---
title: "CVG Reports Second Quarter 2026 Results | CVGI Stock News"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294736604.md"
description: "CVG reported Q2 2026 revenues of $195.2 million, up 13.5% year-over-year, driven by strong demand across all segments. While gross margins expanded, the company posted a net loss of $8.7 million due to warrant liability revaluation. CVG raised its full-year revenue and Adjusted EBITDA guidance, citing operational efficiency improvements and new business ramp-ups in Trim Systems, Global Seating, and Global Electrical Systems."
datetime: "2026-08-03T12:35:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294736604.md)
  - [en](https://longbridge.com/en/news/294736604.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294736604.md)
generator: "portal-rs"
---

# CVG Reports Second Quarter 2026 Results | CVGI Stock News

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***Second quarter revenues of $195 million, EPS of $(0.25), Adjusted EBITDA of $5.4 million***  
***Strong revenue growth across all three business segments***  
***Raises full-year 2026 guidance***

NEW ALBANY, Ohio, Aug. 03, 2026 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI), a diversified industrial products and services company, today announced financial results for its second quarter ended June 30, 2026.

**Second Quarter** **2026** **Highlights** *(Results from Continuing Operations; compared with prior year, where comparisons are noted)*

-   Revenues of $195.2 million, up 13.5%, primarily driven by increased demand across all three segments.
-   Gross margin expansion of 140 basis points versus Q2 2025 and 120 basis points sequentially versus Q1 2026 primarily from increased revenues and operational efficiency improvements.
-   Operating income of $1.6 million, up $0.8 million, compared to $0.8 million. Adjusted operating income of $2.6 million, compared to $1.9 million.
-   Net loss from continuing operations of $8.7 million, or $(0.25) per diluted share and adjusted net loss of $4.6 million, or $(0.13) per diluted share, compared to net loss from continuing operations of $4.1 million, or $(0.12) per diluted share and adjusted net loss of $2.9 million, or $(0.09) per diluted share. Net loss includes a $3.4 million pre-tax warrant liability revaluation expense.
-   Adjusted EBITDA of $5.4 million, compared to $5.2 million, with an adjusted EBITDA margin of 2.8%, down from 3.0%.
-   Net proceeds of approximately $11.6 million from the at-the-market equity issuance program used to pay down term loan.

James Ray, President and Chief Executive Officer, said, “We are encouraged by the strong revenue growth and gross margin expansion we delivered in the second quarter. All three segments generated year-over-year revenue growth, driven by the continued ramp of new business and increased customer demand. North American Class 8 truck production began to improve late in the quarter. We continued to deliver sequential gross margin expansion, reflecting the improvements from our operational efficiency and footprint rationalization initiatives and position CVG to benefit from increased demand.”

Mr. Ray continued, “Our Trim Systems & Components segment returned to year-over-year growth despite a lower Class 8 build rate compared with the prior-year quarter, driven in part by new business ramping in our wiper systems business. Global Seating continued to benefit from customer demand growth in international markets. Global Electrical Systems benefited from the ramp of new business, including the Zoox robotaxi program and a more diversified end market mix driving consistent growth. As we look to the second half of 2026, we remain focused on disciplined execution, continued margin improvement, and free cash generation. We expect CVG to be positioned to capitalize on improving market conditions."

Angie O’Leary, Interim Chief Financial Officer, added, “During the second quarter, we continued to strengthen our balance sheet and execute our capital allocation priorities. Building on the progress from earlier this year, we further reduced outstanding debt with proceeds from our recently executed at-the-market equity offering program, which we expect to contribute to lower cash interest expense going forward. We also continue to make targeted investments in working capital to support key program launches and the growth opportunities across our businesses. SG&A expense increased from the prior year driven by higher incentive compensation and advisory service fees. We remain focused on driving profitable growth, generating free cash flow, and advancing toward our long-term net leverage objective of approximately two times. Based on our first-half revenue performance, and the momentum we see across all three segments, we are raising our revenue and Adjusted EBITDA guidance ranges for the year.”

