Core Molding Technologies Reports Fiscal 2026 Third Quarter Results

Tooling project revenue rose to $25.4 million from $4.3 million, increasing its share of sales and weighing on reported margins.

Rhea-AI Summary

Core Molding Technologies (CMT) reported third-quarter 2026 revenue growth of 54.4%, while earnings declined from the prior-year quarter. Revenue reached $90.237 million, including $64.8 million of production revenue and $25.4 million of tooling project revenue. Net income fell to $1.5 million, or $0.17 per diluted share, from $1.9 million, or $0.22. Gross margin narrowed to 14.8% from 17.4%, with tooling mix, Monterrey commissioning charges and higher input costs weighing on profitability.

Monterrey is operational, and the company expects two Matamoros presses online by year-end. Approximately $30 million in new business awards have been secured this year. Core maintained its expectation for full-year net sales to be flat to up approximately 5%, with gross margins of 16% to 17%. Nine-month operating cash flow fell to $3.370 million from $14.166 million, while capital expenditures totaled $19.7 million.

15 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 17 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter production revenue increased 19.7% year-over-year to $64.8 million, supported by truck demand and program launches.
• Moderate pointThird-quarter tooling project revenue rose to $25.4 million from $4.3 million a year earlier.
• Moderate pointNew business awards secured this year total approximately $30 million, including a battery energy storage systems award. 15% of market cap
• Moderate pointRefinanced credit facilities provide $100 million: a $50 million revolver and $50 million delayed draw term loan. 50% of market cap
• Minor pointThird-quarter gross profit increased to $13.383 million from $10.145 million a year earlier.

10 minor points

• Minor pointNine-month production revenue increased 3.6% to $183.2 million, supported by powersports demand and program launches.
• Minor pointNine-month tooling project revenue increased to $28.4 million from $22.3 million a year earlier.
• Minor pointThird-quarter truck production revenue rose to $28.191 million from $19.470 million a year earlier.
• Minor pointBuilding products revenue rose year-over-year to $6.897 million quarterly and $18.387 million over nine months.
• Minor pointIndustrial and utilities revenue rose year-over-year to $7.111 million quarterly and $18.642 million over nine months.
• Minor pointOther-market production revenue rose year-over-year to $9.073 million quarterly and $24.755 million over nine months.
• Minor point. Forward-looking: it has not happened yet and may not happen.Core sees a path to approximately $50 million in new business awards through six late-stage sales projects.
• Minor point. Forward-looking: it has not happened yet and may not happen.Monterrey is operational; Core expects two 4,500-ton Matamoros presses online by year-end.
• Minor point. Forward-looking: it has not happened yet and may not happen.Full-year outlook remains flat to up approximately 5% net sales, with gross margins of 16% to 17%.
• Minor pointLong-term debt was zero at September 30, 2026, versus $17.639 million at December 31, 2025.

Negative

• Moderate pointThird-quarter gross margin narrowed to 14.8% from 17.4%, pressured by tooling mix, commissioning and input costs.
• Moderate pointNine-month truck production revenue declined to $71.898 million from $80.276 million a year earlier.
• Moderate pointNine-month net income fell to $3.9 million, or $0.45 diluted EPS, from $8.1 million, or $0.93.
• Moderate pointNine-month operating income declined to $4.6 million from $10.6 million a year earlier.
• Moderate pointNine-month administrative expenses rose to $33.4 million from $25.6 million, including $6.6 million of non-recurring costs. 3.3% of market cap
• Moderate pointNine-month adjusted EBITDA declined to $21.4 million from $23.1 million; margin fell to 10.1% from 11.6%.
• Moderate pointNine-month operating cash flow decreased to $3.370 million from $14.166 million a year earlier.
• Moderate pointCash fell to $5.437 million at September 30, 2026 from $38.058 million at December 31, 2025.
• Moderate pointNine-month capital expenditures were $19.7 million, including $12.2 million for Mexico expansion. 9.9% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Core expects full-year capital spending of approximately $28 million to $30 million, including approximately $20 million for Mexico.

7 minor points

• Minor pointThird-quarter net income declined to $1.5 million, or $0.17 diluted EPS, from $1.9 million, or $0.22.
• Minor pointThird-quarter operating income fell to $1.6 million from $2.6 million a year earlier.
• Minor pointThird-quarter administrative expenses increased to $11.8 million from $7.6 million, including $1.8 million of non-recurring costs.
• Minor pointThird-quarter adjusted EBITDA remained $6.4 million, but its revenue margin fell to 7.1% from 11.0%.
• Minor pointThird-quarter powersports revenue fell to $13.555 million from $17.548 million, despite nine-month growth to $49.497 million.
• Minor pointNine-month gross margin narrowed to 18.0% from 18.2%, despite gross profit increasing to $38.089 million.
• Minor pointRevolving debt reached $4.810 million at September 30, 2026, versus zero at December 31, 2025.

News Explained

At September 30, 2026, Core Molding Technologies reported $5,437 thousand of cash and $4,810 thousand of revolving debt; its secured facilities totaled $100 million, comprising a $50 million revolver and a $50 million delayed-draw term loan.

