CVG Q1 revenue down 11.6% to $232M; EPS $0.09, reaffirms FY guidance

Commercial Vehicle Group, Inc.

2024-Q1 EPS reported $0.09 revenue$232,068,000

Revenue $232.1M (-11.6% YoY); net income $2.9M ($0.09 diluted EPS) vs $8.7M ($0.26) in Q1 2023.
Adjusted EBITDA $12.7M (margin 5.5%), down 35.9%; adjusted EPS $0.13 vs $0.28 a year ago.
Electrical Systems revenue up 1.9% to $55.8M; new business wins of ~$45M when fully ramped.
Reaffirms FY2024 guidance: revenue $915M-$1,015M, Adj EBITDA $60-$73M.
Cash $46.8M, net leverage 1.8x; restructuring actions taken to counter soft ag/construction markets.

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, 2024 results: revenue $232.1 million, net income $2.9 million, EPS $0.09. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $232.1 million
Net income: $2.9 million
EPS: $0.09
Guidance: reaffirmed
Result: reported results

Exact text from the filing

today announced financial results for its first quarter ended March 31, 2024. First Quarter 2024 Highlights (Compared with prior year, where comparisons are noted) • Revenues of $232.1 million, down 11.6% due primarily to a softening in customer demand, partially offset by an increase in Electrical Systems sales. • Operating income of $6.6 million, down 55.1%; adjusted

View on SEC.gov

710 earnings releases filed in the last 30 days. Browse all earnings releases →

Commercial Vehicle Group, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-020724

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.