Commercial Vehicle Group (CVGI) Misses Q4 EPS by 9c

Commercial Vehicle Group (NASDAQ: CVGI) reported Q4 EPS of ($0.05), $0.09 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $216 million versus the consensus estimate of $183.9 million.

2021 Demand Outlook

According to a February 2021 report by ACT Research, a publisher of industry market research, 2020 North American Class 8 truck build production was 214,249 units and Class 5-7 production was 223,495 units. 2021 North American Class 8 truck production levels are expected to be at 302,000 units and Class 5-7 production are expected to be at 246,000 units. This outlook supports demand for the company's truck products. The outlook for electric vehicle adoption rates are favorable as well and supports continuance of the company's development programs in Electric Vehicles.

According to Logistics IQ, demand for warehouse automation products is expected to grow approximately 14% per year through 2026. This outlook supports demand for the company's warehouse automation products.

For earnings history and earnings-related data on Commercial Vehicle Group (CVGI) click here.

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