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Commercial Vehicle Group Inc (CVGI.OQ)

CVGI.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Olma Capital Management Reports 6.0% Stake In Commercial Vehicle Group Inc
Friday, 25 Sep 2020 

Sept 24 (Reuters) - Commercial Vehicle Group Inc ::OLMA CAPITAL MANAGEMENT LIMITED REPORTS 6.0% STAKE IN COMMERCIAL VEHICLE GROUP INC AS OF SEPTEMBER 14 - SEC FILING.  Full Article

Commercial Vehicle Group CFO Submitted His Resignation Effective June 10
Thursday, 28 May 2020 

May 27 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP - ON MAY 27, C. TIMOTHY TRENARY, CFO, TREASURER SUBMITTED HIS RESIGNATION OF EMPLOYMENT TO CO TO BE EFFECTIVE ON JUNE 10.COMMERCIAL VEHICLE GROUP INC - APPOINTED EDMUND S. CARNEY, AS INTERIM CFO AND TREASURER.  Full Article

Commercial Vehicle Group Posts Q1 Loss Per Share Of $0.80
Tuesday, 19 May 2020 

May 18 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP ANNOUNCES FIRST QUARTER 2020 RESULTS.Q1 LOSS PER SHARE $0.80.Q1 REVENUE FELL 23.1 PERCENT TO $187.1 MILLION.Q1 ADJUSTED EARNINGS PER SHARE $0.02 INCLUDING ITEMS.  Full Article

Commercial Vehicle Group Amends Credit Agreements
Tuesday, 12 May 2020 

May 11 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP AMENDS CREDIT AGREEMENTS TO PROVIDE INCREASED FLEXIBILITY.NEW AGREEMENT TEMPORARILY SUSPENDS LEVERAGE RATIO COVENANT THROUGH FISCAL QUARTER ENDING DECEMBER 31, 2020.AMENDMENT TEMPORARILY ADDS MINIMUM CONSOLIDATED LIQUIDITY COVENANT OF $40 MILLION FOR QTRS ENDED JUNE 30, 2020, THROUGH SEPT 30, 2021.NEW AGREEMENT RESETS LEVERAGE RATIO COVENANT LEVELS FOR QUARTERLY PERIODS ENDED MARCH 31, 2021, THROUGH SEPTEMBER 30, 2021.  Full Article

Commercial Vehicle Group Inc Sees Q1 Net Sales $185 To $190 Million
Wednesday, 29 Apr 2020 

Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR FIRST QUARTER 2020 AND PROVIDES A COVID-19 BUSINESS UPDATE.COMMERCIAL VEHICLE GROUP INC SEES Q1 NET SALES $185 TO $190 MILLION.COMMERCIAL VEHICLE GROUP INC - STOPPED MAKING SPECIFIC PROJECTIONS FOR YEAR.COMMERCIAL VEHICLE GROUP INC SEES Q1 ADJUSTED EBITDA $10 TO $13 MILLION.COMMERCIAL VEHICLE GROUP INC - ACHIEVING APPROXIMATELY 30% REDUCTION IN SALARIES, BENEFITS, TRAVEL, DISCRETIONARY EXPENSES.COMMERCIAL VEHICLE GROUP INC - SIGNIFICANTLY REDUCED CAPITAL EXPENDITURES TO MAINTENANCE LEVELS.COMMERCIAL VEHICLE GROUP INC - REDUCED PROCUREMENT OF NEW MATERIALS TO BE IN LINE WITH TEMPORARY LOWER LEVELS OF PRODUCTION.COMMERCIAL VEHICLE GROUP INC - EXPECT POST-COVID VEHICLE PRODUCTION IN MATURE MARKETS TO COME BACK SLOWLY & HAVE ADJUSTED COST STRUCTURES ACCORDINGLY.  Full Article

Commercial Vehicle Group Announces Actions In Response To Covid-19 Pandemic
Monday, 13 Apr 2020 

April 13 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP ANNOUNCES ACTIONS IN RESPONSE TO COVID-19 PANDEMIC.COMMERCIAL VEHICLE GROUP INC - OPERATIONS IN CHINA HAVE RETURNED TO NEAR PRE-DISRUPTION LEVELS.COMMERCIAL VEHICLE GROUP - HAVE RETAINED STAFFING WITH LEAN STRUCTURES FOR ESSENTIAL OPERATIONS, & MANAGING WORKING CAPITAL INVESTMENTS AGGRESSIVELY.COMMERCIAL VEHICLE GROUP INC - TEMPORARY ACTIONS INCLUDE 50% REDUCTION OF COMPENSATION FOR CEO, HAROLD BEVIS.COMMERCIAL VEHICLE GROUP INC - TEMPORARY ACTIONS INCLUDE 40% REDUCTION OF COMPENSATION FOR REMAINING EXECUTIVE LEADERSHIP TEAM.COMMERCIAL VEHICLE GROUP INC - TEMPORARY ACTIONS INCLUDE 20% REDUCTION OF ANNUAL CASH RETAINER COMPENSATION FOR CVG'S BOARD OF DIRECTORS.COMMERCIAL VEHICLE GROUP INC - TEMPORARY ACTIONS INCLUDE SELECT REDUCTION IN WORKFORCE AND FURLOUGHING OF PRODUCTION EMPLOYEES.COMMERCIAL VEHICLE GROUP INC - TEMPORARY ACTIONS INCLUDE ELIMINATION OF DISCRETIONARY EXPENSES AND NON-ESSENTIAL CAPITAL EXPENDITURES.COMMERCIAL VEHICLE GROUP INC - WITHDRAWING ITS 2020 GUIDANCE RELATED TO NORTH AMERICAN CLASS 5-8 TRUCK AND GLOBAL CONSTRUCTION PRODUCTION.  Full Article

