Commercial Vehicle Group, Inc.

good morning ladies and gentlemen and welcome to cvg's first quarter 2026 earnings conference call all parties are currently in listen only mode following the presentation we will host a question and answer session if you would like to ask a question please press star 1 to raise your hand to withdraw your question press star 1 again as a reminder this call is being recorded I will now hand the conference over to Michelle Hartz, Vice President of Investor Relations. Please go ahead.

Thank you, Operator, and welcome everyone to our first quarter 2026 conference call. Joining me on the call today are James Ray, President and CEO, and Angie O'Leary, Interim Chief Financial Officer. This morning, we will provide a brief company update as well as commentary regarding our first quarter 2026 results after which we will open the line for questions. As a reminder, this conference call is being webcast, and a Q1 2026 earnings call presentation, which we will refer to during this call, is available on our website. Both may contain forward-looking statements, including, but not limited to, expectations for future periods regarding market trends, cost savings initiatives, and new product initiatives, among others. Actual results may differ from anticipated results because of certain risks and uncertainties. These risks and uncertainties may include, but are not limited to, economic conditions in the markets in which CBG operates, fluctuations in the production volumes of vehicles for which CBG is a supplier, financial covenant compliance and liquidity, risks associated with conducting business in foreign countries and currencies, and other risks as detailed in our SEC filing. I will now turn the call over to James to provide some highlights from our first quarter performance.

Thank you, Michelle. Good morning and thanks to all those who joined the call. Before turning to the results, I'm excited to welcome Angie O'Leary, our Interim Chief Financial Officer, to her first earnings call. Angie brings extensive knowledge of CVG to the role and her extensive experience will be critical as we look to sustain our current momentum going forward. Please turn your attention to the supplemental earnings presentation starting on slide three. As we have highlighted on this slide, CVG delivered year-over-year revenue growth driven by strong results within our global electrical systems and global seeding segments. This is a testament to our efforts to reduce concentration of cyclical North American Class VIII end markets. Combined with the actions taken in recent quarters to improve operational efficiency, CVG is well positioned to capitalize on the recovery in our end markets that we are beginning to experience. During the quarter, we delivered adjusted gross margin of 12.2%, up 140 basis points, compared to last year, and 250 basis points sequentially from the fourth quarter of 2025. The continued year-over-year and sequential improvement in profitability was again driven by our focus on improvements in operational efficiency. One of our stated objectives over the past year has been to grow our global electrical systems segment. And our success is evidence by the 14% growth in segment revenues in the quarter. This growth has been driven by the ramp of previously mentioned programs across the North American and international markets. Our Aldama Mexico and Tangier Morocco facilities, we have mentioned on previous calls, are serving the growing demand in this segment. Their utilization should increase further as we ramp production under our Zoox contract and other new business wins, which is expected to provide a growth tailwind starting in the second half of this year. Another highlight in the last quarter was the execution of a sale-leaseback transaction of our Venore, Tennessee manufacturing facility. This facility is strategic for our global seeding business, and we expect it to support future growth. The transaction, which we will discuss in more detail later in the call, provided us with cash that we used to pay down debt by $12.8 million since the end of 2025, facilitating a net leverage ratio reduction from 4.1 times at the end of 2025 to 3.8 times at the end of the first quarter. Our goal remains to bring leverage back down to the two times level over time. Looking forward, while there is still plenty of macroeconomic volatility and uncertainty, we are encouraged by the operational efficiency improvements we've made and the early signs of in-market improvement. With the Class 8 truck production projected to grow 9% in 2026, while we simultaneously benefit from the ramp up of new business within global electrical systems. Our focus for the balance of the year remains on continued disciplined execution, prudent cost management, and putting CVG in a position to drive accretive growth due to improving demand trends. Turning to slide four, I will provide more details on what we're seeing in the global electrical system segment. I'll get into the drivers momentarily, but we continue to expect our global electrical system segment sales to increase more than 10% in 2026. Again, this increase is driven by the continued ramp up of new business wins, which is accelerating the utilization of our recent capacity additions in Mexico and Morocco. The structural improvements to our business model in this segment are helping to drive growth and reduce volatility. The biggest driver of recent performance as well as our expectations for growth in 2026 and beyond, is the ramp of new business previously won. We spoke last quarter about the Zoox Robotaxi program, and we are starting to ramp production to support that program. This ramp is expected to solidify CVG as a strategic supplier to the autonomous vehicle sector. As Zoox and other programs ramp up, We are seeing improved utilization at our new production facilities in Aldama, Mexico and Tangier, Morocco, helping drive margin expansion. The low-cost facilities have the capability to meet the unique needs of programs such as Zoox and other new programs. As these ramp-ups continue and other programs contribute, we expect to see continued margin improvement throughout 2026 and beyond for the global electrical system segment. With that, I would like to turn the call over to Angie for a more detailed review of our financial results.