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) delivers essential components for commercial vehicles across global markets, specializing in cab systems, electrical solutions, and industrial automation. This news hub provides investors and industry professionals with timely updates on corporate developments, financial milestones, and technological advancements.
Access authoritative coverage of CVGI's earnings reports, product innovations, strategic partnerships, and leadership updates. Our curated collection ensures you stay informed about critical announcements impacting the commercial vehicle sector, from new contract wins to manufacturing expansions.
Key updates include quarterly financial results, major OEM supply agreements, automation technology launches, and aftermarket service expansions. All content is sourced directly from verified corporate communications and regulatory filings.
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CVG (NASDAQ: CVGI) announced a virtual non-deal roadshow hosted by Barrington Research on March 15, 2022. The event will feature Harold Bevis, President and CEO, alongside Christopher Bohnert, CFO, discussing the Company’s transformation strategy aimed at enhancing sales diversification and profitability.
CVG is a global provider of systems and components for the commercial vehicle, electric vehicle, and warehouse automation markets. More details can be found at www.cvgrp.com.
CVG reported Q4 2021 revenue of $228.9 million, up 6.0% year-over-year, with a net income of $2.6 million or $0.08 per share. The full-year revenue reached a record $971.6 million, a 35.4% increase. Despite challenges from cost inflation and supply chain issues, the company secured over $500 million in new business in 26 months, primarily from the electric vehicle sector. Adjusted EBITDA for Q4 was $12.9 million, slightly down from the previous year. The company is focusing on transformations to enhance profitability and reduce legacy customer dependence.
CVGI (NASDAQ: CVGI) will participate in the Evercore ISI Industrial Conference on March 1, 2022, at 3:00 p.m. ET, featuring CEO Harold Bevis and CFO Christopher Bohnert. The event will be virtual, and interested parties can access the webcast on the company’s investor relations website. Presentation materials will also be available for 30 days post-event. Additionally, management will meet virtually with registered investors at the conference, aiming to enhance investor engagement.
CVG (NASDAQ: CVGI) announced a quarterly conference call on March 1, 2022, at 10:00 a.m. ET to discuss its fourth quarter and full year 2021 financial results. The details for toll-free and international participants are provided, along with a link to access the call via the company’s website. A telephonic replay will be available for two weeks after the call. CVG is recognized as a key player in providing components and systems for commercial vehicles, electric vehicles, and warehouse automation.
CVG (NASDAQ: CVGI) has secured development and production contracts for 11 hybrid and electric vehicle customers in Europe and North America since 2020. This growth has led to an annualized business volume exceeding $200 million. The company has leveraged its expertise in off-road vehicle electrical systems to create a new product line and enhance its engineering capabilities. CVG aims to significantly contribute to the electric vehicle market and greenhouse gas reduction, with a focus on hydrogen fuel and electric hybrids, delivery vans, and battery systems.
CVG (NASDAQ: CVGI) announced a virtual non-deal roadshow on February 8, 2022, hosted by Colliers Securities. CEO Harold Bevis and CFO Christopher Bohnert will engage with investors to discuss the company's transformation strategy, aimed at driving sales diversification and enhancing profitability. This initiative reflects CVG's commitment to adapt and thrive within the evolving traditional and electric vehicle markets.
CVG (NASDAQ: CVGI) announced that CEO Harold Bevis and CFO Christopher Bohnert will present at the Sidoti Virtual Small Cap Investor Conference on January 19, 2022, at 9:15 a.m. ET. Investors can access the webcast through the company's investor section. Presentation materials will be available on the website for 30 days. Management will also engage with conference attendees. CVG specializes in components and systems for the commercial vehicle, electric vehicle, and warehouse automation markets.
CVG (NASDAQ: CVGI) announced that CEO Harold Bevis and CFO Christopher Bohnert will present at the Sidoti Virtual Microcap Investor Conference on December 8, 2021, at 2:30 p.m. ET. The webcast link will be available on the company's investor section of their website. Additionally, management will engage with registered investors during the conference. CVG specializes in components and systems for commercial and electric vehicles, as well as warehouse automation.
CVGI announced the appointment of Rich Tajer as Chief Commercial Officer (CCO), expanding his role while he continues as Business Leader of Electrical Systems. Mr. Tajer will lead new customer accounts, direct the global sales team, and influence product development agendas. Over the past 21 months, CVGI secured 250 new business awards, targeting approximately $200 million in annual revenue. The company boasts a $1 billion pipeline of potential business, indicating strong growth potential in electric vehicles and warehouse automation.
CVG (NASDAQ: CVGI) reported Q3 2021 revenues of $239.6 million, a 27.7% increase year-over-year, driven by warehouse automation business and material cost pass-throughs. Net income rose to $7.5 million, or $0.23 per diluted share. Adjusted EBITDA was $16.9 million, up 3.0%.
The company secured $168 million of net new annualized business year-to-date and is advancing its organic growth program. However, the legacy truck business faces challenges due to supply chain disruptions, inflation, and increasing operational costs.
