Cooper-standard posts q3 loss per share of $0.82

Cooper standard reports third quarter results, details restructuring plans.q3 adjusted loss per share $0.31.q3 loss per share $0.82.q3 sales $729 million versus refinitiv ibes estimate of $688.5 million.q3 earnings per share estimate $0.59 -- refinitiv ibes data.cooper-standard - sees fy sales $3.0 billion - $3.1 billion.cooper-standard - sees fy capex $165 million - $175 million.fy2019 revenue view $3.05 billion -- refinitiv ibes data.cooper-standard holdings - unanticipated uaw work stoppage in u.s. further reduced sales and profits during q3.unfavorable outcomes of customer negotiations in china reduced sales and profits during q3.cooper-standard holdings - implementing many additional restructuring & cost reduction initiatives expected to reduce expenses in 2020 & beyond.cooper-standard holdings - restructuring expense related to planned headcount reductions is expected to be $7 to $9 million.cooper-standard holdings - restructuring expense related to facility closures is expected to be in range of $20 to $25 million.related structural cost savings are expected to drive a cash payback in less than two years.
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