Improvement in Gross Margin
Adjusted gross margin for Q3 2025 was 12.1%, up 10 basis points sequentially and 50 basis points year-over-year, driven by operational efficiency improvements.
Global Electrical Systems Revenue Increase
The Global Electrical Systems segment saw a 6% revenue increase compared to the prior year, driven by new programs with an autonomous vehicle manufacturer in North America and a major automotive manufacturer in Europe.
Year-to-Date Free Cash Flow Improvement
CVG generated $25 million in free cash flow for the first nine months of 2025, up $14 million from the previous year due to improved working capital performance and lower capital expenditures.
Adjusted Operating Income in Global Seating Segment
Despite a 10% revenue decrease, adjusted operating income rose by $3.7 million compared to the third quarter of 2024 due to operational efficiency improvements and lower SG&A expenses.