Commercial Vehicle Group, Inc. · NASDAQ:CVGI

Commercial Vehicle — Q2 2026 Earnings Presentation

21 slides from Commercial Vehicle's earnings presentation, Aug 4, 2026

  1. Slide 1: Q2-2026 Earnings Presentation

    Q2-2026 Earnings Presentation James Ray – President & Chief Executive Officer Angie O'Leary – Interim Chief Financial Officer August 4, 2026

  2. Slide 2: Forward Looking Statements and Non-GAAP Financial Measures

    Forward Looking Statements and Non-GAAP Financial Measures These slides contain forward-looking statements that are subject to risks and uncertainties. These statements often include words such as “believe”, “anticipate”, “plan”, “expect”, “intend”, “will”, “should”, “could”, “would”, “project”, “co

  3. Slide 3: Q2 2026 Overview

    Q2 2026 Overview Q2 HIGHLIGHTS Q2 FINANCIAL OVERVIEW REVENUE GROWTH IMPROVED GROSS MARGINS 13.5% INCREASE YEAR-OVER-YEAR 12.9% ADJ. GROSS MARGIN • Growth driven by all three • Up 90bps year-over-year business segments from Q2’25 and up 70bps REVENUE ADJUSTED EBITDA sequentially from Q1’26 $195.2 $5.

  4. Slide 4: Zoox Momentum Building

    Zoox Momentum Building • Recent announcements by Zoox highlight the continued evolution of the robotaxi program • Program shifting from testing and pilot deployments toward commercial fleet manufacturing ✓ Introduction of a production-intent vehicle ✓ Preparations for large-scale manufacturing at it

  5. Slide 5: Second Quarter 2026 Results

    Second Quarter 2026 Results CONSOLIDATED RESULTS (Continuing Operations) Year-Over-Year Performance Commentary Three Months Six Months GAAP Measures Ended Jun 30 Ended Jun 30 • Revenue up 13.5% in Q2 due to increased customer ($ in millions except for share demand across all three business segments

  6. Slide 6: Gross Margin Improvement

    Gross Margin Improvement Year-Over-Year Improvement Sequential Improvement Q2 Q2 Adjusted Gross Margin (%) Adjusted Gross Margin (%) +90bp +70bp +190bp 12.9% 12.9% 12.0% 12.2% 10.3% Q2'25 Q2'26 Q4'25 Q1'26 Q2'26 Key Drivers of Margin Improvement • Structural improvement in operations • Improvements

  7. Slide 7: Equity ATM Program Provides Accretive Deleveraging

    Equity ATM Program Provides Accretive Deleveraging • CVG launched a $25 million equity ATM issuance Net Leverage (Net Debt/Adj. EBITDA) program in June 2026 ✓ Generated $11.6 million in net proceeds through the end of Q2’26 ✓ Proceeds used to pay down term loan debt 4.1 x ✓ Further reduces run-rate

  8. Slide 8: Global Seating

    Global Seating Sales and Adjusted Operating Income Year-Over-Year Performance Commentary Q2 First Half Revenue ($mm) • Q2 Revenue grew 7% driven by higher international sales volume +5% +7% • Q2 adjusted OI increased $0.9 million primarily attributable to higher gross 147.9 154.5 margins on increase

  9. Slide 9: Global Electrical Systems

    Global Electrical Systems Sales and Adjusted Operating Income Year-Over-Year Performance Commentary Q2 First Half Revenue ($mm) • Q2 revenue up 16% due primarily to new business wins +15% +16% ✓ Driven by ramp of previously awarded program wins in North 119.5 62.0 104.0 America (including Zoox) and

  10. Slide 10: Trim Systems and Components

    Trim Systems and Components Sales and Adjusted Operating Income Year-Over-Year Performance Commentary Q2 First Half Revenue ($mm) • Q2 revenue increased 21% primarily as a result of increased customer +3% demand in North America +21% 92.7 ✓ Driven primarily by improved product mix 53.2 89.8 43.9 • Q

  11. Slide 11: Key CVG Markets Update

    Key CVG Markets Update NA Class 8 Heavy Truck Build Outlook CVG Revenue by End Market* CVG Revenue by Geography* ACT Research is forecasting an improved 2026 followed by continued growth in 2027 and 2028 Asia 340 332 339 Pacific 14% -2% 301 Heavy 274 +13% Truck 30 - 35% 251 +9% Bus/Auto/Ag/Other -24

