NASDAQ$CVGI
Commercial Vehicle Group Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported record fourth quarter sales in the Electrical Systems Segment, driven by Warehouse Automation and secured an estimated $100+ million of net annualized new business awards during 2020, driven by Warehouse Automation and Electric Vehicles.
CVG reported a 14.0% increase in revenue to $216.0 million in Q4 2020, driven primarily by growth in warehouse automation. Operating income increased by $9.3 million to $5.0 million, and adjusted EBITDA increased by $9.4 million to $13.0 million. The company secured an estimated $100+ million of net annualized new business awards during 2020.
- Revenue increased by 14.0% to $216.0 million due to growth in warehouse automation.
- Operating income increased by $9.3 million to $5.0 million due to higher volume and improved cost structure.
- Adjusted EBITDA increased by $9.4 million to $13.0 million due to higher revenues, lower costs, and improved sales mix.
- Warehouse automation revenues grew to $34.4 million, representing 15.9% of Company sales.
Headline financials
Revenue & EPS history
CVG · Revenue · Quarterly
$216M
Revenue by segment
CVG · $218M total across 2 segments · Q4 2020
- Global Electrical Systems$139M+21.7%63.7%
- Global Seating$79.1M+3.4%36.3%
Forward guidance
The company expects North American Class 8 truck production levels to be at 302,000 units and Class 5-7 production to be at 246,000 units in 2021. Demand for warehouse automation products is expected to grow approximately 14% per year through 2026.
Tailwinds
- North American Class 8 truck production levels are expected to increase.
- North American Class 5-7 production levels are expected to increase.
- The outlook for electric vehicle adoption rates are favorable.
- Demand for warehouse automation products is expected to grow approximately 14% per year through 2026.
- Company goal to deliver more than $150 million of sales in 2021 from warehouse automation.
Headwinds
- COVID-19 induced supply and cost risks in the business.
- The full year and specifically the 2nd quarter were impacted significantly by COVID-19.
- There is still COVID-19 risks in the business.
- Multi-year effort to make CVG a secular growth company.
- Still has much to do.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+0.5%
Avg return
Earnings day
+5.7%
Avg return
5 days after
+7.1%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+32.0%
Q2 2020
Best reaction
-23.8%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | +20.0% | +29.9% | |
| Q4 2026 | +25.5% | +123.5% | +142.0% | |
| Q3 2025 | +0.0% | +2.0% | +8.7% | |
| Q1 2025 | +14.7% | +60.0% | +56.7% | |
| Q4 2024 | -3.8% | -15.6% | -50.5% | |
| Q3 2024 | -20.3% | -15.9% | -23.6% | |
| Q2 2024 | -17.6% | -28.8% | -31.7% | |
| Q1 2024 | -6.4% | -5.9% | -9.2% | |
| Q4 2023 | -8.2% | -7.5% | -3.7% | |
| Q3 2023 | -10.9% | -15.5% | -0.9% | |
| Q2 2023 | +8.9% | -2.8% | -12.3% | |
| Q1 2023 | +18.5% | +36.7% | +32.5% | |
| Q4 2022 | -12.7% | -10.7% | -18.7% | |
| Q3 2022 | +4.5% | +21.1% | +48.8% | |
| Q2 2022 | +0.7% | -2.6% | -17.2% | |
| Q1 2022 | +1.5% | -3.5% | -3.2% | |
| Q4 2021 | -1.8% | +7.5% | +7.9% | |
| Q3 2021 | -10.8% | -11.7% | -17.0% | |
| Q2 2021 | +2.7% | +5.0% | +11.2% | |
| Q1 2021 | +7.4% | +17.0% | +0.6% | |
| Q4 2020 | +0.5% | +7.1% | -0.6% | |
| Q3 2020 | +4.9% | +9.3% | +31.8% | |
| Q2 2020 | +32.0% | +48.1% | +59.9% | |
| Q1 2020 | +6.1% | +21.9% | +64.5% | |
| Q4 2019 | -23.8% | -40.7% | -53.3% | |
| Q3 2019 | -4.6% | -5.0% | -9.3% | |
| Q2 2019 | -7.3% | -8.4% | -22.6% | |
| Q1 2019 | -6.5% | -16.1% | -27.7% | |
| Q4 2018 | +4.4% | +0.8% | +7.4% | |
| Q3 2018 | -1.4% | -2.1% | -5.3% | |
| Q2 2018 | +24.0% | +26.8% | +32.5% | |
| Q1 2018 | +27.4% | +19.8% | +15.1% | |
| Q4 2017 | -19.2% | -21.3% | -34.2% | |
| Q3 2017 | +21.6% | +20.1% | +32.1% | |
| Q2 2017 | -21.4% | -28.7% | -25.2% | |
| Q1 2017 | -2.5% | +10.5% | -0.1% | |
| Q4 2016 | -2.3% | -4.4% | +13.1% | |
| Q3 2016 | +1.7% | +4.1% | +12.9% | |
| Q2 2016 | +7.7% | +9.7% | +37.2% | |
| Q1 2016 | +12.8% | — | — | |
| Q4 2015 | -9.2% | — | — | |
| Q3 2015 | -6.7% | — | — | |
| Q2 2015 | -12.3% | — | — | |
| Q1 2015 | +3.0% | — | — | |
| Q4 2014 | +11.5% | — | — | |
| Q3 2014 | -1.0% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -6.4% | — | — | |
| Q4 2013 | +2.2% | — | — | |
| Q3 2013 | -5.3% | — | — | |
| Q2 2013 | -7.7% | — | — | |
| Q1 2013 | +3.6% | — | — | |
| Q4 2012 | -4.8% | — | — | |
| Q3 2012 | +4.3% | — | — | |
| Q2 2012 | -8.6% | — | — | |
| Q1 2011 | -2.3% | — | — | |
| Q1 2012 | +4.5% | — | — | |
| Q4 2009 | +5.5% | — | — | |
| Q4 2011 | +5.5% | — | — | |
| Q3 2011 | +19.2% | — | — | |
| Q3 2010 | +19.2% | — | — | |
| Q4 2010 | -12.3% | — | — | |
| Q2 2010 | -12.3% | — | — | |
| Q2 2011 | -12.3% | — | — | |
| Q1 2010 | +8.0% | — | — |
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