Commercial Vehicle(US:CVGI)2025-11-11 13:30Financial Performance - Q3 2025 revenue was $152.5 million[6], down 11.2% year-over-year[14] - Adjusted EBITDA increased 7% year-over-year to $4.6 million[14] - Adjusted EPS was ($0.14) per diluted share[6] - Adjusted gross margin improved to 12.1%, up 10 bps sequentially from Q2 2025 and 370 bps from Q4 2024[6] - Year-to-date free cash flow was $25 million, an improvement of $14 million over the prior year[6] Segment Performance - Global Seating revenue decreased 10% year-over-year in Q3 2025 to $68.7 million[16], but adjusted operating income increased by $3.7 million[22] - Global Electrical Systems revenue increased 6% year-over-year in Q3 2025 to $49.5 million[24], and adjusted operating income increased by $1.6 million[30] - Trim Systems and Components revenue decreased 29% year-over-year in Q3 2025 to $34.3 million[32], with an adjusted operating income decline of $4.4 million[35] Outlook and Strategy - The company expects free cash flow of at least $30 million in 2025[50] - The company is targeting a $30 million improvement in working capital in 2025[48] - The company updated its fiscal 2025 outlook, projecting net sales of $640-$650 million and adjusted EBITDA of $17-$19 million[49]