Wednesday, November 04, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. In the third quarter of 2026, CVG delivered year-over-year revenue growth across all 3 segments, reflecting ongoing efforts to reduce end-market concentration in cyclical North American Class 8 truck exposure through geographic and end-market diversification. While there are still macroeconomic uncertainties to monitor, we believe CVG is hitting its stride as new business wins are ramping up coincidentally with a recovery in key end markets.
3Q26 Numbers. Revenue of $208.1 million rose 36.5%. We had forecast $195 million. Gross margin expanded 300 bp to 13.5% and was up 80 bp sequentially. Adjusted EBITDA came in at $8.5 million, versus $4.6 million in 3Q25. Adjusted EPS was $0.03 compared to an adjusted net loss of $0.14/sh last year. We had forecast $10 million and $0.03, respectively.
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