Cooper-Standard Holdings Inc.

Good morning, ladies and gentlemen, and welcome to the Coupar Standard First Quarter 2025 Earnings Conference Call. During the presentation, all participants will be in listen-only mode. Following company-prepared comments, we will conduct a question-and-answer session. At that time, if you have a question, you will need to press star, then 1 on your telephone keypad. To withdraw your question, please press star, then 2. As a reminder, this conference call is being recorded, and the webcast will be available on the KUFAR standards website to be placed there today. I would now like to turn the conference call over to Roger Henderson, Director of Investor Relations. Please go ahead.

Thanks, Jenny, and good morning, everyone. We appreciate you spending some time with us this morning. The members of our leadership team who will be speaking with you on the call this morning are Jeff Edwards, Chairman and Chief Executive Officer, and John Banas, Executive Vice President and Chief Financial Officer. Before we begin, I need to remind you that this presentation contains forward-looking statements. While they're made based on current factual information and certain assumptions and plans that management currently believes to be reasonable, these statements do involve risks and uncertainties. For more information on forward-looking statements, we ask that you refer to slide three of this presentation and the company's statements included in periodic filings with the Securities and Exchange Commission. This presentation also contains non-GAAP financial measures. Reconciliations of the non-GAAP financial measures to their most directly comparable GAAP measures are included in the appendix to the presentation. With those formalities out of the way, I'll turn the call over to Jeff Edwards.

Thanks, Roger. Good morning, everyone. We certainly appreciate the opportunity to review our first quarter results and provide an update on our business and the outlook going forward. To begin on slide five, I'll just highlight some key first quarter data points that we believe are reflective of our continuing outstanding operational performance and certainly our ongoing commitment to our core company values. This quarter was arguably the best ever in terms of operations and customer service, with 99% of our product quality scorecards being green. For new program launches, we continue to provide outstanding service levels, with 97% customer scorecards being green. These are amazing operational statistics that any company would be proud of. They reflect our ongoing commitment to providing the best possible value for our customers, as well as our internal commitment to excellence in all we do. Also in our plant operations, safety performance, I'm proud to say, continues to be world class. During the first quarter, we had a total incident rate of .30 reportable incidents per 200,000 hours worked. well below the world-class benchmark of 0.47. Importantly, 47 of our plants had a perfect safety record in the quarter with a total incident rate of zero. That's 82% of all of our production facilities achieving a perfect safety score and demonstrating that our ultimate goal of zero safety incidents is achievable. As I mentioned, we're proud of our entire team for their focus and achievement in this most important operating measure. And as I say often, a special shout out to our plant managers. You continue to be one of the cornerstones of our company and I'm very proud of you all. In terms of cost optimization, we had another solid quarter with our manufacturing and purchasing teams delivering $20 million of savings through lean initiatives and other cost saving programs. In addition, the aggressive restructuring initiative that we announced in the second quarter of last year has been driving cost savings as we planned. In the first quarter, that initiative yielded another $8 million in year-over-year savings. Finally, we're continuing to leverage our world-class service, technical capabilities, and our award-winning innovations to win new business. During the first quarter of 2025, we were awarded $55 million in net new business awards. We are pleased that in an increasing complex and dynamic automotive industry, our customers continue to turn to us to help design and develop new technologies for some of their most important new vehicle platforms, including ICE, hybrid, and battery electric vehicles. Turning to slide six, Our outstanding operational performance and customer service continue to garner important recognition and awards from our customers. We're pleased and proud to once again be named as GM Supplier of the Year. This is the eighth consecutive year that we've received this prestigious award, which acknowledges the consistent value we provide to our customers. We're also proud to have recently received a Toyota Excellent Achievement Award for our partnership in helping reduce costs. We believe this type of customer recognition is an indication of our opportunities to win profitable new business going forward. As we continue to deliver value for our customers through innovation, quality, and service, we expect to be able to leverage strong customer relationships into strong future growth. And as we all know, customers certainly continue to vote with purchase orders, and we're very proud to announce the awards that I discussed previously. So let's turn to slide seven. In addition to prioritizing customer value, employee safety, profitable growth, we also place a high priority on being a good corporate citizen and steward of the environment. Here as well, we continue to garner outside recognition for our leadership and sustainability. And in the most recent quarter, we were pleased to again be recognized by USA Today as one of America's climate leaders for our achievement in environmental stewardship, emissions reduction, and reporting. This comes on top of our recognition by Echovatus for the eighth year in a row. We could achieve this leadership, we could not achieve this leadership status without the support and engagement of the hearts and minds of our employees. Our team members regularly plan and conduct employee activities that support environmental and community initiatives. A few recent examples include tree planting, trail cleanup, maintenance, building neighborhood playgrounds, and collaborating with local charities to refurbish abandoned homes for donation to needy working families. This year, we encouraged our global facilities to consider tree planting as part of their planned Earth Day activities. More than 45 locations are organizing activities, including planting approximately 2,800 trees and seedlings. You can learn more about our commitment to environmental stewardship and sustainability in our upcoming Corporate Responsibility Report, which will be published here in the next couple weeks. Of particular note in this year's report, we'll be announcing our aspirational goals to become carbon neutral by 2040 in Europe and by 2050 globally. As we always say, the earnings calls are certainly about what we do, but the corporate responsibility report continues to be about who we are. Now let me turn the call over to John to review the financial details of the quarter.