Commercial Vehicle Group Inc (CVGI) News & EventsCVGINews & EventsCommercial Vehicle Group Inc

Commercial Vehicle Group Appoints Angie O'Leary as CFO

Commercial Vehicle Group announced that its board of directors has appointed Angie O'Leary as executive VP and CFO, effective August 6. O'Leary has served as interim CFO since March and previously held the positions of senior VP, corporate controller and chief accounting officer.

Company Raises FY26 Adjusted EBITDA Outlook to $26M-$31M

Consensus $681.07M. Raises FY26 adjusted EBITDA view to $26M-$31M from $24M-$30M. 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."

CVG Reports Q2 Revenue of $195.24M, Beating Expectations

Reports Q2 revenue $195.24M, consensus $171.61M. 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."