Commercial Vehicle Group Inc. (CVG) reported net sales of $723.3 million for 2024. The company's current 2025 outlook projects net sales between $640 million and $650 million, and adjusted EBITDA between $17 million and $19 million. Free cash flow for 2025 is expected to exceed $30 million, in line with prior guidance, with plans to use it for debt reduction. Year-to-date free cash flow reached $25.0 million, an improvement of $14.0 million over the prior year, attributed to improved working capital and lower capital spending. In the third quarter of 2025, CVG recorded gross profit of $16.0 million, adjusted gross profit of $18.4 million (12.1% of revenues), and an operating loss of $1.1 million. Adjusted operating income for the quarter was $1.6 million, or 1.1% of revenues. The company reported a net loss of $6.8 million for the quarter. CVG continued to focus on operational efficiency, reducing headcount by approximately 170 roles during the quarter and a year-to-date decrease of around 7% from year-end 2024. The Electrical Systems segment showed year-over-year and sequential margin expansion, supported by new business wins. The company expects segment revenue to increase by a high single-digit to low double-digit percentage in 2026, driven by a ramp-up of new business and increased capacity utilization. The agriculture equipment end market experienced a year-over-year decline of 5% to 15%, but CVG anticipates recovery in 2026 and beyond due to replacement needs and secular trends.