WLL = Whiting Petroleum Corporation (NYSE: WLL) today announced its financial and operating results for the third quarter of 2019.

In the third quarter, Whiting delivered oil production of 80,880 barrels per day, despite adverse weather conditions and ongoing gas and natural gas liquid (NGL) infrastructure and processing constraints. The Company maintained strong capital spending discipline, with capital expenditures in the third quarter below the Company’s previously announced guidance range.

Bradley J. Holly, Whiting’s Chairman, President and CEO commented, “Today, Whiting is more energized than ever as we continue our hard work to position the Company for near- and long-term success. As part of our value-based strategy – and following significant organizational changes – we are a more focused company committed to operational efficiency and disciplined capital allocation to improve returns for investors.”

Holly added, “In the third quarter, we took decisive steps to streamline operations, improve cash flow and strengthen our financial position. From an operations standpoint, we have increased communication and efficiency throughout the organization, which contributed to solid production results despite challenging operating conditions. Improved planning processes and enhanced technology enabled us to deliver on our commitments while controlling capital spending. We remain on track to achieve our full-year 2019 production targets while reducing lease operating expenses over the coming quarters and intend to build on our results to drive further performance improvement and generate free cash flow. In addition, we are tightening the range for our full-year capital expenditure guidance to recognize the benefits of more efficient execution of our capital plan. This reflects enhanced drilling and completion efficiency in the field driven by new technologies and design optimization.”

Operations Update

During the third quarter, heavy rain and flooding across Whiting’s properties resulted in road closures and restricted activity. Whiting’s field operations took preemptive steps to prepare well sites, allowing for uninterrupted operations at some locations and expedited recovery at others, which resulted in the Company achieving its quarterly production goal. Consistent with its plan, Whiting put on production 39 wells during the third quarter and remains on track to put on production 31 wells in the fourth quarter.

BPMC = Reports Q3 revenue $9.1M, consensus $2.59M. As of September 30 cash, cash equivalents and investments were $594.5M, as compared to $494.0M as of December 31, 2018. “As we prepare to launch our first medicine and submit multiple additional marketing applications next year, today we are unveiling our next wave of internally discovered research and clinical-stage precision therapies with the potential to deliver durable clinical benefits to additional patient populations,” said the company. “By fully leveraging our integrated research capabilities and reinvesting insights from our ongoing clinical programs, we continue to build a powerful research engine with the potential to deliver transformative treatment advances to patients as well as rapid and sustainable growth to Blueprint Medicines.”

REGI = Renewable Energy Group, Inc. (“REG” or the “Company”) (NASDAQ: REGI) today announced its financial results for the third quarter ended September 30, 2019.

Revenues for the third quarter were $584.4 million on 187.5 million gallons of fuel sold. Net loss from continuing operations attributable to common stockholders was $13.8 million in the third quarter of 2019, inclusive of an $11.1 million impairment charge related to the New Boston plant closure. This compares to net income from continuing operations attributable to common stockholders of $24.8 million in the third quarter of 2018. Adjusted EBITDA in the third quarter was $10.6 million, compared to $39.4 million in the third quarter of 2018.

“Our performance was satisfactory even in the face of the uncertainty around the lapsed BTC and excessive small refinery waivers, both of which contributed to compressed margins,” said Cynthia (CJ) Warner, President and Chief Executive Officer. “We generated positive adjusted EBITDA of $11 million, which does not include the potential benefit of a retroactive BTC reinstatement. Importantly, we improved our product mix by increasing renewable diesel sales and concentrating on the most profitable gallons and market placement.”

Warner continued, “We are committed to running a profitable business, with or without the BTC. Our profit improvement, growth and value creation strategies are taking root and we believe provide a foundation for success in the future.”

MBI = MBIA Inc. (NYSE:MBI) (the Company) today reported a consolidated GAAP net income of $71 million, or $0.86 per share, for the third quarter of 2019 compared to a consolidated GAAP net loss of $45 million, or $(0.50) per share, for the third quarter of 2018. The favorable variance for the third quarter of 2019 was primarily driven by 1) the increase in net gains on financial instruments at fair value and foreign exchange of variable interest entities (VIEs), which was largely due to an increase in loss recoveries for RMBS put-back claims on ineligible mortgage loans and the value of unwrapped COFINA bonds sold out of the Custodial Trust that resulted from the restructuring of COFINA earlier this year; and 2) the decrease in loss and loss adjustment expense largely related to increased recoveries associated with Puerto Rico credits mostly due to lower risk-free interest rates used to discount loss recoveries. A significant positive variance also resulted from net gains on the sale of uninsured PREPA bonds owned by National Public Finance Guarantee Corporation (National).