**Second Quarter Financial Results from Continuing Operations**  
*(amounts in millions except per share data and percentages)*

**Second Quarter**

**2026**

**2025**

**$ Change**

**% Change**

Revenues

$

195.2

$

172.0

$

23.2

13.5

%

Gross profit

$

24.7

$

19.5

$

5.2

26.7

%

Gross margin

12.7

%

11.3

%

Adjusted gross profit 1

$

25.2

$

20.6

$

4.6

22.3

%

Adjusted gross margin 1

12.9

%

12.0

%

Operating income

$

1.6

$

0.8

$

0.8

100.0

%

Operating margin

0.8

%

0.5

%

Adjusted operating income 1

$

2.6

$

1.9

$

0.7

36.8

%

Adjusted operating margin 1

1.3

%

1.1

%

Net income (loss) from continuing operations

$

(8.7

)

$

(4.1

)

$

(4.6

)

NM2

Adjusted net income (loss) from continuing operations 1

$

(4.6

)

$

(2.9

)

$

(1.7

)

58.6

%

Earnings (loss) per share, diluted

$

(0.25

)

$

(0.12

)

$

(0.13

)

NM2

Adjusted earnings (loss) per share, diluted 1

$

(0.13

)

$

(0.09

)

$

(0.04

)

44.4

%

Adjusted EBITDA 1

$

5.4

$

5.2

$

0.2

3.8

%

Adjusted EBITDA margin 1

2.8

%

3.0

%

1 See Appendix A for GAAP to Non-GAAP reconciliation

2 Not meaningful

**Consolidated Results from Continuing Operations**

**Second Quarter 2026 Results**

-   Second quarter 2026 revenues were $195.2 million, compared to $172.0 million in the prior year period, an increase of 13.5%. The overall increase in revenues was primarily due to increased customer demand in international markets and the ramp of previously awarded new business wins across all three of our segments.
-   Operating income in the second quarter 2026 was $1.6 million, up $0.8 million compared to the prior year period. Second quarter 2026 adjusted operating income was $2.6 million, compared to adjusted operating income of $1.9 million in the prior year period. The increase in adjusted operating income was primarily attributable to higher sales and improved gross margin performance, partially offset by higher SG&A expense that was driven by higher incentive compensation and advisory service fees.
-   Interest associated with debt and other expenses was $2.9 million and $2.3 million for the second quarter 2026 and 2025, respectively, with the increase for the second quarter 2026 due to higher interest rates.
-   Net loss from continuing operations was $8.7 million, or $(0.25) per diluted share, for the second quarter 2026 compared to net loss of $4.1 million, or $(0.12) per diluted share, in the prior year period. Net loss includes a $3.4 million pre-tax warrant liability revaluation expense. Second quarter 2026 adjusted net loss from continuing operations was $4.6 million, or $(0.13) per diluted share, compared to adjusted net loss of $2.9 million, or $(0.09) per diluted share.

On June 30, 2026, the Company had $24.8 million of outstanding borrowings on its U.S. revolving credit facility and $2.9 million outstanding borrowings on its China credit facility, $36.0 million of cash and $91.2 million of availability from the credit facilities (subject to customary borrowing base and other conditions), resulting in total liquidity of $127.2 million.

**Second Quarter 2026 Segment Results**

***Global Seating Segment*** 

-   Revenues were $80.0 million compared to $74.5 million for the prior year period, an increase of 7.5%, due primarily to increased customer demand in international markets.
-   Operating income was $3.0 million, compared to $2.7 million in the prior year period, an increase of $0.3 million, driven by higher sales and improved gross margin performance. Second quarter 2026 adjusted operating income was $4.0 million compared to $3.1 million in the prior year period.

***Global Electrical Systems Segment***

-   Revenues were $62.0 million compared to $53.6 million in the prior year period, an increase of 15.8%, primarily as a result of ramping new business wins.
-   Operating income was $1.7 million compared to operating income of $0.7 million in the prior year period. The increase in operating income was primarily attributable to higher revenues.

