Earnings Releases·Nov 2, 2026, 4:41 PM ET

CVG — Third Quarter 2026 Earnings Summary

**Financial Performance:** Q3 2026 revenues rose 36.5% year-over-year to $208.1 million, while gross margin expanded 300 basis points to 13.5%; adjusted net income improved to $1.2 million ($0.03/share) from an adjusted net loss of $4.6 million ($0.14/share) in the prior year period.
**Guidance Updates:** Full-year 2026 revenue outlook was raised to $755–$775 million, whereas the Adjusted EBITDA range was narrowed to $26–$29 million to account for incremental CEO succession expenses.
**Segment Growth:** All three business segments delivered significant revenue growth, with Trim Systems & Components surging 71.9% to $58.9 million and Global Electrical Systems increasing 30.2% to $64.4 million, driven by new program ramps and North American Class 8 production volumes.
**Strategic Leadership Change:** The Board appointed David Ruppel as President and CEO effective November 9, 2026, succeeding James Ray, who will transition to a Senior Advisor role; the succession was not due to operational disagreements.
**Balance Sheet & Outlook:** Total liquidity stood at $123.1 million with net leverage at approximately 2.7 times as of September 30, 2026, and management projects continued earnings growth into 2027 supported by operational improvements and new business execution.