Commercial Vehicle Group Q1 Earnings Call Highlights
Key takeaways
- Global Electrical Systems led growth (revenue +13.9%) and is expected to drive >10% sales growth in 2026 as Zoox and other new wins ramp, while Trim Systems fell 13.9% on weak Class 8 demand;
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Commercial Vehicle Group Q1 Earnings Call Highlights Market Beat Wed, May 6, 2026 at 10:54 PM GMT+7 9 min read CVGI Commercial Vehicle Group logo Key Points First-quarter revenue was $171.5 million (up from $169.8M) with adjusted gross margin improving to 12.2% (+140 bps), though adjusted EBITDA fell to $4.8M and adjusted net loss was $3.4M; GAAP net income of $0.9M included a $14M gain from the Vonore sale-leaseback.
The Vonore sale-leaseback generated $16M gross ($14.6M net) used to prepay term debt, helping reduce net leverage to 3.8x from 4.1x and supporting positive free cash flow that management plans to prioritize toward further deleveraging.
Global Electrical Systems led growth (revenue +13.9%) and is expected to drive >10% sales growth in 2026 as Zoox and other new wins ramp, while Trim Systems fell 13.9% on weak Class 8 demand; management reaffirmed 2026 guidance of $660–700M in sales and $24–30M adjusted EBITDA.