***Trim Systems and Components Segment***

-   Revenues were $53.2 million compared to $43.9 million in the prior year period, an increase of 21.1%, primarily due to higher sales volume as a result of increased customer demand in North America, including improved product mix.
-   Operating income was $2.2 million compared to operating income of $0.1 million in the prior year period. The increase in operating income was primarily attributable to higher demand and improved operational efficiencies.

**Outlook**

CVG updated the Company's outlook for the full year 2026, based on current market conditions:

**Metric**

**Prior 2026 Outlook ($ millions)**

**Updated 2026 Outlook ($ millions)**

Revenues

$660 - $700

$725 - $755

Adjusted EBITDA

$24 - $30

$26 - $31

Free Cash Flow

Positive

Positive

This outlook reflects, among others, current industry forecasts for North America Class 8 truck builds. According to ACT Research, 2026 North American Class 8 truck production levels are expected to be at 274,111 units, up 9% versus the 2025 actual Class 8 truck builds of 251,251 units.

The outlook for the Construction end market reflects mid-single digit growth in 2026.

**GAAP to Non-GAAP Reconciliation**

A reconciliation of GAAP to non-GAAP financial measures referenced in this release is included as Appendix A to this release.

**Conference Call**

A conference call to discuss this press release is scheduled for Tuesday, August 4, 2026, at 8:30 a.m. ET. Management intends to reference the Q2 2026 Earnings Call Presentation during the conference call. To participate, dial (833) 461-5787 using conference code 592968497. International participants dial (585) 542-9983 using conference code 592968497.

This call is being webcast and can be accessed through the “Investors” section of CVG’s website at ir.cvgrp.com, where it will be archived and available for replay for one year.

**Company Contact**  
Michelle Hards  
Vice-President, Investor Relations / Corporate Financial Planning & Analysis  
CVG  
IR@cvgrp.com

**Investor Relations Contact**  
Ross Collins or Nathan Skown  
Alpha IR Group  
CVGI@alpha-ir.com

**About CVG**

CVG is a global provider of systems, assemblies and components to global commercial vehicle markets and electric vehicle markets. We deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries and communities we serve. Information about the Company and its products is available on the internet at www.cvgrp.com.

**Forward-Looking Statements**

This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as “believe”, “anticipate”, “plan”, “expect”, “intend”, “will”, “should”, “could”, “would”, “project”, “continue”, “likely”, and similar expressions. In particular, this press release may contain forward-looking statements about the Company’s expectations for future periods with respect to its plans to improve financial results, the future of the Company’s end markets, including, but not limited to, global commercial vehicle markets and electric vehicle markets, changes in the North America Class 8 and Class 5-7 truck build rates, performance of the global construction and agricultural equipment businesses, the Company’s prospects in the global commercial vehicle markets and electric vehicle markets, the Company’s initiatives to address customer needs, organic growth, the Company’s strategic plans and plans to focus on certain segments, competition faced by the Company, volatility in and disruption to the global economic environment including global supply chain constraints, inflation and labor shortages, tariffs and counter-measures, financial covenant compliance, anticipated effects of acquisitions or divestitures, production of new products, plans for capital expenditures, and the Company’s financial position or other financial information. These statements are based on certain assumptions that the Company has made in light of its experience as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including those included in the Company’s filings with the SEC. There can be no assurance that statements made in this press release relating to future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by such cautionary statements.

**Other Information**

Throughout this document, certain numbers in the tables or elsewhere may not sum due to rounding. Rounding may have also impacted the presentation of certain year-on-year percentage changes.

**COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**Three Months and Six Months Ended June 30, 2026 and 2025**

**(Unaudited)**

**(Amounts in thousands, except per share amounts)**

**Three Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**June 30, 2026**

**June 30, 2025**

Revenues

$

195,238

$

171,956

$

366,733

$

341,751

Cost of revenues

170,510

152,427

322,190

304,429

Gross profit

24,728

19,529

44,543

37,322

Selling, general and administrative expenses

23,171

18,732

42,230

35,117

Gain on sale of assets

—

—

(13,957

)

—

Operating income (loss)

1,557

797

16,270

2,205

Other (income) expense

893

427

1,782

355

Warrant expense

3,443

—

8,420

—

Loss on extinguishment of debt

1,029

460

2,987

460

Interest expense

2,947

2,291

7,041

4,794

Income (loss) before provision for income taxes

(6,755

)

(2,381

)

(3,960

)

(3,404

)

Provision for income taxes

1,987

1,725

3,880

3,841

Net income (loss) from continuing operations

$

(8,742

)

$

(4,106

)

(7,840

)

(7,245

)

Net income (loss) from discontinued operations

(1,500

)

(655

)

(1,500

)

(1,828

)

Net income (loss)

(10,242

)

(4,761

)

(9,340

)

(9,073

)

Basic earnings (loss) per share

Income (loss) from continuing operations

$

(0.25

)

$

(0.12

)

$

(0.23

)

$

(0.21

)

Income (loss) from discontinued operations

$

(0.04

)

$

(0.02

)

$

(0.04

)

$

(0.05

)

Diluted earnings (loss) per share

Income (loss) from continuing operations

$

(0.25

)

$

(0.12

)

$

(0.23

)

$

(0.21

)

Income (loss) from discontinued operations

$

(0.04

)

$

(0.02

)

$

(0.04

)

$

(0.05

)

Weighted average shares outstanding:

Basic

34,769

33,799

34,481

33,747

Diluted

34,769

33,799

34,481

33,747

**COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES**  
**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

**(Amounts in thousands, except per share amounts)**

ASSETS

**June 30, 2026**

**December 31, 2025**

Current assets:

Cash

$

35,952

$

33,282

Accounts receivable, net

115,429

86,262

Inventories

129,914

118,557

Other current assets

33,234

25,226

Total current assets

314,529

263,327

Property, plant and equipment, net

62,601

66,638

Intangible assets, net

3,064

3,350

Deferred income taxes, net

11,279

11,349

Other assets, net

63,055

47,050

Total assets

$

454,528

$

391,714

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

100,469

$

74,180

Accrued liabilities and other

53,311

31,800

Current portion of long-term debt and short-term debt

4,844

2,371

Total current liabilities

158,624

108,351

Long-term debt

86,938

104,004

Pension and other post-retirement benefits

6,721

6,902

Other long-term liabilities

66,128

39,100

Total liabilities

$

318,411

$

258,357

Stockholders’ equity:

Preferred stock

$

—

$

—

Common stock

377

342

Treasury stock, at cost

(17,308

)

(16,706

)

Additional paid-in capital

287,253

272,903

Retained deficit

(106,172

)

(96,832

)

Accumulated other comprehensive loss

(28,033

)

(26,350

)

Total stockholders’ equity

136,117

133,357

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

454,528

$

391,714

**COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES**

**BUSINESS SEGMENT FINANCIAL INFORMATION**

**(Unaudited)**

**(Amounts in thousands)**

**Three Months Ended June 30,**

**Global Seating**

**Global Electrical  
Systems**

**Trim Systems and  
Components**

**Corporate/Other**

**Total**

**2026**

**2025**

**2026**

**2025**

**2026**

**2025**

**2026**

**2025**

**2026**

**2025**

Revenues

$

80,014

$

74,457

$

62,032

$

53,585

$

53,192

$

43,914

$

—

$

—

$

195,238

$

171,956

Gross profit (loss)

11,133

9,930

6,900

5,911

6,695

3,688

—

—

24,728

19,529

Selling, general & administrative expenses

8,155

7,219

5,212

5,204

4,472

3,583

5,332

2,726

23,171

18,732

Gain on sale of assets

—

—

—

—

—

—

—

—

—

—

Operating income (loss)

$

2,978

$

2,711

$

1,688

$

707

$

2,223

$

105

$

(5,332

)

$

(2,726

)

