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Chicago Rivet & Machine Co. (CVR), founded in 1920 and headquartered in Naperville, Illinois, is a prominent player in the North American fastener industry.
Operating through two core segments—fasteners and assembly equipment—the company has built a strong reputation for manufacturing and selling high-quality products. The fastener segment specializes in rivets, cold-formed fasteners, parts, and screw machine products. These products are essential components in various manufacturing processes, particularly in the automobile and automotive component sectors. The assembly equipment segment focuses on producing automatic rivet setting machines and assembly equipment, along with the necessary parts and tools for these machines.
Chicago Rivet & Machine Co. sells its products primarily to automobile and automotive component manufacturers through independent sales representatives, ensuring a widespread reach across the industry. The company’s commitment to innovation and quality has cemented its position as a reliable supplier in the market.
Recent achievements underscore Chicago Rivet & Machine Co.'s financial vitality and ongoing projects. For instance, the company announced its second quarter results for 2023 on August 7, 2023, indicating steady performance. Similarly, updates for the third quarter of 2023 were shared on November 7, 2023, and the first quarter results for 2024 were disclosed on May 10, 2024.
With a focus on both product segments, the fastener segment remains the primary revenue generator, contributing significantly to the company’s overall earnings. Geographically, most of the revenue is derived from within the United States, highlighting the company’s strong domestic presence.
Chicago Rivet & Machine Co. continues to be an essential player in the fastener and assembly equipment industry, leveraging its decades of experience and technical expertise to serve a diverse customer base effectively.
Chicago Rivet & Machine Co. (NYSE American: CVR) reported its Q1 2022 financial results on May 6, 2022. The company achieved net sales of $9,197,696, a slight decrease from $9,304,949 in Q1 2021. Income before income taxes fell to $570,313 from $690,128 year-over-year. Net income also declined to $447,313, compared to $540,128 in the previous year. Earnings per share decreased from $.56 to $.46.
Chicago Rivet & Machine Co. (CVR) reported its audited results for 2021, showcasing significant growth. The company achieved net sales of $33.97 million, up from $27.59 million in 2020. Notably, net income surged to $1.11 million compared to $50,450 the previous year, resulting in a net income per share of $1.15, up from $0.05. The average common shares outstanding remained stable at 966,132. This performance indicates a robust recovery and enhanced profitability for CVR.
On February 21, 2022, Chicago Rivet & Machine Co. (NYSE American: CVR) declared a quarterly dividend of 22 cents per share. This dividend is payable on March 18, 2022, to shareholders of record as of March 4, 2022. The announcement signifies the company's ongoing commitment to return value to its shareholders, indicating a stable financial position.
On November 15, 2021, Chicago Rivet & Machine Co. (NYSE American: CVR) announced a regular quarterly dividend of 22 cents per share. This dividend is payable on December 20, 2021 to shareholders of record by the close of business on December 3, 2021. This declaration indicates the company's ongoing commitment to returning value to its shareholders.
Chicago Rivet & Machine Co. (CVR) reported its third quarter 2021 results, showing net sales of $8.56 million, up from $7.65 million in Q3 2020. For the first nine months, net sales rose to $26.23 million from $19.33 million. However, the company faced a net income loss of $172,659 in Q3 2021 compared to a profit of $309,135 in Q3 2020. Year-to-date, net income was $1.03 million, a recovery from a loss of $413,813 in 2020. Earnings per share decreased to $0.18 from $0.32 year-over-year.
On August 16, 2021, Chicago Rivet & Machine Co. (NYSE American: CVR) announced a quarterly dividend of 22 cents per share. The dividend will be payable on September 20, 2021 to shareholders of record by the close of business on September 3, 2021. This decision reflects the company's ongoing commitment to providing returns to its shareholders.
Chicago Rivet & Machine Co. (CVR) reported a strong performance for Q2 2021, with net sales of $8.36 million, up from $4.10 million in Q2 2020. For the first six months, sales reached $17.67 million, compared to $11.68 million last year. The company posted a net income of $319,507 for Q2, reversing a loss of $779,516 in the same quarter of 2020. Income per share increased to $0.33 from a loss of $0.81. Overall, results indicate a return to profitability and significant sales growth year-over-year.
Chicago Rivet & Machine Co. (NYSE American: CVR) declared a quarterly dividend of 22 cents per share on May 11, 2021. This dividend will be payable on June 18, 2021, to shareholders of record as of the close of business on June 4, 2021. This decision reflects the company’s commitment to returning value to its shareholders and maintains a consistent dividend payment history.
Chicago Rivet & Machine Co. (CVR) reported a significant increase in its first quarter results for 2021. Net sales rose to $9,304,949 from $7,576,455 in 2020. Income before taxes also saw a dramatic increase to $690,128, compared to $71,568 in the previous year. Net income reached $540,128, resulting in a net income per share of $0.56 versus $0.06 in 2020. Average shares outstanding remained stable at 966,132.
Chicago Rivet & Machine Co. (CVR) reported its audited results for 2020, showing a notable decline in performance compared to 2019. Net sales fell to $27,590,653 from $32,873,002, while net income dropped significantly from $538,314 to $50,450. Income before income taxes also decreased to $65,450 from $683,314. The net income per share fell to $0.05, down from $0.56 in the previous year. The average shares outstanding remained constant at 966,132.
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