Yahoo Finance Commercial Vehicle Group First Quarter 2024 Earnings: Misses Expectations
Commercial Vehicle Group (NASDAQ:CVGI) First Quarter 2024 Results
Key Financial Results
Revenue: US$232.1m (down 12% from 1Q 2023).
Net income: US$2.94m (down 66% from 1Q 2023).
Profit margin: 1.3% (down from 3.3% in 1Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$0.088 (down from US$0.27 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Commercial Vehicle Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 56%.
Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Machinery industry in the US.
Performance of the American Machinery industry.
The company's shares are down 6.8% from a week ago.
Valuation
If you are seeking undervalued stocks, our analysis of 6 valuation measures indicates Commercial Vehicle Group could be a good place to look. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.
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