COMMERCIAL VEHICLE Reports Profitable Q2 Earnings for Fiscal Year 2023
August 7, 2023
☀️Earnings Overview
On August 1, 2023, COMMERCIAL VEHICLE ($NASDAQ:CVGI) announced its financial results for the second quarter of fiscal year 2023, ended June 30, 2023. The total revenue for the quarter amounted to 262.2 million US dollars, representing a 4.5% increase from the same period of the prior year. Furthermore, their net income was 10.1 million US dollars, compared to 2.5 million dollars in the same quarter of the previous year.
Market Price
On Tuesday, COMMERCIAL VEHICLE reported strong financials for its Q2 earnings of the fiscal year 2023. The stock opened at $10.5 and closed at $10.7, showing a 1.5% increase from the previous closing price of 10.5. This increase was attributed to the company’s ability to increase their sales volumes and better manage their expenses. Analysts noted that the company had also increased their operating expenses significantly, leading to higher margins and ultimately higher profits.
Overall, COMMERCIAL VEHICLE has reported a strong second quarter and appears to be on track to end the fiscal year 2023 on a profitable note. The company has been able to increase their sales and manage their expenses, leading to higher margins and ultimately higher profits. The stock market has taken note of the company’s performance, as evidenced by the stock’s increase in price on Tuesday. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Commercial Vehicle. More…
| Total Revenues | Net Income | Net Margin |
| 1.01k | -9.6 | -0.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Commercial Vehicle. More…
| Operations | Investing | Financing |
| 90.4 | -19.71 | -50.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Commercial Vehicle. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 500.49 | 356.73 | 4.29 |
Key Ratios Snapshot
Some of the financial key ratios for Commercial Vehicle are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.5% | -20.9% | 2.6% |
| FCF Margin | ROE | ROA |
| 7.0% | 11.9% | 3.3% |
Analysis
At GoodWhale, we have conducted an analysis of the health of COMMERCIAL VEHICLE, and based on our Star Chart, the company is strong in cashflows, medium in assets, profitability, and weak in dividend and growth. With an intermediate health score of 6/10, considering its cashflows and debt, we believe that COMMERCIAL VEHICLE might be able to sustain future operations in times of crisis. We have classified COMMERCIAL VEHICLE as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. Investors who are looking for a company with a strong balance sheet and resilient cashflow might be interested in investing in COMMERCIAL VEHICLE. More…
Peers
The company’s products are used in a variety of applications, including buses, trucks, construction vehicles, agricultural equipment, and other specialty vehicles. Commercial Vehicle Group Inc. has a long history of competition with Lear Corp, Aptiv PLC, and Nanjing YueBoo Power System Co Ltd.
– Lear Corp ($NYSE:LEA)
Lear is a global automotive technology leader in seating and electrical/electronic systems. The company’s products are designed to support all major automotive manufacturers worldwide. The company has a market cap of 8.51B as of 2022 and a Return on Equity of 4.86%.
– Aptiv PLC ($NYSE:APTV)
Aptiv PLC is a leading global technology company that develops safer, greener and more connected solutions enabling the future of mobility. The company’s market capitalization is $29.62 billion and its return on equity is 6.97%. Aptiv’s products and services are used in over 150 countries around the world and the company has a strong presence in Europe, Asia Pacific and North America. Aptiv’s products include advanced driver assistance systems, vehicle networking solutions, and advanced safety systems. The company’s solutions are used in a variety of applications including passenger cars, commercial vehicles, and off-highway vehicles.
– Nanjng YueBoo Power System Co Ltd ($SZSE:300742)
Nanjing Yuebo Power System Co., Ltd. is engaged in the design, research and development, production and sale of power system products. The Company’s products include power distribution cabinets, power distribution boards and other products. Nanjing Yuebo Power System Co., Ltd. is a high-tech enterprise in Jiangsu Province. The Company is mainly engaged in the design, research and development, production and sale of power system products.
Summary
The second quarter of 2023 was a strong one for COMMERCIAL VEHICLE, as the company reported total revenue of USD 262.2 million, a 4.5% increase from FY2022 Q2. Net income also increased significantly, reaching USD 10.1 million from 2.5 million in the prior year. These figures show that COMMERCIAL VEHICLE is performing well and is a good investment opportunity for potential investors. Its expanding revenue and income indicate that the company is in a good financial position and has strong potential for future growth.
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