Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET

Company Participants

James Ray - President & Chief Executive Officer
Andy Cheung - Executive Vice President, Chief Financial Officer & Information Technology

Conference Call Participants

Joe Gomes - Noble Capital
John Franzreb - Sidoti Company
Gary Prestopino - Barrington Research
Steven Martin - Slater Capital Management

Operator

Good morning, ladies and gentlemen, and welcome to the CVGI Third Quarter 2024 Earnings Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]. This call is being recorded in Tuesday, November 5, 2024.

I would now like to turn the conference over to Andy Cheung, CFO. Please go ahead.

Andy Cheung

Thank you, operator, and welcome everyone to our conference call. Joining me on the call today is James Ray, President and CEO of CVG. This morning, we will provide a brief company update as well as commentary regarding our third quarter 2024 results. After which, we will open the call for questions.

As a reminder, this conference call is being webcast in the Q3 2024 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-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 are not limited to economic conditions in the markets in which CVG operates, fluctuations in the product volumes of vehicles for which CVG is a supplier, financial covenant compliance and liquidity, 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 James to provide a company update.

James Ray

Thank you, Andy. I'd like to turn your attention to the supplemental earnings presentation starting on Slide 3. Since taking over as CEO 11 months ago, my focus has been on reshaping CVG's operating model, creating a lower cost and more agile foundation for the company.

As is highlighted on the right hand side of this page, we have taken several strategic steps this year in order to refine our business model and create a more customer focused company, Specifically, the sale of FinishTEK, our Cab Structures business, Chillicothe, Ohio facility and Industrial Automation segment have streamlined our core capabilities, resulting in a more focused portfolio with an improved cost structure, a heightened focus on operational excellence and a more deliberate commercial strategy.