Operational Excellence
99% of customer scorecards for quality and service were green. 97% of new program launches also received green scorecards. Safety performance was excellent with a total incident rate of 0.28, well below the benchmark of 0.47.
Cost Optimization and Margin Improvement
Manufacturing and purchasing teams delivered $18 million in savings, leading to a 140 basis point improvement in gross margin compared to last year.
Net New Business Awards
The company received $96 million in net new business awards in Q3, with a total of $229 million for the first 9 months of 2025.
Adjusted EBITDA Growth
Adjusted EBITDA increased by 15.6% to $53.3 million compared to the previous year.
Positive Cash Flow and Liquidity
Net cash provided by operating activities was $39 million in Q3, with a free cash flow of $27 million for the quarter. Total liquidity stood at approximately $314 million.
Advancements in Margin Expansion
Gross profit margin increased by 170 basis points for the first 9 months, and adjusted EBITDA margin improved by 230 basis points compared to last year.
Strategic Alignment with Electric Vehicles
83% of new business awards were related to battery electric or hybrid vehicle platforms.