Company: CVGI
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001290900-25-000010
Chunk: 97

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 97
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.7 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024. 

Trim Systems and Components Segment Results 

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

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

 20252024$ Change% ChangeRevenues$43,914 $57,622 $(13,708)(23.8)%Gross profit3,688 5,950 (2,262)(38.0)Selling, general & administrative expenses3,583 3,623 (40)(1.1)Operating income105 2,327 (2,222)(95.5)

Revenues. The decrease in Trim Systems and Components Segment revenues in 2025 of $13.7 million was primarily driven by decreased customer demand.

Gross Profit. The decrease in gross profit of $2.3 million was primarily attributable to lower sales volumes. The decrease in cost of revenues was driven by a decrease in raw material and purchased component costs of $7.7 million, or 23.5%, and a decrease in labor and overhead expenses of $3.8 million, or 19.9%.

As a percentage of revenues, gross profit margin was 8.4% for the three months ended June 30, 2025 compared to 10.3% for the three months ended June 30, 2024. The decrease in gross profit margin was primarily due to lower sales volumes. 

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

Consolidated Results of Operations

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 

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

 20252024$ Change% ChangeRevenues$341,751 $388,291 $(46,540)(12.0)%Gross profit37,322 43,623 (6,301)(14.4)Selling, general and administrative expenses35,117 38,050 (2,