CVG Q3 revenue up 4.9% to $251.4M; net income down 52% to $0.11 EPS; debt paydown on track

Commercial Vehicle Group, Inc.

2022-Q3 EPS reported $0.30 revenue$746,635,000

Revenue $251.4M (+4.9% YoY); net income $3.6M ($0.11 EPS) vs $7.5M ($0.23 EPS) prior year.
Adjusted EBITDA $14.3M (5.7% margin) vs $16.9M (7.1%); adjusted EPS $0.15 vs $0.25.
Warehouse Automation revenue plunged 72.7% to $14.1M; operating loss $1.0M vs income $8.0M.
Expect debt paydown at high end of $25-40M; revolver fully paid off in Q4 2022.
New business wins on track for ~$200M annualized in 2022; transformation plan ahead of schedule.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Commercial Vehicle Group, Inc. reported third quarter ended September 30, 2022 results: revenue $251.4 million, net income $3.6 million, EPS $0.11 per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $251.4 million
Net income: $3.6 million
EPS: $0.11 per diluted share
Result: reported results

Exact text from the filing

Third Quarter 2022 Highlights (Compared with prior year, where comparisons are noted) • Revenues of $251.4 million, up $11.8 million or 4.9%. Operating Income of $9.5 million. Adjusted operating income of $10.6 million, down $1.6 million or 13.1% versus Q3 2021. • Net income of $3.6 million, or $0.11 per diluted share. Adjusted net income of $5.1 million, or $0.15 per diluted share, a decrease of $0.10 per diluted share versus Q3 2021.

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Commercial Vehicle Group, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-22-027822

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