Vehicle systems manufacturer Commercial Vehicle Group (NASDAQ:CVGI) will be reporting earnings this Monday after market close. Here’s what to expect.
Commercial Vehicle Group beat analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $169.8 million, down 12.8% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA 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 29.7% year on year to $161.6 million, a further deceleration from the 12.3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.07 per share.
The majority of analysts covering the company have 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 Q2 results, giving us a hint as to what we can expect. Greenbrier delivered year-on-year revenue growth of 2.7%, beating analysts’ expectations by 7.3%, and PACCAR reported a revenue decline of 15.7%, topping estimates by 2.6%. Greenbrier traded up 21.1% following the results while PACCAR was also up 8.9%.
Read our full analysis of Greenbrier’s results here and PACCAR’s results here.
Investors in the heavy transportation equipment segment have had steady hands going into earnings, with share prices flat over the last month. Commercial Vehicle Group is down 20.7% during the same time and is heading into earnings with an average analyst price target of $4 (compared to the current share price of $1.65).
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