Commercial Vehicle Group Reports Loss

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Commercial Vehicle Group reported a third-quarter loss, compared with a profit a year ago, the truck and auto components maker said.

Its net loss was $7.3 million, or 25 cents per share, compared with net income of $30.5 million, or $1.07 per share, a year ago.

Revenue fell 8.2% to $187.9 million, the New Albany, Ohio-based manufacturer said. Its operating loss was $3.4 million, compared with operating income of $8.9 million for the prior-year quarter.

“Certain end markets experienced a difficult quarter that negatively impacted our results,” CEO Richard Lavin said in a statement.

CVG estimated that Class 8 truck builds in North America will be about 252,000 this year and that the global construction-equipment business will remain flat for the rest of the year, Lavin said.

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