Commercial Vehicle Group, Inc. (CVGI) Form 8-K — Nov 2, 2026
CVG reported Q3 2026 revenue of $208.1 million, up 36.5% year over year, and swung to net income of $5.6 million ($0.14 diluted EPS) from a $6.8 million loss a year earlier. Adjusted EBITDA rose 84.8% to $8.5 million with a 4.1% margin, and the company raised its full-year revenue outlook to $755-$775 million. The Board appointed David Ruppel, currently SVP and GM of Transportation & Logistics at Littelfuse, as President and CEO and director effective November 9, 2026, succeeding James Ray, who steps down and remains Senior Advisor until retiring January 5, 2027.
Key figures
- Eps
- 0.14
- Revenue
- 208100000
- Guidance
- FY2026 revenue raised to $755-$775 million (from $725-$755 million); Adjusted EBITDA narrowed to $26-$29 million (from $26-$31 million), top end reduced for CEO succession expenses; free cash flow expected positive.
- Net Income
- 5600000
- Revenue Yoy
- 36.5%
- Cash Position
- 39800000
- Adjusted eps
- $0.03 vs $(0.14) prior year
- Net leverage
- ~2.7x
- Adjusted ebitda
- $8.5 million vs $4.6 million prior year (84.8% increase)
- Total liquidity
- $123.1 million
- Operating income
- $7.7 million (includes $3.1 million gain on asset sale) vs $(1.1) million
- Ordinary severance
- 24 months base salary continuation
- Relocation payment
- $60,000
- New ceo base salary
- $700,000
- Adjusted ebitda margin
- 4.1% vs 3.0%
- Gross margin expansion
- 300 bps yoy, 80 bps sequential
- New ceo initial lti award
- $1,600,000 target (40% restricted shares / 60% performance shares)
- Severance change in control
- 2x base salary plus target annual bonus
- New ceo annual incentive target
- 100% of base salary (0-200% payout)
- New ceo total target compensation
- no less than $3,000,000 annually
AI analysis
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