Company: CVGI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022764
Chunk: 0

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
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Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1 – FINANCIAL STATEMENTS

COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 Three Months Ended March 31, 20252024(Unaudited)(In thousands, except per share amounts)Revenues$169,795 $194,626 Cost of revenues152,002 171,462 Gross profit17,793 23,164 Selling, general and administrative expenses16,385 18,655 Operating  income1,408 4,509 Other (income) expense(72)212 Interest expense2,503 2,186  Income (loss) before provision for income taxes(1,023)2,111 Provision for income taxes2,116 665 Net income (loss) from continuing operations$(3,139)$1,446 Net income (loss) from discontinued operations - Note 18(1,173)1,493 Net income (loss)(4,312)2,939 Earnings (loss) per Common Share:Basic earnings (loss) per shareIncome (loss) from continuing operations$(0.09)$0.05 Income (loss) from discontinued operations$(0.03)$0.04 Diluted earnings (loss) per shareIncome (loss) from continuing operations$(0.09)$0.05 Income (loss) from discontinued operations$(0.03)$0.04 Weighted average shares outstanding:Basic33,693 33,325 Diluted33,693 33,403 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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Table of Contents

COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 Three Months Ended March 31, 20252024 (Unaudited)(In thousands)Net income (loss)$(4,312)$2,939 Other comprehensive income (loss):Foreign currency exchange translation adjustments2,595 (2,559)Minimum pension liability, net of tax(50)(467)Derivative instruments, net of tax2,061 2,032 Other comprehensive income (loss)4,606 (994)Comprehensive income$294