Company: CVGI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051174
Chunk: 42

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 42
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.5 million, or 7.1%, and a decrease in labor and overhead expenses of $1.1 million, or 5.0%.

As a percentage of revenues, gross profit margin was 10.8% for the three months ended September 30, 2025 compared to 6.4% for the three months ended September 30, 2024. The increase in gross profit margin was primarily due to mix and improved operational efficiency. The three months ended September 30, 2025 results include charges of  $0.4 million associated with restructuring programs, compared to $1.3 million for the three months ended September 30, 2024.

Selling, General and Administrative Expenses.  SG&A expenses were relatively flat for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

29

Trim Systems and Components Segment Results

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

The table below sets forth certain Trim Systems and Components Segment operating data for the three months ended September 30 (dollars are in thousands):

 20252024$ Change% ChangeRevenues$34,291 $48,415 $(14,124)(29.2)%Gross profit2,206 5,709 (3,503)(61.4)Selling, general & administrative expenses3,136 262 2,874 1,096.9Operating income (loss)(930)5,447 (6,377)NM1

1.Not meaningful

Revenues. The decrease in the Trim Systems and Components Segment revenues of $14.1 million was primarily driven by lower sales volume as a result of softening customer demand in North America.

Gross Profit. The decrease in gross profit of $3.5 million was primarily attributable to lower sales volume. The cost of revenues decreased in line with the sales decrease of 29.2%, driven by a decrease in labor and overhead expenses of $4.1 million, or 22.9%; and a decrease in 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