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Commercial Vehicle Group (CVGI)
NASDAQ:CVGI
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.03Last Year’s EPS
$0.09Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: -30.19%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
CVG's earnings call presented a mixed outlook. While the company made strategic moves to streamline operations and reduce debt, it faced significant revenue and profit declines due to operational inefficiencies and market weaknesses. Leadership changes and new business wins provide some optimism, but the lowered guidance reflects ongoing challenges.Company Guidance
During CVGI's Q3 2024 earnings call, the company provided updated guidance reflecting current challenges and restructuring efforts. They revised their full-year 2024 revenue guidance to a range of $710 million to $740 million, down from $730 million to $780 million, acknowledging ongoing demand pressures. Adjusted EBITDA expectations were also lowered to $20 million to $25 million, from a previous range of $28 million to $36 million. CVGI highlighted a 2.5% adjusted EBITDA margin for Q3, down from 6% in the prior year, attributed to factors like lower volumes, inflationary impacts, and operational inefficiencies. They reported a net loss of $0.9 million, or $0.03 per diluted share, compared to a net income of $4.7 million, or $0.14 per diluted share, in the prior year. The company also achieved $95 million in new business wins year-to-date and reduced its workforce by approximately 15% to streamline operations and improve cost efficiency.Debt Reduction and Cash Flow Improvement
The company successfully paid down $13 million in debt and received $20 million in proceeds from the sale of the cab structure business, contributing to a free cash flow of $17 million for the quarter.
Strategic Portfolio Streamlining
CVG sold its FinishTEK, cab structures business, Chillicothe, Ohio facility, and Industrial Automation segment, which is expected to create a more streamlined operating model and drive future margin expansion.
New Business Wins
CVG added $18 million in new business wins during the third quarter, bringing the year-to-date total to approximately $95 million across all segments.
Leadership Additions for Growth
The company appointed Peter Lugo as leader of the Electrical Systems segment and Carlos Jimenez as Executive Vice President of Global Operations and Supply Chain to drive growth and operational excellence.
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CVGI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CVGI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $3.08 | $2.40 | -22.08% |
| Aug 05, 2024 | $4.73 | $3.98 | -15.86% |
| May 06, 2024 | $6.02 | $5.60 | -6.98% |
| Mar 04, 2024 | $6.66 | $6.15 | -7.66% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Commercial Vehicle Group (CVGI) report earnings?
Commercial Vehicle Group (CVGI) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Commercial Vehicle Group (CVGI) earnings time?
Commercial Vehicle Group (CVGI) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVGI EPS forecast?
CVGI EPS forecast for the fiscal quarter 2024 (Q4) is -$0.03.
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