Commercial Vehicle Group: Q1 Earnings Snapshot
NEW ALBANY, Ohio (AP) _ Commercial Vehicle Group Inc. (CVGI) on Tuesday reported first-quarter net income of $8.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New Albany, Ohio-based company said it had net income of 26 cents. Earnings, adjusted for non-recurring costs, came to 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The supplier of products for heavy duty trucks posted revenue of $245.1 million in the period.
Commercial Vehicle Group shares have risen 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.22, rising fivefold in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVGI at https://www.zacks.com/ap/CVGI