  12. Slide 12: Updated Fiscal 2026 Outlook

    Updated Fiscal 2026 Outlook FY26 CVG Outlook ($M) Metric 2025 Results Prior 2026 Outlook Updated 2026 Outlook Revenues $649.0 $660 - $700 $725 - $755 Adjusted EBITDA $17.8 $24 - $30 $26 - $31 Free Cash Flow $33.7 Positive Positive • ACT Class 8 truck build forecast of 274k (up ~9% y/y) ✓ Class 8 exp

  13. Slide 13: Appendix

    Appendix Q2 2026 Earnings Presentation - 13

  14. Slide 14: Non-GAAP Financial Measures

    Non-GAAP Financial Measures This earnings presentation contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). In general, the non-GAAP measures exclude items that (i) management believes reflect the Company’s multi-year corporat

  15. Slide 15: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures (in millions) Q2 2026 Q1 2026 Q4 2025 Q2 2025 Gross Profit 24.7 19.8 15.0 19.5 Restructuring 0.5 1.2 0.9 1.1 Adjusted Gross Profit 25.2 21.0 15.9 20.6 % of Revenues 12.9% 12.2% 10.3% 12.0% Note: totals may not match due to rounding Q2 2026 Earnin

  16. Slide 16: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures (in millions) Q2 2026 Q2 2025 YTD 2026 YTD 2025 Operating Income/(Loss) 1.6 0.8 16.3 2.2 Restructuring 1.0 1.1 2.2 1.8 Gain on sale of fixed assets - - (14.0) - Adjusted Operating Income 2.6 1.9 4.5 4.0 % of Revenues 1.3% 1.1% 1.2% 1.2% Net Incom

  17. Slide 17: Reconciliation of GAAP to Non-GAAP Financial Measures – Diluted EPS

    Reconciliation of GAAP to Non-GAAP Financial Measures – Diluted EPS (in millions except for share information) Q2 2026 Q2 2025 YTD 2026 YTD 2025 Net income/(Loss) from continuing operations (8.7) (4.1) (7.8) (7.2) Operating income (loss) adjustments 1.0 1.1 (11.7) 1.8 Loss on early extinguishment of

  18. Slide 18: Segment GAAP to Non-GAAP QTD

    Segment GAAP to Non-GAAP QTD For the Three Months Ended June 30, 2026 (in millions) Global Global Trim Systems Seating Electrical Systems and Components Corporate Total Operating Income/(Loss) 3.0 1.7 2.2 (5.3) 1.6 Restructuring 1.0 - - - 1.0 Adjusted Operating Income/(Loss) 4.0 1.7 2.2 (5.3) 2.6 %

  19. Slide 19: Segment GAAP to Non-GAAP YTD

    Segment GAAP to Non-GAAP YTD For the Six Months Ended June 30, 2026 (in millions) Global Global Trim Systems Seating Electrical Systems and Components Corporate Total Operating Income/(Loss) 19.8 1.7 2.1 (7.3) 16.2 Restructuring 1.6 0.5 0.2 - 2.2 Gain on sale of fixed assets (13.7) - - (0.2) (14.0)

  20. Slide 20: Reconciliation of GAAP to Non-GAAP Cash Flow Information

    Reconciliation of GAAP to Non-GAAP Cash Flow Information (in millions) Q2 2026 Q2 2025 YTD 2026 YTD 2025 CONTINUING OPERATIONS Cash Flow from Operations $ 1.7 $ 18.7 $ 0.1 $ 33.7 Capital Expenditures (3.1) (1.5) (5.7) (5.3) Proceeds From Sale of Property, Plant and Equipment 0.0 - 15.9 - Free Cash F

  21. Slide 21: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures (in millions) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net Income/(Loss) (3.1) (4.1) (6.8) (6.4) 0.9 (8.7) Interest Expense 2.5 2.3 4.1 4.2 4.1 2.9 Provision (benefit) for income taxes 2.1 1.7 0.7 0.2 1.9 2.0 Depreciation Expense 3.4 3.5 3

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