Commercial Vehicle Group Expects Full Year 2024 Net Sales Of $915M-$1.015B (Est $983.223M), Adjusted EBITDA Of $60M-$73M
Portfolio Pulse from Benzinga Newsdesk
Commercial Vehicle Group (CVGI) projects its full-year 2024 net sales to be between $915M-$1.015B, with an adjusted EBITDA of $60M-$73M, despite industry forecasts predicting a lower Class 8 truck build in 2024. The company attributes this resilience to the success of its diversification strategy, especially in growing its Electrical Systems business.
March 04, 2024 | 10:09 pm
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Commercial Vehicle Group expects its 2024 net sales to range between $915M and $1.015B with an adjusted EBITDA of $60M to $73M, showcasing resilience despite a forecasted industry downturn.
CVGI's positive financial outlook for 2024, despite a predicted industry downturn, indicates strong company performance and successful diversification, particularly in its Electrical Systems business. This strategic focus is likely to foster investor confidence and potentially lead to a short-term increase in stock price.
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