Commercial Veh Group Inc Stock Price, News & Analysis

CVG (NASDAQ: CVGI) will present virtually at the Sidoti Virtual Micro Cap Conference on August 17, 2022, at 1:00 p.m. ET. Harold Bevis, President and CEO, and Christopher Bohnert, CFO, will discuss the company's strategies and updates. Interested investors can access the presentation materials on the investor section of the Company's website, where they will be archived for 30 days. Additionally, management will hold virtual meetings with conference registrants to engage with investors.

CVG (NASDAQ: CVGI) reported its Q2 2022 financial results, revealing revenues of $250.8 million, a 2.8% decline year-over-year. Net income stood at $2.5 million or $0.08 per share, down 50% from last year. Adjusted EBITDA dropped 42.6% to $12.4 million. The company anticipates a $15 million profitability boost from new pricing implemented in July 2022. Despite challenges in the warehouse automation sector, CVG has won 29 new business platforms in the Electric Vehicle market, projected to generate $104 million in annual revenue when fully ramped up.

CVG (NASDAQ: CVGI) is set to hold its quarterly conference call on August 5, 2022, at 10:00 a.m. ET to discuss its second-quarter financial results. A press release and presentation will be available prior to the call. Participants can join via toll-free numbers and can also access a webcast on the company’s investor website. A telephonic replay will be available until August 19, 2022. CVG focuses on delivering innovative solutions in design, engineering, and manufacturing across various industries.

CVG (NASDAQ: CVGI) announced its participation in the Stifel 2022 Cross Sector Insight Conference on June 7, 2022. Harold Bevis, President and CEO, alongside CFO Christopher Bohnert, will present at 9:45am ET and engage in one-on-one investor meetings. A webcast of the presentation will be available on the company’s investor website, with materials archived for 90 days post-event. The company focuses on providing innovative design and manufacturing solutions across global industries, emphasizing client value.

CVG (NASDAQ: CVGI) announced an amendment to its senior secured credit facilities, raising the total to $325 million from $275 million. This includes a $175 million Term Loan A and a $150 million Revolving Credit Facility. The amendment provides an extra $50 million in liquidity to support growth initiatives and includes a 50 bps interest rate reduction, saving approximately $1 million annually. The maturity date is extended to May 12, 2027, with pro-forma leverage increasing from 3.25x to 3.75x until December 31, 2022.

CVG (NASDAQ: CVGI) will present at the Sidoti Virtual Micro Cap Conference on May 11, 2022, at 10:00 a.m. ET. The presentation will feature CEO Harold Bevis and CFO Christopher Bohnert. Investors can access the webcast through the company's investor relations page, with materials available for 30 days post-event. Management will also engage in virtual meetings with registered investors during the conference.

CVG (NASDAQ: CVGI) reported Q1 2022 sales of $244.4 million, down 0.3% year-over-year, with net income of $4.0 million or $0.12 per diluted share. Adjusted EPS was $0.16, down 40.7%. Operating income fell 45.5% to $8.4 million. Despite challenges from COVID and inflation, the company secured $89 million in new business, primarily in electrification. Upcoming efforts include a footprint investment program aimed at enhancing competitiveness. Profit improvements are anticipated in H2 2022.

CVG (NASDAQ: CVGI) announced a new pricing agreement with its top two customers, which together represent about 30% of the company's revenue. Previously, these customers generated zero or negative profit for the company. The new pricing, effective this year, is expected to enhance CVG's profitability significantly. This development will be discussed in more detail during the First Quarter 2022 Earnings Call on May 5th at 10am ET, highlighting a crucial advancement in CVG's financial outlook.

CVG (NASDAQ: CVGI) has scheduled its quarterly conference call for May 5, 2022, at 10:00 a.m. ET to discuss its first quarter 2022 financial results. A press release and presentation will precede the call, which can be accessed via the company’s website. Participants can join the call via toll-free and international dial-in numbers. The telephonic replay will be available for two weeks post-call. CVG focuses on providing innovative solutions to complex engineering challenges across various industries.