Commercial Vehicle Group Q3 net fell by 55% y/y to USD1.1 million
Revenue drops 24% y/y
Commercial Vehicle Group (CVG) has recorded a 55.1% year-over-year (y/y) decline in net income to USD1.1 million in the third quarter to USD1.1 million as revenue dropped 24.2% y/y to USD153.6 million, the company said in a press release. Lower revenue also impacted the company’s operating income, which fell by more than half to USD4.5 million. At the end of the quarter, the company had liquidity of USD175 million, USD137 million cash and USD38 million as asset-based revolving credit.
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