Commercial Vehicle Group Inc
For the period ended Nov 4, 2024. Filed Nov 4, 2024.
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Nov 4, 2024 · Filed Nov 4, 2024
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Contents
EX-99.1 · Electrical Systems Segment
Electrical Systems Segment
Revenues were $43.4 million compared to $53.9 million in the prior year period, a decrease of 19.5%, primarily due to a global softening in the Construction & Agriculture end-markets and the phase out of certain lower margin business.
Operating loss was$0.4 million compared to operating income of$5.9 million in the prior year period, a decrease of 106.6%. The decrease in operating income was primarily attributable to lower sales volumes, restructuring activities, and unfavorable foreign exchange. Third quarter 2024 adjusted operating income was $0.9 million compared to $5.9 million in the prior year period.
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