Company: CVGI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051174
Chunk: 31

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 31
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 capital resources. During the quarter ended March 31, 2025, the Company revised its method for allocating corporate expenses to segment operating income to better align with how the segments utilize corporate support activities. This change provides the CODM meaningful segment profitability information to support operating decisions and the allocation of resources. The prior period amounts have been revised to conform to the Company’s current period presentation.Certain of our facilities manufacture and sell products through multiple product lines. The products produced by each of our segments are more specifically described below.The Global Seating segment designs, manufactures and sells the following products:•Commercial vehicle seats for the global commercial vehicle markets including heavy duty trucks, medium duty trucks, last mile delivery trucks and vans, construction and agriculture equipment in North America, Europe and Asia-Pacific. This segment includes a portion of the company’s activities in the electric vehicle market.•Seats and components sold into the commercial vehicle channels that provide repair and refurbishing. These channels include Original Equipment Service ("OES") centers and retail distributors, and are spread across North America, Europe and Asia-Pacific.•Office seats primarily sold into the commercial and home office furniture distribution channels in Europe and Asia-Pacific.The Global Electrical Systems segment designs, manufactures and sells the following products:•Cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies and design and engineering for these applications.•The end markets for these products are construction, agricultural, industrial, automotive (both internal combustion and electric vehicles), truck, mining, rail, marine, power generation and the military/defense industries in North America, Europe and Asia-Pacific. The Trim Systems and Components segment designs, manufactures and sells the following products:•Plastic components ("Trim") primarily for the North America commercial vehicle market, MD/HD truck market and power sports markets.•Commercial vehicle accessories including wipers, mirrors, and sensors. These products are sold both as Original Equipment and as repair products.The following tables present financial information for the Company's reportable segments for the periods indicated: Three Months Ended September 30, 2025Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalRevenues$68,707 $49,491 $34,291 $152,489 Cost of revenues60,191 44,170 32,085 136,446 Gross profit8,516 5,321 2,206 16,043 Selling, general & administrative expenses 7,108 4,483 3,136 14,727 Operating income