Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Q3 2022 Results Conference Call November 3, 2022 10:00 AM ET

Company Participants

Andy Cheung - EVP & CFO

Harold Bevis - President & CEO

Conference Call Participants

John Franzreb - Sidoti

Operator

Good morning, ladies and gentlemen, and welcome to CVG's Third Quarter 2022 Earnings Conference Call. During today's presentation, all parties will be on listen-only mode. Following the presentation, the conference will be opened for questions with instructions to follow at that time. As a reminder, this conference is being recorded.

I would now like to turn the call over to Mr. Andy Cheung, Executive Vice President and Chief Financial Officer. Please go ahead, sir.

Andy Cheung

Thank you, operator, and welcome, everyone, to our conference call. I'm very excited to join the CVG team and participate in my first earnings call with the company. Joining me on the call today is Harold Bevis, President and CEO of CVG. This morning, we'll provide a brief company update as well as commentary regarding our third quarter 2022 results, after which, we'll open the call for questions. As a reminder, this conference call is being webcast and a supplemental earnings presentation is available on our website, which we will refer to during the call. Both may contain forward-looking statements, including, but not limited to, expectations for future periods regarding market trends, cost-saving 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 not limited to, economic conditions in the markets in which CVG operates, fluctuations in the production volumes of vehicles for which CVG 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 filings. I will now turn the call over to Harold to provide a company update.

Harold Bevis

Thank you, Andy, and a sincere welcome to the team, and good morning, everyone. I will be referring to our earnings presentation, which is found on our website. So if you could locate that document that'll be helpful in the dialogue this morning. CVG delivered solid results in the third quarter across key metrics, and we continue to build strong momentum in our business transformation. And as part of this transformation and as a result of the new wins over the past several years, CVG is positioning itself as a leading global electric system supplier and we remain on track for electrical systems to become our largest product line. As we have outlined in previous calls, this shift will prove to be accretive to our organic growth and profitability, all while reducing the cyclicality and historical customer concentration of our business.