Commercial Vehicle Group Q1 EPS Of 3 Cents, Revenue Up 1% To $171.5M
Commercial Vehicle Group reported Q1 net income of $902k (3¢ EPS), beating the projected 14¢ loss on $171.5 million revenue, up 1% year-over-year. The company realized a $14 million sale-leaseback gain, cut debt by $12.8 million and affirmed full-year revenue guidance of $660 million to $700 million.
1. First Quarter Results
Commercial Vehicle Group posted net income of $902,000, or $0.03 per diluted share, reversing a prior-year loss and surpassing analyst forecasts of a $0.14 loss. Revenue rose 1.0% to $171.5 million, topping expectations of $160 million and driven by growth in key segments.
2. Operational Performance
Gross margin expanded by 180 basis points versus Q4 2025 and 100 basis points year-over-year, while adjusted EBITDA reached $4.8 million, down 17.2% with a 2.8% margin. Global Electrical Systems revenue climbed 14%, Global Seating grew 1.5%, and production began on the Zoox robotaxi program.
3. Sale-Leaseback and Balance Sheet
The company completed a sale-leaseback of its Vonore, Tennessee facility, recognizing a $14 million gain and reducing debt by $12.8 million since year-end. As of March 31, CVG held $28.7 million in cash and $99.7 million of unused credit capacity, for total liquidity of $128.4 million.
4. Outlook and Guidance
CVG reaffirmed its full-year revenue forecast of $660 million to $700 million, citing anticipated Class 8 truck production increases. Management remains focused on disciplined execution, cost management and positioning the business to capitalize on improving market demand.