CVG Q1 record revenue $262.7M (+7.5% YoY); EPS $0.26, adj. EBITDA $19.8M

Commercial Vehicle Group, Inc.

2023-Q1 EPS reported $0.26 revenue$262,709,000

Net income $8.7M ($0.26 diluted EPS), vs $4.0M ($0.12) a year ago; adjusted EPS $0.28.
Adjusted EBITDA $19.8M (7.5% margin), up 47% from $13.5M; driven by pricing and cost management.
Vehicle Solutions rev. +14.6%, Electrical Systems +37.3%, Aftermarket +24.5%; Industrial Automation -71.4%.
New business wins ~$85M; cost reduction program on track to deliver at least $30M in 2023.
Company expects Q1 margin performance sustainable for 2023; on track toward 2027 $1.5B revenue and 9% EBITDA margin.

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 0.95

Commercial Vehicle Group, Inc. reported first quarter ended March 31, 2023 results: revenue $262.7 million, net income $8.7 million, EPS $0.26 per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $262.7 million
Net income: $8.7 million
EPS: $0.26 per diluted share
Result: reported results

Exact text from the filing

CVG REPORTS FIRST QUARTER 2023 RESULTS Record quarterly revenues of $263 million, up 7.5% year-over-year EPS of $0.26, adjusted EBITDA of $19.8 million or 7.5% of revenue

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Commercial Vehicle Group, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-014863

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