Vehicle systems manufacturer Commercial Vehicle Group (NASDAQ: CVGI) will be reporting results tomorrow afternoon. Here’s what investors should know.
Commercial Vehicle Group beat analysts’ revenue expectations by 3.1% last quarter, reporting revenues of $163.3 million, down 26.8% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.
Is Commercial Vehicle Group a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Commercial Vehicle Group’s revenue to decline 29.5% year on year to $163.5 million, a further deceleration from the 11.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.15 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Commercial Vehicle Group has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Commercial Vehicle Group’s peers in the heavy transportation equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Shyft delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 2.8%, and Federal Signal reported revenues up 9.2%, topping estimates by 1%. Shyft traded up 18.1% following the results while Federal Signal was also up 11.4%.
Read our full analysis of Shyft’s results here and Federal Signal’s results here.
There has been positive sentiment among investors in the heavy transportation equipment segment, with share prices up 13% on average over the last month. Commercial Vehicle Group is down 12% during the same time and is heading into earnings with an average analyst price target of $5 (compared to the current share price of $0.99).
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