KTOS = Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today reported its third quarter 2019 financial results. For the third quarter 2019, Kratos reported Revenues of $184.1 million, a 15.5% increase over the third quarter of 2018, and third quarter 2019 Adjusted EBITDA of $20.4 million, or 11.1%, a 22.2% increase over the third quarter of 2018. Excluding the impact of the recent FTT acquisition, revenues grew organically 5.3% from the third quarter of 2018 to the third quarter of 2019. Third quarter 2019 Operating Income of $11.5 million increased 13.9% over the third quarter of 2018. Third quarter 2019 Cash Flow from Operations was $10.2 million, and third quarter 2019 Free Cash Flow generated from Operations was $2.1 million, after capital expenditures of $8.1 million, which included the continued build out of the Company’s new drone manufacturing facility in Oklahoma, where the XQ-58 Valkyrie will be produced. Third quarter 2019 Adjusted EPS* was $0.09, a 12.5% increase over the third quarter of 2018. Kratos reported third quarter 2019 Net Income of $2.5 million, a 47.1% increase over third quarter 2018 Net Income of $1.7 million.

For the third quarter of 2019, Kratos’ Unmanned Systems Division (KUSD) reported Revenues of $45.7 million, an increase of $12.4 million, or 37.2%, over 2018 third quarter Revenues of $33.3 million, and Adjusted EBITDA of $4.9 million, an increase of 88.5% over 2018 third quarter Adjusted EBITDA of $2.6 million. Third quarter KUSD Operating Income of $3.3 million increased 230.0% over 2018 Operating Income of $1.0 million. KUSD’s third quarter 2019 book-to-bill ratio was 1.2 to 1.0 and 1.3 to 1.0 for the last twelve months ended September 29, 2019. Total backlog for KUSD at the end of the 2019 third quarter was $160.9 million.

Kratos’ Government Solutions Division (KGS) reported third quarter 2019 Revenues of $138.4 million, an increase of 9.8% over 2018 third quarter Revenues of $126.1 million. Excluding the impact of the FTT acquisition, which contributed $16.3 million to third quarter 2019 revenues, KGS Revenues decreased 3.2%, or $4.0 million, from the third quarter of 2018, resulting from the continued reduction in the Company’s deemphasized legacy government services revenues, which declined $5.1 million from the third quarter of 2018. Third quarter 2019 KGS Adjusted EBITDA of $15.5 million increased 9.9% over third quarter 2018 Adjusted EBITDA of $14.1 million, and third quarter 2019 KGS Operating Income of $11.1 million increased from third quarter 2018 Operating Income of $11.0 million.

For the third quarter of 2019, Kratos reported bookings of $172.5 million and a book-to-bill ratio of 0.9 to 1.0, with bookings of $713.1 million in the last twelve months and a book-to-bill ratio of 1.0 to 1.0. Backlog at September 29, 2019 was $608.7 million. All Kratos business units reported a book-to-bill ratio for the last twelve months between 1.0 to 1.4, with the exception of the Company’s Training Solutions business. In the third quarter, Kratos’ bid and proposal pipeline increased by $100 million, up to approximately $7.7 billion, at September 29, 2019.

CENX = Century Aluminum Company (NASDAQ: CENX) today announced its third quarter 2019 results.

