Cooper-Standard Holdings Inc.

Good morning, ladies and gentlemen, and welcome to the Cooper Standard Second 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, and to withdraw from the question queue, please press star then 2. As a reminder, this conference call is being recorded and the webcast will be available on the Cooper Standard website for replay later today. I would now like to turn the call over to Roger Hendrickson, Director of Investor Relations. Please go ahead, sir.

Thanks, Sylvie, and good morning, everyone. Thank you for 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 are made based on current factual information and certain assumptions and plans that management currently believes to be reasonable, these statements do involve risks and uncertainty. 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. The presentation also contains non-GAAP financial measures. Reconciliations of the non-GAAP financial measures to their more directly comparable GAAP measures are included in the appendix to the presentation. So with those formalities out of the way, I'll now turn the call over to Jeff Edwards. Thanks, Roger, and good morning, everyone.

And as always, we appreciate the opportunity to review our second quarter results and provide an update on our business and the outlook going forward. So to begin on slide five, I'd like to highlight some second quarter data points that we believe are reflective of our continuing outstanding operational performance and our ongoing commitment to our core company values. In terms of operations and customer service, I'm extremely proud to report that we ended the second quarter with a record 100% of our total 317 customer scorecards for quality and service being green. This is such an amazing accomplishment, frankly, and it speaks volumes to the dedication and commitment of our manufacturing teams around the world. It's also an indication of how effective the new digital tools we've deployed in our plants, can be at identifying potential challenges, and more importantly, enable corrective actions before they become bigger issues. So a huge shout out to our manufacturing leadership team, our plant managers, and our plant employees for this remarkable result. Thank you all very much. For new program launches, we continue our outstanding service level with 97% customer scorecards being green. despite increased launch activity, as we've discussed. Frankly, these are amazing operational statistics that reflect our total company commitment to providing the best possible value for our customers, as well as our internal commitment to excellence in all that we do. Also, in our plant operations, safety performance continues to be excellent. During the second quarter, we had a total incident rate of .26 reportable incidents per 200,000 hours worked. That's well below the world-class benchmark of .47. Even more important, 44 of our plants have maintained a perfect safety record with a total incident rate of zero for the first half of the year. Just to frame that, that's 75% of all of our production facilities achieving a perfect safety score and demonstrating that our ultimate goal of zero safety incidents is certainly achievable. We are proud of the entire global team for their focus and achievement in the most important operating measure for our company. In terms of cost optimization, we had another solid quarter with our manufacturing and purchasing teams delivering $25 million of savings through lean initiatives and other cost-saving programs. In addition, the restructuring and headcount optimization initiative that we implemented beginning in the second quarter of last year has been driving cost savings as we planned. In the second quarter, that initiative actually yielded another $4 million in year-over-year savings. Finally, we're continuing to leverage world-class service, technical capabilities, and our award-winning innovations to win new business. During the second quarter of 2025, we were awarded $77 million in net new business awards. We're proud to be the supplier that our customers increasingly turn to for quality components, consistency of delivery in collaboration on the design and development of new technologies and critical systems for some of their most important vehicle platforms turning to slide six with our product quality and customer service levels at all-time highs our relationships with our customers frankly have never been better as a result we continue to amass an impressive number of important awards from our customers the latest being the Ford supplier of the year. In addition, we're proud to be selected to collaborate with the Renault Group on their Enblame project. That's an eco-conscious family demo car that aims to reduce CO2 emissions over its life cycle. The groundbreaking project integrates two of Cooper Standard's low-carbon, high-performance vehicle innovations, the FlexCore thermoplastic body seal, and our flush seal sealing system. But more important than hardware in the trophy case is the way these quality relationships enable us to continue to negotiate and navigate today's business environment. This has been clearly evident in our recent discussions on tariff impacts, which are now largely complete, with the most important commercial negotiations now behind us for the year Importantly, our focus in the second half can be 100% on sustaining our operational excellence and executing our plans to achieve our long-term goals and objectives. I look forward to speaking more about this in the next few minutes, but for now, I'll turn the call over to John to review the financial details of the quarter.