Commercial Vehicle Group Announces CEO Transition
Monday, 23 Mar 2020 

March 23 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP ANNOUNCES CEO TRANSITION.BOARD OF DIRECTORS HAS UNANIMOUSLY APPOINTED HAROLD C. BEVIS AS PRESIDENT AND CHIEF EXECUTIVE OFFICER.BEVIS WILL ALSO REMAIN A DIRECTOR OF COMPANY.HAROLD BEVIS REPLACES PATRICK MILLER, EFFECTIVE IMMEDIATELY.  Full Article

Commercial Vehicle Group Says Committee Concluded Certain Financial Statements Should No Longer Be Relied Upon
Tuesday, 17 Mar 2020 

March 16 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP INC - AUDIT COMMITTEE CONCLUDED CERTAIN FINANCIAL STATEMENTS SHOULD NO LONGER BE RELIED UPON DUE TO MISSTATEMENTS.COMMERCIAL VEHICLE GROUP - WILL RESTATE FINANCIAL STATEMENTS FOR YEAR ENDED DECEMBER 31, 2018, QTRLY ENDED MARCH 31, 2019 & 2018, AMONG OTHERS.COMMERCIAL VEHICLE GROUP - MISSTATEMENTS FOR PERIOD IDENTIFIED WERE DUE TO FORMER EMPLOYEE PREPARING MANUAL JOURNAL ENTRIES TO UNDERSTATE COST OF REVENUE.COMMERCIAL VEHICLE GROUP INC - MANAGEMENT HAS DETERMINED CERTAIN MATERIAL WEAKNESSES EXISTED IN INTERNAL CONTROL OVER FINANCIAL REPORTING.COMMERCIAL VEHICLE GROUP INC - FORMER EMPLOYEE MADE 'INTENTIONAL MISREPRESENTATIONS" DURING THE INVESTIGATION.COMMERCIAL VEHICLE GROUP INC - AS A RESULT OF INVESTIGATION, TERMINATED THE FORMER EMPLOYEE & HAS TAKEN ADDITIONAL PERSONNEL ACTIONS.  Full Article

Commercial Vehicle Group Reports Q4 Loss Per Share $0.24
Tuesday, 17 Mar 2020 

March 16 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2019 RESULTS.Q4 LOSS PER SHARE $0.24.Q4 REVENUE FELL 15.3 PERCENT TO $189.5 MILLION.COMMERCIAL VEHICLE GROUP - "EXPERIENCED UNPLANNED DOWNTIME DURING Q1 IN OUR CHINA OPERATION DUE TO COVID-19 VIRUS".COMMERCIAL VEHICLE GROUP - CURRENTLY OPERATING AT APPROXIMATELY 70% OF EXPECTED LEVELS IN CHINA.ESTIMATES THAT 2020 NORTH AMERICAN CLASS 8 TRUCK PRODUCTION MAY DECLINE BY 35% TO 42%.SEES 2020 NORTH AMERICAN CLASS 5-7 PRODUCTION MAY DECLINE BY 15% TO 20%.COMMERCIAL VEHICLE GROUP - SEES RESTRUCTURING COSTS OF $3 MILLION IN Q4 2019.COMMERCIAL VEHICLE GROUP - SEES RESTRUCTURING COSTS OF $3 MILLION TO $5 MILLION THROUGHOUT 2020.  Full Article

Commercial Vehicle Group Reports Third Quarter Results
Thursday, 7 Nov 2019 

Nov 6 (Reuters) - Commercial Vehicle Group Inc ::COMMERCIAL VEHICLE GROUP ANNOUNCES THIRD QUARTER 2019 RESULTS.Q3 EARNINGS PER SHARE $0.28.Q3 REVENUE ROSE 0.2 PERCENT TO $225.4 MILLION.ESTIMATES THAT 2019 NORTH AMERICAN CLASS 8 TRUCK PRODUCTION WILL APPROXIMATE 345,000 UNITS.SEES 2019 NORTH AMERICAN CLASS 5-7 PRODUCTION WILL APPROXIMATE 273,000 UNITS.SEES REVENUES ARE LIKELY TO DECLINE IN Q4 COMPARED TO PRIOR YEAR PERIOD.  Full Article