Third Quarter 2019 Financial Results

  • Shipments of 198,543 tonnes, a 2% decrease over prior quarter
  • Net sales of $438.0 million, a 7% decrease over prior quarter primarily due to lower LME prices
  • Net loss of $20.7 million, or $0.23 per share
  • Adjusted net loss1 of $37.4 million, or $0.39 per share
  • Adjusted EBITDA1 of $(12.2) million primarily due to low LME prices and lagged high alumina prices
 Shipments (tonnes)  203,380         198,543      
 Net sales   $  473.1           $  438.0        
 Net income (loss)   (20.7   )       (20.7   )    
 Diluted earnings (loss) per share   (0.23   )       (0.23   )    
 Adjusted net income (loss)1 (16.2   )       (37.4   )    
 Adjusted earnings (loss) per share1 (0.17   )       (0.39   )    
 Adjusted EBITDA1    11.7            (12.2   )    

 1 - Non-GAAP measure; see reconciliations of GAAP to non-GAAP financial measures     

In the third quarter of 2019, shipments of primary aluminum were down 2% compared to the second quarter of 2019 due to lower than expected production at Hawesville. Net sales for the third quarter of 2019 were $438.0 million compared with $473.1 million for the second quarter of 2019, a 7% decrease over prior quarter primarily due to lower LME prices.

Century reported a net loss of $20.7 million for the third quarter of 2019. This result compares to a net loss of $20.7 million for the second quarter of 2019. Third quarter results were positively impacted by $16.7 million of exceptional items, driven by a $5.7 million lower of cost or net realizable value inventory adjustment and a $10.1 million unrealized gain on derivative instruments.

The adjusted net loss for the third quarter of 2019 was $37.4 million compared to an adjusted net loss of $16.2 million for the second quarter of 2019.

Adjusted EBITDA for the third quarter of 2019 was $(12.2) million, driven by low LME prices and high lagged alumina prices. This result was down $23.9 million from the second quarter of 2019 driven primarily by lower LME prices.

Century’s cash position at quarter end was $22.5 million and revolver availability was $177.6 million.

“The external environment remains complex, with conflicting signals evident at each of the macro and sector specific levels,” commented Michael Bless, President and Chief Executive Officer. “We have seen slowing growth in many of our customers’ markets, and this condition is manifested in declining product premiums. However, inventory levels remain relatively low and the global balance of supply and demand is, at this time, consistent with a healthy market. Of course the broader environment remains exposed, on the upside as well as the downside, to developments on several key geopolitical issues. The alumina price has, as expected, returned to more normalized levels, both in absolute and in relation to the metal price.”

Mr. Bless continued, “The company’s operations remain largely on track. At Hawesville, we are on pace to return the plant to full production in 2020. As previously reported, the three newly rebuilt potlines are fully operational. Earlier this year, we disconnected one of the two lines which have been continuously operating; its rebuild is on schedule and we expect to begin restarting cells in January and to have the line at full production by the end of the first quarter. Again as previously discussed, we were hoping to extend the life of the last potline to be refurbished into the latter months of this year. However, a severe and persistent alumina quality issue began to manifest over the summer and exposed these fragile cells, which were several years past their normal service life, to undue stress. We thus made the decision to disconnect the remaining cells; this last line will be rebuilt following the completion of the line presently under construction. Our other operations are performing well; conversion costs are under control and safety performance remains good and continues generally to improve.”

CNST = “Our clinical programs continued to advance during the third quarter,” said Jigar Raythatha, president and chief executive officer of Constellation Pharmaceuticals. “We are particularly pleased with new MANIFEST data on CPI-0610 in myelofibrosis published today in abstracts by the American Society of Hematology. The data in the abstracts show signs of encouraging clinical activity in both JAK-inhibitor-naive patients and ruxolitinib-refractory or -intolerant patients. Based on this activity, we have expanded the MANIFEST trial in first-line patients and in second-line transfusion-dependent patients to look more closely at these signals of activity. We plan to provide a further update on CPI-0610 in oral and poster presentations and at an investor event at the ASH meeting on December 9. Additionally, we have begun planning for a randomized Phase 3 clinical trial for CPI-0610 in JAK-inhibitor-naive patients that we expect to begin in 2020.

ODP = Office Depot announced that as part of its ongoing commitment to drive shareholder value, its Board of Directors approved an increase in the authorization of its existing stock repurchase program to $200M and an extension of the program until the end of 2021. The new authorization includes the remaining authorized amount under the company’s previous stock repurchase program. Accordingly, the company will have approximately $190M available for share repurchases. Backs FY19 adjusted EBITDA view $525M-$550M, free cash flow $300M-$325M.

