Welcome to our dedicated page for Commercial Veh Group news (Ticker: CVGI), a resource for investors and traders seeking the latest updates and insights on Commercial Veh Group stock.
Commercial Vehicle Group Inc (CVGI) is a specialty manufacturer of cab systems and components for commercial vehicles, serving the heavy truck, construction, agricultural, and specialty vehicle industries. This news feed covers CVG's quarterly financial results, operational updates, and corporate developments as a supplier to major vehicle manufacturers worldwide.
CVG's news flow typically includes earnings announcements that reflect demand cycles across its diverse end markets, from Class 8 trucks to construction equipment. As a Tier 1 supplier to OEMs, the company's results often provide insight into broader commercial vehicle production trends. Corporate developments such as executive appointments, debt refinancing activities, and strategic restructuring initiatives also appear in the company's news coverage.
The company's exposure to multiple vehicle segments means news can reflect conditions across trucking, construction, agriculture, and military vehicle markets simultaneously. Investors tracking CVG can monitor how the company navigates varying demand cycles across these industries and manages its capital structure as a cyclical manufacturer.
Bookmark this page to follow Commercial Vehicle Group's financial performance, strategic announcements, and operational updates as they are released.
CVG (NASDAQ: CVGI) has launched an aftermarket e-commerce platform, AftermarketTruckParts.com, aimed at supporting commercial vehicle operators in the U.S. The platform features over 250 popular products, including brands like Bostrom Seats and National Seats, enabling users to place orders and receive them directly from the factory.
CEO Harold Bevis emphasized the importance of this launch in addressing issues like driver retention and vehicle uptime. The site also includes a blog for truck and fleet owners, offering tutorials and industry insights. To celebrate the launch, a promotional code for 10% off first orders is available.
CVG is expanding its global operations with new manufacturing facilities in Morocco and Mexico, set to become operational in Q3 2023. Each facility is anticipated to create approximately 1,000 jobs, enhancing CVG's capacity in the electrification systems sector. The new plant in Tangier, Morocco will leverage local technical talent, while the Aldama, Mexico site aims to support North American and emerging markets. These developments align with CVG's strategic goal to strengthen its electrification systems business. The company is also exploring additional locations in the Asia Pacific region to further its expansion efforts.
CVG (NASDAQ: CVGI) will present virtually at the Sidoti Small-Cap Virtual Conference on March 22, 2023, at 2:30 p.m. ET. The CEO, Harold Bevis, and CFO, Andy Cheung, will lead the presentation. Investors can access the webcast through the company’s investor section on its website, with presentation materials available for 30 days post-event. Management will also meet virtually with registered investors, providing an opportunity for direct engagement.
For further inquiries, investors can contact CVGI@alpha-ir.com. More information about the company and its offerings can be found on cvgrp.com.
CVG (NASDAQ:CVGI) has appointed Russell Ketteringham as the new President of Vehicle Solutions for North America and Europe, effective March 1, 2023. Ketteringham joins CVG with 25 years of experience from BOS Automotive, where he was President and CEO for North America. In his new role, he will manage CVG’s OE seating, cab structures, trim systems, and plastics parts businesses across these regions. His extensive background in program management, product development, and customer relations is expected to enhance CVG's growth and profitability strategies, reinforcing the company’s commitment to targeted growth and free cash flow.
CVG (NASDAQ: CVGI) reported its fourth quarter 2022 results, with revenues of $234.9 million, reflecting a 2.6% year-over-year increase. However, the company faced a net loss of $32 million due to non-cash charges related to a pension settlement and a write-down in the Industrial Automation segment. Adjusted EBITDA rose 3.1% to $13.3 million. CVG anticipates achieving around $150 million in new business revenue in 2023, alongside continued efforts to enhance free cash flow and reduce debt, which dropped to $120.6 million. Despite the positive revenue outlook, the ongoing challenges in the Industrial Automation sector remain a concern.
CVGI will hold a quarterly conference call on March 7, 2023, at 10:00 a.m. ET to discuss its Q4 and full year 2022 financial results. The company will issue a press release and presentation before the call.
Toll-free participants can dial (888) 396-8049 or (416) 764-8646 for international callers, both using conference code 33489158. The call will also be webcast, accessible via the “Investors” section of CVG's website, where it will be archived for one year.
A telephonic replay will be available until March 21, 2023, at (877) 674-7070 with access code 489158.
CVG (NASDAQ: CVGI) announced that its President and CEO, Harold Bevis, along with CFO Andy Cheung, will present at the Sidoti January Micro-Cap Virtual Conference on January 19, 2023, at 10:45 a.m. ET. Interested investors can access the webcast via the Company’s investor section on their website. Presentation materials will be archived online for 30 days. Management will also engage with registered investors during the conference.
CVG aims to provide solutions to intricate design, engineering, and manufacturing challenges while positively impacting customers, industries, and communities.
CVG (NASDAQ: CVGI) will present at the Sidoti December Small-Cap Virtual Conference on December 7, 2022, at 9:15 a.m. ET. The presentation by CEO Harold Bevis and CFO Andy Cheung will be accessible via the investor section of CVG's website. Additionally, management will engage in virtual meetings with registered investors. Presentation materials will be archived on the website for 30 days. For further inquiries, contact Alpha IR Group at CVGI@alpha-ir.com.
CVGI (NASDAQ: CVGI) will present virtually at the Sidoti November Micro-Cap Virtual Conference on November 9, 2022, at 10:45 a.m. ET. Harold Bevis, President and CEO, and Andy Cheung, EVP and CFO, will lead the presentation. Interested investors can access the live webcast through the investor section of the company's website. Presentation materials will be available online for 30 days. Furthermore, management plans to engage in virtual meetings with conference-registered investors, enhancing their communication with stakeholders.
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