$

1,557

$

797

**Six Months Ended June 30,**

**Global Seating**

**Global Electrical  
Systems**

**Trim Systems and  
Components**

**Corporate/Other**

**Total**

**2026**

**2025**

**2026**

**2025**

**2026**

**2025**

**2026**

**2025**

**2026**

**2025**

Revenues

$

154,519

$

147,866

$

119,478

$

104,037

$

92,736

$

89,848

$

—

$

—

$

366,733

$

341,751

Gross profit (loss)

21,565

19,023

12,669

9,900

10,309

8,399

—

—

44,543

37,322

Selling, general & administrative expenses

15,521

13,608

10,996

9,511

8,186

6,761

7,527

5,237

42,230

35,117

Gain on sale of assets

(13,716

)

—

—

—

—

—

(241

)

—

(13,957

)

—

Operating income (loss)

$

19,760

$

5,415

$

1,673

$

389

$

2,123

$

1,638

$

(7,286

)

$

(5,237

)

$

16,270

$

2,205

**COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES**

**Appendix A: Reconciliation of GAAP to Non-GAAP Financial Measures**

**(Unaudited)**

**(Amounts in thousands, except per share amounts and percentages)**

**Three Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**June 30, 2026**

**June 30, 2025**

Gross profit

$

24,728

$

19,529

$

44,543

$

37,322

Restructuring

507

1,111

1,937

1,641

Adjusted gross profit

$

25,235

$

20,640

$

46,480

$

38,963

% of revenues

12.9

%

12.0

%

12.7

%

11.4

%

**Three Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**June 30, 2026**

**June 30, 2025**

Operating income

$

1,557

$

797

$

16,270

$

2,205

Restructuring

997

1,140

2,234

1,842

Gain on sale of fixed assets

—

—

(13,957

)

—

Total operating income adjustments

997

1,140

(11,723

)

1,842

Adjusted operating income

$

2,554

$

1,937

$

4,547

$

4,047

% of revenues

1.3

%

1.1

%

1.2

%

1.2

%

**Three Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**June 30, 2026**

**June 30, 2025**

Net income (loss) from continuing operations

$

(8,742

)

$

(4,106

)

$

(7,840

)

$

(7,245

)

Operating income adjustments

997

1,140

(11,723

)

1,842

Loss on early extinguishment of debt

1,029

460

2,987

460

Warrant fair value adjustment

3,443

—

8,420

—

Adjusted provision for income taxes1

(1,367

)

(400

)

79

(576

)

Adjusted net income (loss) from continuing operations

$

(4,640

)

$

(2,906

)

$

(8,077

)

$

(5,519

)

Diluted EPS

$

(0.25

)

$

(0.12

)

$

(0.23

)

$

(0.21

)

Adjustments to diluted EPS

$

0.12

$

0.03

$

—

$

0.05

Adjusted diluted EPS

$

(0.13

)

$

(0.09

)

$

(0.23

)

$

(0.16

)

1.  Reported Tax Provision adjusted for tax effect of special charges at 25%.

**Three Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**June 30, 2026**

**June 30, 2025**

Net income (loss) from continuing operations

$

(8,742

)

$

(4,106

)

$

(7,840

)

$

(7,245

)

Interest expense

2,947

2,291

7,041

4,794

Provision for income taxes

1,987

1,725

3,880

3,841

Depreciation expense

3,637

3,514

7,215

6,952

Amortization expense

134

142

272

284

EBITDA

$

(37

)

$

3,566

$

10,568

$

8,626

% of revenues

—

%

2.1

%

2.9

%

2.5

%

EBITDA adjustments

Restructuring

$

997

$

1,140

$

2,234

$

1,842

Gain on sale of fixed assets

—

—

(13,957

)

—

Loss on extinguishment of debt

1,029

460

2,987

460

Warrant fair value adjustment

3,443

—

8,420

—

Adjusted EBITDA

$

5,432

$

5,166

$

10,252

$

10,928

% of revenues

2.8

%

3.0

%

2.8

%

3.2

%

**Three Months Ended June 30, 2026**

**Global  
Seating**

**Global  
Electrical  
Systems**

**Trim Systems  
and  
Components**

**Corporate/Other**

**Total**

Operating income (loss)

