CVG Reports First Quarter 2026 Results

About this update from Commercial Vehicle Group, Inc.

First quarter sales of $171 million, EPS of $0.03, Adjusted EBITDA of $4.8 millionReturns to revenue growth at the consolidated levelAccelerates leverage reduction through sale-leaseback transactionReaffirms full-year guidance NEW ALBANY, Ohio, May 05, 2026 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI), a diversified industrial products and services company, today announced financial results for its first quarter ended March 31, 2026. First Quarter 2026 Highlights (Results from Continuing Operations; compared with prior year, where comparisons are noted) James Ray, President and Chief Executive Officer, said, “During the quarter, we executed in-line with our operational priorities while navigating a demand environment that, while still below historical levels, is showing signs of stabilization in key end markets. We were encouraged by our ability to deliver sequential margin improvement resulting from operational efficiency and footprint rationalization efforts we have implemented across the organization.” Mr. Ray continued, “Importantly, we are beginning to see early indications of improved customer activity in select markets, with our Global Seating segment returning to top line growth, and our Global Electrical Systems segment continuing to benefit from new business ramps and a more diversified end market mix driving consistent growth. As evidence of the ramp success, we are officially in production on the Zoox robotaxi program. With Class 8 truck production projected to increase in 2026, our focus remains on disciplined execution, cost management, and positioning CVG to capitalize on improving demand trends as they materialize.” Angie O’Leary, Interim Chief Financial Officer, added, “Our results this quarter reflect the benefits of sustained cost discipline and working capital execution. We further strengthened our balance sheet through the sale-leaseback transaction of our Vonore facility, with the proceeds used to pay down debt. As end market conditions show early signs of improvement, we remain focused on improving margins, driving free cash flow, and increasing financial flexibility to support the expected future growth of the business.” First Quarter Financial Results from Continuing Operations(amounts in millions except per share data and percentages) Consolidated Results from Continuing Operations First Quarter 2026 Results On March 31, 2026, the Comp...

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