EarningsQ2 2026 Earnings Report

Commercial Vehicle Group (FDU) Q2 2026 Earnings Report

2 Followers

Previous Report: Q1 2026

DE:FDU Q2 2026 EPS Results

Actual EPS-€0.12

Consensus EPS-€0.04

Beat/MissMissed by -€0.07

One Year Ago EPS-€0.08

DE:FDU Q2 2026 Revenue Results

Actual Revenue€174.25M

Expected Revenue€153.14M

Beat/MissBeat by +€21.11M

YoY Revenue Growth+13.54%

Earnings Announcement Details

QuarterQ2 2026

Date08/03/2026

TimeAfter Close

Conference CallMonday, August 3, 2026

DE:FDU Upcoming Earnings

Commercial Vehicle Group's next earnings date is estimated for November 4, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

DE:FDU Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Aug 03, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed meaningful progress: top-line growth across all segments, gross margin expansion, notable segment-level ramps (Electrical, Trim, Seating), deleveraging actions and an upward revision to 2026 revenue and EBITDA guidance. Offsetting these positives were continued GAAP and adjusted losses, a Q2 free cash outflow driven by working-capital investment, elevated SG&A (incentive-related) and near-term macro/supply-chain risks. Management emphasized ongoing margin opportunity from operating leverage and pricing/mix while balancing cash generation and debt reduction.

Company Guidance

CVG raised its 2026 guidance to revenue of $725–$755 million (≈+14% vs. 2025 at the midpoint) and adjusted EBITDA of $26–$31 million (≈+60% vs. 2025 at the midpoint), expects positive free cash flow for 2026, and reiterated a long‑term net leverage target of ~2x (net leverage improved to 3.3x from 4.1x at 2025 year‑end after $14.6M of debt paydown since year‑end, $11.6M of ATM proceeds, sale‑leaseback proceeds including $3.8M for Dublin, and $26.2M year‑to‑date term‑loan paydown). Q2 metrics: revenue $195.2M (vs. $172M), adjusted gross margin 12.9% (+90 bps YoY, +70 bps sequential), adjusted EBITDA $5.4M (margin 2.8%, down 20 bps YoY), adjusted net loss $4.6M (−$0.13/sh), GAAP net loss $8.7M (−$0.25/sh), interest expense $2.9M, and FCF outflow $1.4M (vs. inflow $17.3M prior year). Management cited ACT Class 8 forecasts of +9% in 2026, +9% in 2027 and +13% in 2028 (Q2 production ~68,000), confirmed Zoox ramp plans (~2,500 vehicles in 2026, 5,000 in 2027, 10,000 in 2028), expects SG&A ~11–11.5% of sales in 2026 with a longer‑term SG&A target of ~10% and a long‑term gross‑margin target in the mid‑teens, and anticipates H2 interest expense run‑rate of roughly $2.0–$2.5M per quarter.

Consolidated Revenue Growth

Q2 2026 consolidated revenue of $195.2M vs $172.0M prior year, increase of ~13.5% YoY, driven by increased international demand and ramps of previously awarded new business across all three segments.

Adjusted Gross Margin Expansion

Adjusted gross margin improved to 12.9%, up 90 basis points YoY and 70 basis points sequentially (Q1 2026), driven by operational efficiency and improved volumes.

Strong Segment Performance — Electrical Systems

Electrical Systems revenue $62.0M, up 15.8% YoY; adjusted operating income $1.7M, up $0.5M YoY. Growth driven by program ramps (including Zoox) and improved utilization at Aldama and Tangier.

Robust Growth — Trim Systems & Components

Trim Systems & Components revenue $53.2M, up 21.1% YoY; adjusted operating profit $2.2M vs $0.3M prior year, reflecting favorable product mix and volume leverage despite Class 8 headwinds.

Global Seating Improvement

Global Seating revenue $80.0M, up 7.5% YoY; adjusted operating income $4.0M, up $0.9M YoY, aided by international demand and footprint consolidation in Asia Pacific.

Debt Reduction and Deleveraging Progress

Total debt paydown of $14.6M since end of 2025; net leverage reduced from 4.1x to 3.3x (net debt / trailing 12-month adjusted EBITDA). ATM program generated $11.6M net proceeds; sale-leaseback transactions and subsequent $3.8M Dublin sale-leaseback applied to term loan.

Raised 2026 Guidance

Raised 2026 revenue guidance to $725M–$755M (midpoint ~14% growth vs 2025) and adjusted EBITDA guidance to $26M–$31M (midpoint ~60% growth vs 2025), reflecting H1 momentum and continued ramps.

Zoox Program Commercial Ramp

Zoox moved to commercial scale production: NHTSA approval to begin charging; fleet deployment starting in Las Vegas. Management affirmed previously disclosed multi-year volume plan (approximately 2,500 vehicles in 2026, 5,000 in 2027, 10,000 in 2028) and expects meaningful utilization/margin benefit as production scales.

DE:FDU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 04, 2026	2026 (Q3)	0.03 / -	-0.125	―
Aug 03, 2026	2026 (Q2)	-0.04 / -0.12	-0.08	-44.44% (-0.04)
May 05, 2026	2026 (Q1)	-0.12 / -0.09	-0.071	-25.00% (-0.02)
Mar 10, 2026	2025 (Q4)	-0.13 / -0.16	-0.134	-20.00% (-0.03)
Nov 10, 2025	2025 (Q3)	-0.11 / -0.12	-0.009	-1300.00% (-0.12)
Aug 04, 2025	2025 (Q2)	-0.06 / -0.08	0.054	-250.00% (-0.13)
May 06, 2025	2025 (Q1)	-0.13 / -0.07	0.116	-161.54% (-0.19)
Mar 10, 2025	2024 (Q4)	-0.07 / -0.13	0.08	-266.67% (-0.21)
Nov 04, 2024	2024 (Q3)	0.04 / >-0.01	0.196	-104.55% (-0.21)
Aug 05, 2024	2024 (Q2)	0.15 / 0.05	0.286	-81.25% (-0.23)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed