CVG reports Q4 2023 revenue of $223.1M, full year record $994.7M, and provides 2024 outlook

Commercial Vehicle Group, Inc.

Q4 2023 revenue $223.1M (down 5.0% YoY); Electrical Systems segment revenue up 19.4% to $56.2M.
Full year 2023 revenue $994.7M (record); adjusted EBITDA margin up 140 bps to 6.8%; net income $23.3M.
Net debt declined to $103.7M, leverage ratio improved to 1.5x from 2.2x; free cash flow $19M.
2024 outlook: net sales $915M-$1,015M, adjusted EBITDA $60M-$73M; expecting 285,000 Class 8 truck builds.
CEO James Ray highlighted focus on operational efficiency, Electrical Systems growth, and cross-functional collaboration.

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 fourth quarter and full year ended December 31, 2023 results: revenue $223.1 million, net income $23.3 million, or $0.70 per diluted share, EPS $0.70 per diluted share. Guidance reaffirmed.

Period: fourth quarter and full year ended December 31, 2023
Revenue: $223.1 million
Net income: $23.3 million, or $0.70 per diluted share
EPS: $0.70 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

by reference, except as otherwise expressly stated in such filing. --- EX-99.1 (EX-99.1) --- CVG REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Fourth quarter sales of $223 million, record annual sales of $995 million Full year adjusted EBITDA margins increased by 140 bps to 6.8% Provides outlook and guidance for full year 2024 NEW ALBANY, OHIO (March 4,

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Source: SEC EDGAR

accession 0001628280-24-008595

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