$

2,978

$

1,688

$

2,223

$

(5,332

)

$

1,557

Restructuring

997

—

—

—

997

Adjusted operating income (loss)

$

3,975

$

1,688

$

2,223

$

(5,332

)

$

2,554

% of revenues

5.0

%

2.7

%

4.2

%

1.3

%

**Six months ended June 30, 2026**

**Global  
Seating**

**Global  
Electrical  
Systems**

**Trim Systems  
and  
Components**

**Corporate/Other**

**Total**

Operating income (loss)

$

19,760

$

1,673

$

2,123

$

(7,286

)

$

16,270

Restructuring

1,562

509

163

—

2,234

Gain on sale of fixed assets

(13,716

)

—

—

(241

)

(13,957

)

Adjusted operating income (loss)

$

7,606

$

2,182

$

2,286

$

(7,527

)

$

4,547

% of revenues

4.1

%

2.3

%

0.8

%

1.1

%

**Three Months Ended June 30, 2025**

**Global  
Seating**

**Global  
Electrical  
Systems**

**Trim Systems  
and  
Components**

**Corporate/Other**

**Total**

Operating income (loss)

$

2,711

$

707

$

105

$

(2,726

)

$

797

Restructuring

358

539

243

—

1,140

Adjusted operating income (loss)

$

3,069

$

1,246

$

348

$

(2,726

)

$

1,937

% of revenues

4.1

%

2.3

%

0.8

%

1.1

%

**Six months ended June 30, 2025**

**Global  
Seating**

**Global  
Electrical  
Systems**

**Trim Systems  
and  
Components**

**Corporate/Other**

**Total**

Operating income (loss)

$

5,415

$

389

$

1,638

$

(5,237

)

$

2,205

Restructuring

358

1,069

288

127

$

1,842

Adjusted operating income (loss)

$

5,773

$

1,458

$

1,926

$

(5,110

)

$

4,047

% of revenues

3.9

%

1.4

%

2.1

%

1.2

%

The following tables present reconciliations of the captions within CVG's Condensed Consolidated Statements of Cash Flows to Free cash flow, attributable to continuing operations, discontinued operations, and total CVG for the three and six months ended June 30, 2026 and 2025.

**Three Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**June 30, 2026**

**June 30, 2025**

**CONTINUING OPERATIONS**

Cash flows from operating activities

$

1,684

$

18,720

$

123

$

33,735

Purchases of property, plant and equipment

(3,082

)

(1,465

)

(5,735

)

(5,271

)

Proceeds from disposal/sale of property, plant and equipment

30

—

15,922

—

Free cash flow from continuing operations

$

(1,368

)

$

17,255

$

10,310

$

28,464

**DISCONTINUED OPERATIONS**

Cash flows from operating activities

$

—

$

149

$

—

$

306

Free cash flow from discontinued operations

$

—

$

149

$

—

$

306

**TOTAL COMPANY**

Cash flows from operating activities

$

1,684

$

18,869

$

123

$

34,041

Purchases of property, plant and equipment

(3,082

)

(1,465

)

(5,735

)

(5,271

)

Proceeds from disposal/sale of property, plant and equipment

30

—

15,922

—

Free cash flow

$

(1,368

)

$

17,404

$

10,310

$

28,770

**Use of Non-GAAP Measures**

This earnings release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). In general, the non-GAAP measures exclude items that (i) management believes reflect the Company’s multi-year corporate activities; or (ii) relate to activities or actions that may have occurred over multiple or in prior periods without predictable trends. Management uses these non-GAAP financial measures internally to evaluate the Company’s performance, engage in financial and operational planning and to determine incentive compensation.

Management provides these non-GAAP financial measures to investors as supplemental metrics to assist readers in assessing the effects of items and events on the Company’s financial and operating results and in comparing the Company’s performance to that of its competitors and to comparable reporting periods. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. The financial results calculated in accordance with GAAP and reconciliations to those financial statements set forth above should be carefully evaluated.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**