Company: CVGI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051174
Chunk: 113

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 113
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 raw material and purchased component costs of $6.6 million, or 26.4%. 

As a percentage of revenues, gross profit margin was 6.4% for the three months ended September 30, 2025 compared to 11.8% for the three months ended September 30, 2024. The decrease in gross profit margin was primarily due to lower sales volume. The three months ended September 30, 2025 results include charges of  $0.6 million associated with restructuring programs, compared to $1.5 million for the three months ended September 30, 2024.

Selling, General and Administrative Expenses.  SG&A expenses increased $2.9 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily as a result of the gain on the sale of a building of $3.5 million in the prior year period.

Consolidated Results of Operations

Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024 

The table below sets forth certain consolidated operating data for the nine months ended September 30, (dollars are in thousands):

 20252024$ Change% ChangeRevenues$494,240 $560,063 $(65,823)(11.8)%Gross profit53,365 60,044 (6,679)(11.1)Selling, general and administrative expenses52,222 55,531 (3,309)(6.0)Other (income) expense1,358 (615)1,973 NM1Interest expense8,862 6,974 1,888 27.1Loss on extinguishment of debt460 — 460 NM1Provision (benefit) for income taxes4,527 (1,110)5,637 NM1        Net income (loss) from continuing operations(14,064)(736)(13,328)1,810.9

1.Not meaningful

Revenues. The decrease in consolidated revenues resulted from:

•a $61.0 million, or 13.2%, decrease in OEM and other revenues; and

•a $4.8 million, or 4.9%, decrease in aftermarket and OES sales.

The decrease in revenues of $65.8 million was primarily driven by a softening in customer demand  across all segments.

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