Commercial Vehicle Group
The 10-second takeaway
For the quarter ended June 30 (Q2), Commercial Vehicle Group met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped to a loss.
Margins shrank across the board.
Commercial Vehicle Group reported revenue of $198.9 million. The two analysts polled by S&P Capital IQ anticipated a top line of $198.7 million on the same basis. GAAP reported sales were 18% lower than the prior-year quarter's $242.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.01. The four earnings estimates compiled by S&P Capital IQ averaged $0.10 per share. Non-GAAP EPS of $0.01 for Q2 were 98% lower than the prior-year quarter's $0.48 per share. GAAP EPS were -$0.06 for Q2 against $0.46 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 11.5%, 390 basis points worse than the prior-year quarter. Operating margin was 1.1%, 670 basis points worse than the prior-year quarter. Net margin was -0.8%, 620 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $222.3 million. On the bottom line, the average EPS estimate is $0.18.
Next year's average estimate for revenue is $829.7 million. The average EPS estimate is $0.34.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 62 members out of 89 rating the stock outperform, and 27 members rating it underperform. Among 31 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Commercial Vehicle Group a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Commercial Vehicle Group is outperform, with an average price target of $9.00.
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