CVG Q3 revenue down 15.3% to $172M, EPS $(0.03); cuts FY2024 guidance, divests two businesses

Commercial Vehicle Group, Inc.

Revenue $171.8M (-15.3% YoY); net loss $0.9M ($(0.03) diluted EPS) from continuing ops.
Adjusted EBITDA $4.3M (margin 2.5%), down 64.8% from $12.2M in prior year.
FY2024 guidance lowered: net sales $710-740M, Adj EBITDA $20-25M (prev $28-36M).
Closed sale of Cab Structures (Oct 1) and Industrial Automation (Oct 30); proceeds used for debt paydown.
Management cites softer demand, operational inefficiencies; new business wins $95M YTD.

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