Automobile methods producer Business Automobile Group (NASDAQ:CVGI) can be reporting outcomes this Monday afternoon. Right here’s what traders ought to know.
Business Automobile Group beat analysts’ income expectations by 6.4% final quarter, reporting revenues of $172 million, down 11.2% 12 months on 12 months. It was a robust quarter for the corporate, with a powerful beat of analysts’ income estimates and full-year EBITDA steerage exceeding analysts’ expectations.
Is Business Automobile Group a purchase or promote going into earnings? Learn our full evaluation right here, it’s free for lively Edge members.
This quarter, analysts expect Business Automobile Group’s income to say no 8.4% 12 months on 12 months to $157.4 million, bettering from the 15.3% lower it recorded in the identical quarter final 12 months. Adjusted loss is predicted to come back in at -$0.12 per share.
Analysts masking the corporate have typically reconfirmed their estimates during the last 30 days, suggesting they anticipate the enterprise to remain the course heading into earnings. Business Automobile Group has a historical past of exceeding Wall Road’s expectations, beating income estimates each single time since going public by 5.1% on common.
Business Automobile Group’s friends within the heavy transportation gear section, some have already reported their Q3 outcomes, giving us a touch as to what we are able to count on. Cummins’s revenues decreased 1.6% 12 months on 12 months, beating analysts’ expectations by 5%, and Douglas Dynamics reported revenues up 25.3%, falling wanting estimates by 0.7%. Cummins traded up 7.8% following the outcomes whereas Douglas Dynamics’s inventory value was unchanged.
Learn our full evaluation of Cummins’s outcomes right here and Douglas Dynamics’s outcomes right here.
There was optimistic sentiment amongst traders within the heavy transportation gear section, with share costs up 2.2% on common during the last month. Business Automobile Group is down 16.3% throughout the identical time and is heading into earnings with a median analyst value goal of $4 (in comparison with the present share value of $1.34).
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