Commercial Vehicle, together with its subsidiaries, designs and manufactures cab related products and systems for the commercial vehicle markets worldwide.
It offers seats and seating systems comprising mechanical and air suspension seats, static seats, bus seats, heavy truck seats, and construction and other commercial vehicle seats.
Commercial also manufacturers office seating products for various office environments, such as emergency services, call centers, receptions, studios, boardrooms, and general office, as well as electronic wire harnesses and panel assemblies.
CVGI was founded in 2000 and is headquartered in New Albany, Ohio. Competitors include Paccar (PCAR) and Herman Miller (MLHR).
Commercial Vehicle Group Beats Expectations for Two Straight Quarters
Commercial Vehicle Group has topped the Zacks Consensus Estimate in each of the last two quarters. Both surprises were big, and exactly what aggressive growth investors look for in terms of accelerating earnings and stronger beats. The September 2011 quarter saw revenue of $217 million, $6 million more than expected and EPS of $0.26, $0.05 higher than the Zacks Consensus Estimate.
As a result of the 23% positive earnings surprise in the September 2011 quarter, the stock moved higher by more than 17%. That followed a 19% drop after the company missed estimates in the June 2011 quarter.
Commercial Vehicle Group Recently Reported Earnings
On February 15, 2012 the company reported revenue of $226 million approximately $6 million more than the Zacks Consensus Estimate and higher than the $158 million reported in the year ago period. EPS of $0.36 was $0.11 higher than the Zacks Consensus estimates and well above the $0.14 of EPS from the prior year. Following the report, the stock moved higher by 5.6%.