C

Commercial Vehicle Group Inc
NASDAQ:CVGI

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Commercial Vehicle Group Inc
NASDAQ:CVGI
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Price: 3.19 USD -9.12% Market Closed
Market Cap: $117.2m

Commercial Vehicle Group Inc
Investor Relations

Commercial Vehicle Group, Inc. engages in the manufacture, supply, and sale of cab related products and systems. The company is headquartered in New Albany, Ohio and currently employs 7,300 full-time employees. The company went IPO on 2004-08-05. The firm operates through four segments, Vehicle Solutions, Warehouse Automation, Electrical Systems and Aftermarket & Accessories. The Vehicle Solutions segment manufactures commercial vehicle seats, plastic components (trim) and cab structures. The Warehouse Automation segment manufactures warehouse automation subsystems, including control panels, electro-mechanical assemblies, cable assemblies, and power and communication solutions. The Electrical Systems segment manufactures cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies and design and engineering for these applications. The Aftermarket & Accessories segment manufactures seats and components; commercial vehicle accessories, including wipers, mirrors and sensors, and office seats.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 11, 2026
AI Summary
Q4 2025

Profitability: Adjusted gross margin improved to 10.3% (up 190 bps YoY) and adjusted EBITDA rose to $2.3 million in Q4, reflecting operational efficiency gains despite softer demand.

Revenue: Q4 revenue was $154.8 million, down from $163.3 million a year ago, driven by weaker North American demand in Seating and Trim/Components.

Free cash flow: Full-year free cash flow improved (management cited $33.7 million), enabling net debt reduction of about $35.8 million and net leverage down to 4.1x.

Segments: Global Electrical Systems accelerated (Q4 revenue $49.7 million, +12.7% YoY) on new program ramps including Zoox; Trim/Components was the weakest (Q4 $34.4 million, -22.5%).

Guidance: 2026 outlook calls for revenue of $660M–$700M, adjusted EBITDA $24M–$30M, positive free cash flow, and a target to reduce net leverage toward 2.0x.

Zoox win: CVG will supply low-voltage harnesses for Zoox robotaxis; management expects volumes to ramp in H2 2026 and contribute to >10% segment growth in Electrical Systems.

Cash focus: Management prioritized working capital improvement and lower capex in 2025 and reiterated that free cash flow and debt paydown remain priorities for 2026.

Key Financials
Revenue (Q4 2025)
$154.8 million
Revenue (Full year 2025)
$649 million
Adjusted gross margin (Q4 2025)
10.3%
Adjusted EBITDA (Q4 2025)
$2.3 million
Adjusted EBITDA (Full year 2025)
$17.8 million
Adjusted EBITDA margin (Full year 2025)
2.7%
Net loss (Q4 2025)
$6.4 million (loss)
Net loss per share (Q4 2025)
$0.19 (loss) per diluted share
Adjusted net loss (Q4 2025)
$6.0 million (loss)
Interest expense (Q4 2025)
$4.2 million
Free cash flow (Full year 2025)
$33.7 million (management) / $33.4 million (finance slide)
Net debt / net leverage (end of 2025)
4.1x
Global Seating revenue (Q4 2025)
$70.7 million
Global Electrical Systems revenue (Q4 2025)
$49.7 million
Trim Systems & Components revenue (Q4 2025)
$34.4 million
2026 net sales guidance
$660 million to $700 million
2026 adjusted EBITDA guidance
$24 million to $30 million
Zoox program (CVG-supplied plan)
Plan to support 10,000 vehicles/year at target scale; initial years ~5,000 annualized then ramp to 10,000 in later years
Earnings Call Recording
Other Earnings Calls

Management

Mr. James R. Ray Jr.
President, CEO & Non-Independent Director
No Bio Available
Mr. Chung Kin Cheung
Executive VP & Chief Financial Officer
No Bio Available
Mr. Aneezal H. Mohamed
Chief Legal Officer, Compliance Officer & Secretary
No Bio Available
Ms. Kristin S. Mathers
Chief Human Resources Officer
No Bio Available
Mr. Richard Tajer
Senior VP & Chief Commercial Officer
No Bio Available
Mr. Jeffrey M. Tritapoe
Senior Vice President of Operations
No Bio Available
Ms. Angela M. O'Leary
VP, Corporate Controller & Chief Accounting Officer
No Bio Available
Jason Gray
Marketing Manager
No Bio Available
Mr. Daniel Mehringer
Senior VP of Strategic Planning & Business Development
No Bio Available
Mr. Wern-Lirn Wang
Senior VP & MD of CVG Asia Pacific
No Bio Available

Contacts

Address
OHIO
New Albany
7800 Walton Pkwy
Contacts
+16142895360.0
cvgrp.com
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