Core Viewpoint - Martinrea International Inc. reported strong performance in Q3 2025, with improved operating income margins and positive results despite challenges from tariffs and production disruptions at key customers [3][4]. Financial Performance - Total sales for Q3 2025 were $1,190.8 million, a decrease of $46.7 million or 3.8% compared to Q3 2024 [4][15]. - Adjusted Operating Income for Q3 2025 was $65.0 million, with an Adjusted Operating Income Margin of 5.5%, up 20 basis points year over year [4][36]. - Free Cash Flow for Q3 2025 was $44.5 million, impacted by delayed collections due to a cybersecurity incident [4][36]. - Net Income for Q3 2025 was $35.8 million, a significant increase of 152.6% from $14.2 million in Q3 2024 [4][36]. Business Developments - The company secured new business worth approximately $30 million in annualized sales, contributing to a total of $170 million in new business awards over the last four quarters [3][4]. - Martinrea expects to finalize agreements on tariff relief with customers before year-end, which will cover most of its exposure [3][4]. Segment Performance - North America sales decreased by $47.8 million or 5.0% to $912.5 million in Q3 2025, primarily due to lower OEM production volumes and a decrease in tooling sales [15][16]. - Europe sales decreased by $2.9 million or 1.2% to $247.6 million, affected by lower OEM production volumes and tooling sales [18][23]. - Sales in the Rest of the World increased by $1.2 million or 3.7% to $34.9 million, driven by higher production volumes with General Motors and Mercedes [19][24]. Gross Margin Analysis - Gross margin for Q3 2025 was $169.97 million, representing 14.3% of total sales, an increase from 13.2% in Q3 2024 [26][27]. - The gross margin percentage for the nine months ended September 30, 2025, was 13.9%, up from 13.4% in the same period of 2024 [27][29]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.05 per share, payable to shareholders of record on December 31, 2025 [42].