COTY = Reports earnings. Highlights

  • 1Q20 net revenue down 4.4%, with 1.1% LFL decline including a 1% negative impact from Younique
  • Strong LFL growth in Luxury and Professional Beauty, offset by declines in Consumer Beauty
  • Adjusted operating income of $154.7 million grew 10% YoY
  • Adjusted EPS of $0.07, down 36% YoY, reflecting the 1Q19 non-recurring tax benefit
  • 1Q20 free cash flow improved by $169 million from the prior year period
  • Commenting on the operating results, Pierre Laubies, Coty CEO said:

“Q1 marked the first quarter of implementing our turnaround plan. With Younique excluded from our results as of September, we have also begun to see some improvements in the Consumer Beauty division. These improvements include revenue growth and market share gains on select brands in Europe, strong performance in Sally Hansen U.S., and some early progress on Covergirl. Throughout the organization, our teams are building a better business, including making trade-offs in favor of healthy, sustainable sales. Our strong Q1 gross margin improvement is a reflection of our progress in this area. With the consistent delivery of our Luxury division in a more volatile environment, and the strong performance of the Professional Beauty division, our Q1 is well on the path of our turnaround deployment.”

Commenting on the financial results, Pierre-André Terisse, Coty CFO said:

“The beginning of the year was in-line with our expectations on all key financial metrics, including net revenues, adjusted operating income, adjusted EPS, and free cash flow. More importantly, our equation is healthier as the significant gross margin improvement allowed us to reinvest behind our brands. This gives me confidence in our ability to deliver our targets for the year. As we continue to explore how to accelerate the transformation of Coty, with a strategic review which has already attracted strong interest, we will in the coming quarters continue to focus on the fundamentals of our turnaround: deploying operational excellence, improving the performance of our supply chain, expanding gross margin to support our brands, streamlining the organization and maintaining discipline on cash and costs.”

FATE = Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders, announced today that two oral and four poster presentations covering the Company’s off-the-shelf, induced pluripotent stem cell (iPSC)-derived natural killer (NK) cell and chimeric antigen receptor (CAR) T-cell product candidates will be featured at the 61st American Society of Hematology (ASH) Annual Meeting and Exposition. The meeting will be held December 7-10, 2019 in Orlando, Florida.

In addition, this year’s ASH press program will feature the Company’s FT596 product candidate. The “CAR-T and Beyond” press briefing will take place at 7:30 a.m. EST, Saturday, December 7, in the ASH Press Briefing Room (W221DE) of the Orange County Convention Center. It is open to all media registered to attend the meeting.

“We are honored that FT596 has been selected by the ASH Program Committee for feature in this year’s prestigious Annual Meeting Press Program,” said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics. “The multi-antigen targeting functionality and off-the-shelf availability of FT596, combined with the intrinsic anti-tumor activity of NK cells, is a promising approach to overcome antigen escape and time-to-patient treatment, and has the potential to convey deeper and more durable responses to more patients. We look forward to highlighting the breadth of our novel off-the-shelf, iPSC-derived cell-based cancer immunotherapy pipeline this year at ASH.”

FT596 is among the first cell-based cancer immunotherapies to be manufactured from a master iPSC line, and is the first-ever cellular immunotherapy allowed for clinical investigation that is genetically engineered to contain three active anti-tumor modalities: a proprietary chimeric antigen receptor (CAR) targeting B-cell antigen CD19; a novel high-affinity, non-cleavable CD16 Fc receptor for enhanced binding to tumor-targeting antibodies; and an interleukin-15 receptor fusion (IL-15RF) for improved potency.

2019 ASH Oral Presentations

FT538: Preclinical Development of an Off-the-Shelf Adoptive NK Cell Immunotherapy with Targeted Disruption of CD38 to Prevent Anti-CD38 Antibody-Mediated Fratricide and Enhance ADCC in Multiple Myeloma When Combined with Daratumumab
Publication Number: 133
Session Name: 652. Myeloma: Pathophysiology and Pre-Clinical Studies, excluding Therapy: Modeling Cellular Immunity and Tumor Microenvironment in Multiple Myeloma
Date and Time: Saturday, December 7, 2019, 9:30 AM
Location: Orange County Convention Center, Valencia A (W415A)
FT596: Translation of First-of-Kind Multi-Antigen Targeted Off-the-Shelf CAR-NK Cell with Engineered Persistence for the Treatment of B Cell Malignancies
Publication Number: 301
Session: 625. Lymphoma: Pre-Clinical – Chemotherapy and Biologic Agents: Targeting Apoptosis Pathways in Lymphoma Infections: Pre-clinical T and NK Cell Immunotherapies
Date and Time: Saturday, December 7, 2019, 4:00 PM
Location: Orange County Convention Center, Valencia A (W415A)
2019 ASH Poster Presentations

