--- title: "Commercial Vehicle | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 171.5 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285266240.md" datetime: "2026-05-05T20:52:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285266240.md) - [en](https://longbridge.com/en/news/285266240.md) - [zh-HK](https://longbridge.com/zh-HK/news/285266240.md) --- # Commercial Vehicle | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 171.5 M Revenue: As of FY2026 Q1, the actual value is USD 171.5 M, beating the estimate of USD 160.01 M. EPS: As of FY2026 Q1, the actual value is USD 0.03, beating the estimate of USD -0.145. EBIT: As of FY2026 Q1, the actual value is USD 18.81 M. #### First Quarter 2026 Financial Highlights (Results from Continuing Operations) Commercial Vehicle Group, Inc. reported revenues of $171.5 million in Q1 2026, a 1.0% increase from $169.8 million in Q1 2025. This growth was primarily driven by a 14% increase in the Global Electrical Systems segment . #### Operational Metrics - **Gross Profit:** Gross profit increased to $19.8 million in Q1 2026 from $17.8 million in Q1 2025, an 11.2% rise. Gross margin expanded to 11.5% from 10.5% in the prior year period . - **Adjusted Gross Profit:** Adjusted gross profit was $21.0 million in Q1 2026, up 14.8% from $18.3 million in Q1 2025. Adjusted gross margin was 12.2% compared to 10.8% . - **Operating Income:** Operating income significantly increased to $14.7 million in Q1 2026 from $1.4 million in Q1 2025, a 950.0% increase, primarily due to a $14.0 million gain on sale of assets. Operating margin was 8.6% in Q1 2026, up from 0.8% in Q1 2025 . - **Adjusted Operating Income:** Adjusted operating income was $2.0 million in Q1 2026, relatively flat compared to $2.1 million in Q1 2025, a decrease of -4.8%. The adjusted operating margin remained at 1.2% for both periods. The decrease in adjusted operating income was mainly due to higher Selling, General, and Administrative (SG&A) expenses, largely offset by improved gross margin performance . - **Net Income (Loss) from Continuing Operations:** Commercial Vehicle Group, Inc. reported a net income from continuing operations of $0.9 million, or $0.03 per diluted share, in Q1 2026, compared to a net loss of - $3.1 million, or - $0.09 per diluted share, in Q1 2025 . - **Adjusted Net Loss from Continuing Operations:** Adjusted net loss from continuing operations was - $3.4 million, or - $0.10 per diluted share, in Q1 2026, compared to - $2.6 million, or - $0.08 per diluted share, in Q1 2025, representing a 30.8% increase in loss . - **Adjusted EBITDA:** Adjusted EBITDA decreased to $4.8 million in Q1 2026 from $5.8 million in Q1 2025, a -17.2% decline. The adjusted EBITDA margin was 2.8%, down from 3.4% . - **Interest Expense:** Interest expense was $4.1 million in Q1 2026, up from $2.5 million in Q1 2025, due to higher interest rates . - **Selling, General and Administrative Expenses:** These expenses were $19,059 thousand in Q1 2026, compared to $16,385 thousand in Q1 2025 . - **Gain on Sale of Assets:** A gain on sale of assets of $13,957 thousand was recognized in Q1 2026, with none in Q1 2025 . - **Warrant Expense:** Warrant expense was $4,978 thousand in Q1 2026, with none in Q1 2025 . - **Loss on Extinguishment of Debt:** A loss on extinguishment of debt of $1,958 thousand was recorded in Q1 2026, with none in Q1 2025 . - **Depreciation Expense:** Depreciation expense was $3,578 thousand in Q1 2026, compared to $3,438 thousand in Q1 2025 . - **Amortization Expense:** Amortization expense was $137 thousand in Q1 2026, compared to $141 thousand in Q1 2025 . #### Cash Flow - **Cash Flows from Operating Activities (Continuing Operations):** Cash flows from operating activities for continuing operations were - $1,561 thousand in Q1 2026, a decrease from $15,015 thousand in Q1 2025 . - **Free Cash Flow from Continuing Operations:** Free cash flow from continuing operations was $11,678 thousand in Q1 2026, up from $11,209 thousand in Q1 2025 . - **Free Cash Flow (Total Company):** Total free cash flow was $11,678 thousand in Q1 2026, compared to $11,366 thousand in Q1 2025 . - **Purchases of Property, Plant and Equipment:** Purchases were - $2,653 thousand in Q1 2026, compared to - $3,806 thousand in Q1 2025 . - **Proceeds from Disposal/Sale of Property, Plant and Equipment:** Proceeds were $15,892 thousand in Q1 2026, with none in Q1 2025 . #### Segment Revenue and Operating Income (Q1 2026 vs. Q1 2025) - **Global Seating Segment:** Revenues increased by 1.5% to $74.5 million from $73.4 million, primarily due to higher international sales volume, partially offset by decreased customer demand in North America. Operating income was $16.8 million, a significant increase from $2.7 million, driven by a gain on sale of assets and improved gross margin performance. Adjusted operating income was $3.6 million, up from $2.7 million . - **Global Electrical Systems Segment:** Revenues increased by 13.9% to $57.4 million from $50.5 million, mainly due to ramping new business wins. Operating results were breakeven, compared to an operating loss of - $0.3 million. Adjusted operating income was $0.5 million, up from $0.2 million . - **Trim Systems and Components Segment:** Revenues decreased by 13.9% to $39.5 million from $45.9 million, primarily due to softening demand and lower sales volume in North America. Operating loss was - $0.1 million, compared to an operating income of $1.5 million, primarily attributable to lower demand. Adjusted operating income was $0.1 million, down from $1.6 million . #### Liquidity As of March 31, 2026, Commercial Vehicle Group, Inc. had $16.1 million of outstanding borrowings on its U.S. revolving credit facility and $2.9 million outstanding borrowings on its China credit facility. The company held $28.7 million of cash and had $99.7 million of availability from credit facilities, resulting in a total liquidity of $128.4 million . #### Outlook Commercial Vehicle Group, Inc. reaffirmed its full-year 2026 guidance, projecting net sales between $660 million and $700 million and adjusted EBITDA between $24 million and $30 million. The company anticipates positive free cash flow for the full year 2026. This outlook is based on current market conditions, including an expected 9% increase in North American Class 8 truck production to 274,000 units and low-single digit growth in the construction end market . ### Related Stocks - [CVGI.US](https://longbridge.com/en/quote/CVGI.US.md) ## Related News & Research - [Commercial Vehicle Group Completes Facility Sale-Leaseback, Reduces Debt](https://longbridge.com/en/news/281526514.md) - [Noble Financial Remains a Buy on Commercial Vehicle Group (CVGI)](https://longbridge.com/en/news/285420433.md) - [Commercial Vehicle Group beats Q1 revenue estimates on global electrical systems growth, reaffirms FY guidance](https://longbridge.com/en/news/285265061.md) - [What To Expect From Commercial Vehicle Group’s (CVGI) Q1 Earnings](https://longbridge.com/en/news/285023413.md) - [AI-Proof Stocks? This New ETF Focuses on the HALO Trade](https://longbridge.com/en/news/286937385.md)