secwatch.observer — SEC 8-K summary
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Issuer:     Commercial Vehicle Group, Inc. (CVGI)
CIK:        0001290900
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001628280-24-020724
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1290900/000162828024020724/0001628280-24-020724-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1290900/000162828024020724/cvgi-20240506.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-020724

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