FT500 iPSC-Derived NK Cells Synergize with T Cells and Anti-PD-1 Antibody to Mediate Durable Anti-Tumor Responses In Vivo
Publication Number: 1933
Session: 703. Adoptive Immunotherapy: Mechanisms and New Approaches: Poster I
Date and Time: Saturday, December 7, 2019, 5:30 PM – 7:30 PM
Location: Orange County Convention Center, Hall B
FT576: A Novel Multiplexed Engineered Off-the-Shelf Natural Killer Cell Immunotherapy for the Dual-Targeting of CD38 and BCMA for the Treatment of Multiple Myeloma
Publication Number: 3214
Session: 703. Adoptive Immunotherapy: Mechanisms and New Approaches: Poster II
Date and Time: Sunday, December 8, 2019, 6:00 PM – 8:00 PM
Location: Orange County Convention Center, Hall B
NK Cells Lacking CD38 Are Resistant to Oxidative Stress-Induced Death
Publication Number: 3215
Session: 703. Adoptive Immunotherapy: Mechanisms and New Approaches: Poster II
Date and Time: Sunday, December 8, 2019, 6:00 PM – 8:00 PM
Location: Orange County Convention Center, Hall B
FT819: Translation of Off-the-Shelf TCR-Less Trac-1XX CAR-T Cells in Support of First-of-Kind Phase I Clinical Trial
Session: 703. Adoptive Immunotherapy: Mechanisms and New Approaches: Poster III
Publication Number: 4434
Date and Time: Monday, December 9, 2019, 6:00 PM – 8:00 PM
Location: Orange County Convention Center, Hall B
About Fate Therapeutics’ iPSC Product Platform

The Company’s proprietary induced pluripotent stem cell (iPSC) product platform enables mass production of off-the-shelf, engineered, homogeneous cell products that can be administered with multiple doses to deliver more effective pharmacologic activity, including in combination with cycles of other cancer treatments. Human iPSCs possess the unique dual properties of unlimited self-renewal and differentiation potential into all cell types of the body. The Company’s first-of-kind approach involves engineering human iPSCs in a one-time genetic modification event and selecting a single engineered iPSC for maintenance as a clonal master iPSC line. Analogous to master cell lines used to manufacture biopharmaceutical drug products such as monoclonal antibodies, clonal master iPSC lines are a renewable source for manufacturing cell therapy products which are well-defined and uniform in composition, can be mass produced at significant scale in a cost-effective manner, and can be delivered off-the-shelf for patient treatment. As a result, the Company’s platform is uniquely capable of overcoming numerous limitations associated with the production of cell therapies using patient- or donor-sourced cells, which is logistically complex and expensive and is subject to batch-to-batch and cell-to-cell variability that can affect clinical safety and efficacy. Fate Therapeutics’ iPSC product platform is supported by an intellectual property portfolio of over 250 issued patents and 150 pending patent applications.

