Vehicle systems manufacturer Commercial Vehicle Group (NASDAQ: CVGI) will be reporting earnings this Tuesday after market close. Here’s what investors should know.
Commercial Vehicle Group beat analysts’ revenue expectations last quarter, reporting revenues of $154.8 million, down 5.2% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.
Is Commercial Vehicle Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Commercial Vehicle Group’s revenue to decline 5.8% year on year, improving from the 12.8% decrease it recorded in the same quarter last year.
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 multiple 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. Federal Signal delivered year-on-year revenue growth of 34.9%, beating analysts’ expectations by 8%, and PACCAR reported a revenue decline of 8.9%, falling short of estimates by 0.9%. Federal Signal traded up 10.2% following the results while PACCAR was down 7.1%.
Read our full analysis of Federal Signal’s results here and PACCAR’s results here.
There has been positive sentiment among investors in the heavy transportation equipment segment, with share prices up 9.4% on average over the last month. Commercial Vehicle Group is down 4% during the same time and is heading into earnings with an average analyst price target of $5 (compared to the current share price of $4.15).
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