Wednesday, November 12, 2025
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. CVG’s operating environment remains challenged with lower demand in the key Construction, Agriculture, and Class 8 truck end markets. Nonetheless, in 3Q25, the Company saw continued sequential expansion in adjusted gross margin in the quarter. The Company is making progress with customers in regards to mitigating tariff impacts.
3Q25 Results. Revenues of $152.5 million were down 11.2%, primarily due to softening in North American demand. We were at $158 million. Adjusted EBITDA was $4.6 million, up 7.0%, with an adjusted EBITDA margin of 3.0%, up from 2.5% a year ago. CVG reported a net loss from continuing operations of $6.8 million, or $(0.20)/sh and adjusted net loss of $4.6 million, or $(0.14)/sh, compared to net loss from continuing operations of $0.9 million, or $(0.03)/sh, and adjusted net loss of $0.4 million, or $(0.01)/sh.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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