About FT596

FT596 is an investigational, universal, off-the-shelf natural killer (NK) cell cancer immunotherapy derived from a clonal master induced pluripotent stem cell (iPSC) line engineered with three anti-tumor functional modalities: a proprietary chimeric antigen receptor (CAR) optimized for NK cell biology, which contains a NKG2D transmembrane domain, a 2B4 co-stimulatory domain and a CD3-zeta signaling domain, that targets B-cell antigen CD19; a novel high-affinity 158V, non-cleavable CD16 Fc receptor that has been modified to augment antibody-dependent cellular cytotoxicity by preventing CD16 down-regulation and enhancing CD16 binding to tumor-targeting antibodies; and an IL-15 receptor fusion (IL-15RF) that promotes enhanced NK cell activity. The FDA has allowed investigation of FT596 in an open-label Phase 1 clinical trial as a monotherapy and in combination with rituximab for the treatment of advanced B-cell malignancies and in combination with obinutuzumab for the treatment of chronic lymphocytic leukemia. In preclinical studies of FT596, the Company has demonstrated that dual activation of the CAR19 and CD16 receptors, in combination with IL-15RF signaling, convey synergistic anti-tumor activity. Increased degranulation and cytokine release were observed upon dual receptor activation in lymphoma cancer cells as compared to activation of each receptor alone, indicating that multi-antigen engagement may elicit a deeper and more durable response. Additionally, in a mixed cellular composition cytotoxicity assay comprised of CD19+ and CD19- tumor cells, FT596 combined with CD20-directed monoclonal antibody therapy effectively eliminated the heterogeneous population of tumor cells, a result that was not observed with single-antigen targeted CAR19 T cells.

BEAT = BioTelemetry, Inc. (NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today reported results for the third quarter ended September 30, 2019.

Quarter Highlights

  • Recognized quarterly revenue of $111.3 million
  • Reached 11.3% year-over-year revenue growth
  • Achieved 29th consecutive quarter of year-over-year revenue growth
  • Reported GAAP net income of $8.3 million
  • Realized quarterly adjusted EBITDA of $31.5 million, or 28.3% of revenue
  • President and CEO Commentary

Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented: “The third quarter was another excellent quarter for BioTelemetry, highlighted by 11% revenue growth and an adjusted EBITDA margin of 28%. These results exceeded our expectations and marked the 29th consecutive quarter of year-over-year growth. Demand remained strong for our Healthcare services, driven primarily by our extended Holter and MCT, which accelerated to 11% growth in the third quarter. We also benefitted from our 2019 acquisitions, Geneva and ADEA Medical, as well as continued growth in our Research and digital population health businesses. Our adjusted EBITDA margin also exceeded our expectations as a result of our continued focus on operational efficiencies.

“Our momentum was strengthening as we entered the fourth quarter. However, approximately two weeks ago, we detected suspicious activity on our information technology network. As part of our comprehensive response plan, we immediately took certain systems offline to contain the activity and engaged an outside forensics team to conduct an independent investigation. Substantially all systems have resumed, and our technical team continues to work closely with third-party consultants to further address this matter. There has been no evidence of any unauthorized transfer or misuse of customer or employee data. As always, our primary focus remains our customers and patients.

“This incident did temporarily disrupt our services, which we expect will impact our fourth quarter results. Given the information we currently have, we now expect our full year 2019 revenue to be in the range of $435 to $440 million.

“As we close out 2019, we will continue to execute on our proven growth strategy. Given the strong fundamentals of our core business, coupled with our acquisitions, which have more than doubled our addressable market, we expect 2020 to be another outstanding year with double digit organic growth.”

Revenue for the third quarter 2019 was $111.3 million compared to $100.0 million for the third quarter 2018, an increase of $11.3 million, or 11.3%.

Gross profit for the third quarter 2019 was $69.3 million, or 62.3% of revenue, compared to $62.7 million, or 62.7% of revenue, for the third quarter 2018.

CPS = NOVI, Mich., Nov. 5, 2019 /PRNewswire/ — Cooper-Standard Holdings Inc. (NYSE: CPS) today reported results for the third quarter 2019.

Third Quarter 2019 Summary

  • Sales totaled $729.0 million
  • Net loss of $13.9 million or $(0.82) per diluted share
  • Adjusted EBITDA of $43.5 million or 6.0 percent of sales
  • Adjusted net loss of $5.2 million or $(0.31) per diluted share
  • Net new business awards totaled $132 million in projected annualized sales
  • Continuing record pace for new program launches
  • “Production levels on certain key vehicle platforms in North America and Asia have remained well below expectations and have continued to negatively impact our financial results,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “In addition, unfavorable outcomes of customer negotiations in China and the unanticipated UAW work stoppage in the United States further reduced sales and profits during the third quarter.

“We are continuing the aggressive implementation of several initiatives to reduce costs, optimize working capital and align our operations with lower light vehicle production in all regions,” Edwards added. “We expect the successful execution of these initiatives, combined with record new program launches and further advancements within our non-automotive businesses will position us to drive improved results going forward.”