Commercial Vehicle Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:21 pm EDT
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Commercial Vehicle Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 246.69 million compared to USD 251.41 million a year ago. Net income was USD 7.29 million compared to USD 3.55 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 0.22 compared to USD 0.11 a year ago.
For the nine months, sales was USD 771.59 million compared to USD 746.64 million a year ago. Net income was USD 26.13 million compared to USD 10.02 million a year ago. Basic earnings per share from continuing operations was USD 0.79 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.78 compared to USD 0.3 a year ago.
Commercial Vehicle Group, Inc. is a global provider of systems, assemblies and components to the global commercial vehicle market, the electric vehicle market, and the industrial automation markets. The Company delivers solutions to complex design, engineering, and manufacturing problems. The Company's segments include Vehicle Solutions, Electrical Systems, Aftermarket & Accessories, and Industrial Automation. The Vehicle Solutions segment designs, manufactures and sells commercial vehicle seats and plastic and trim components. The Electrical Systems segment designs, manufactures and sells cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies and design and engineering for these applications. The Aftermarket & Accessories segment designs, manufactures, and sells seats and components, commercial vehicle accessories, and office seats. The Industrial Automation segment designs, manufactures and sells warehouse automation subsystems.