Key Figures

Total net revenue: $90.237 million; increased 54.4% Production revenue: $64.8 million; increased 19.7% Tooling Project revenue: $25.4 million vs. $4.3 million +5 more

Total net revenue

$90.237 million; increased 54.4%

Third quarter 2026

Production revenue

$64.8 million; increased 19.7%

Third quarter 2026 year over year

Tooling Project revenue

$25.4 million vs. $4.3 million

Third quarter 2026 vs. prior-year quarter

Gross margin

14.8% vs. 17.4%; 18.6% excluding tooling project revenue mix and Monterrey commissioning charges

Third quarter 2026 vs. prior-year quarter

Net income

$1.5 million vs. $1.9 million

Third quarter 2026 vs. prior-year quarter

Adjusted net income per diluted share

$0.33 vs. $0.24

Third quarter 2026 vs. prior-year period

Adjusted EBITDA margin

7.1% vs. 11.0%

Third quarter 2026 vs. prior-year quarter

Full-year net sales outlook

Flat to up approximately 5%

Fiscal 2026

Historical Context

1 past event · Latest: Aug 04

1 event

1. Aug 04

   2Q26 earnings

   24h Move

   +2.3%

   Production revenue was roughly flat as tooling revenue fell to $1.8 million, lowering total revenue.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

sheet molding compound, resin transfer molding, dicyclopentadiene, direct long-fiber thermoplastics

4 terms

sheet molding compound technical

"compression molding of sheet molding compound (“SMC”)"

Sheet molding compound (SMC) is a ready-to-mold fiber-reinforced composite material made by layering chopped glass fibers, resin (typically polyester or vinyl ester), fillers, and catalysts between sheets of carrier film; the sandwich is compacted and partially cured into a thick, tacky sheet that is stored on rolls. During manufacturing, heated compression molds shape and complete the cure of SMC into rigid, high-strength parts with good surface finish and consistent thickness, commonly used for automotive body panels, electrical enclosures, and structural components where corrosion resistance, dimensional stability, and repeatable large-volume production are required.

resin transfer molding technical

"resin transfer molding (“RTM”)"

Resin transfer molding is a manufacturing method for making strong, lightweight composite parts by placing dry reinforcing fibers (like cloth or mats) into a closed mold and then pumping liquid resin into the mold so it soaks the fibers and hardens. Think of it like filling a shaped sandwich of fabric with liquid glue that then sets into a rigid piece. It matters to investors because the process affects production speed, part quality, material costs, and scalability for companies that use composites in industries such as aerospace, automotive, and renewable energy.

dicyclopentadiene technical

"liquid molding of dicyclopentadiene (“DCPD”)"

Dicyclopentadiene is a colorless, oily hydrocarbon produced when two cyclopentadiene molecules combine; it is commonly sold as a liquid and can be thermally broken back into cyclopentadiene monomer for chemical manufacturing. It is used as a feedstock in making resins, polymers, adhesives and specialty chemicals, and it is flammable and subject to workplace, transportation and environmental controls because of its volatility and potential health hazards on exposure.

direct long-fiber thermoplastics technical

"direct long-fiber thermoplastics (“DLFT”)"

A class of reinforced plastic materials in which long reinforcing fibres (usually glass or carbon, typically several millimetres to a few centimetres long) are embedded directly into a thermoplastic polymer matrix during compounding or molding. The manufacturing routes feed continuous rovings or pre-formed long-fibre mats into an extruder or injection-molding process so the fibres become dispersed but remain much longer than in standard short-fibre blends, giving higher stiffness, strength and impact resistance than short-fibre thermoplastics while remaining moldable like other thermoplastics. They are distinct from short-fibre thermoplastics (which use much shorter chopped fibres) and from continuous-fibre composites (which use uninterrupted fibre paths), so they occupy an intermediate performance and processing niche.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Product Revenue Grows 19.7%; Mexico Expansion and Footprint Optimization Position Company for Further End-Market Diversification and Growth

COLUMBUS, Ohio, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Core Molding Technologies, Inc. (NYSE American: CMT) (“Core Molding”, “Core” or the “Company”), a leading engineered materials company specializing in molded structural products, principally in medium- and heavy-duty truck, powersports, building products, and industrial and utilities industries across the United States, Canada and Mexico today reports financial and operating results for the fiscal periods ended September 30, 2026.

Eric Palomaki, the Company’s President and Chief Executive Officer, said, “Our third quarter results reflect continued progress against our strategic initiatives that will shape our next phase of growth. While the quarter absorbed several one-time start-up costs associated with our Mexico expansion, footprint optimization, and higher external input costs, we achieved key operational milestones that position us for improved performance. Monterrey is now operational, and the two 4,500-ton presses in Matamoros, which many of our investors saw under construction at our recent Investor Day, are on track to come online by year-end, further expanding our capacity and supporting long-term growth.

As highlighted at our September Investor Day, demand trends continued to improve across several of our key markets. Medium- and heavy-duty truck production continued to recover during the quarter, while building products and industrial and utilities end markets remained healthy. Our commercial pipeline continues to strengthen. So far this year, we have secured approximately $30 million in new business awards and see a path to approximately $50 million in new business awards through six major projects currently in our last stage of our sales pipeline funnel. We also continue to expand our position in attractive long-term growth markets, including a significant award for battery energy storage systems. As electrification, grid hardening and increasing power demand drive infrastructure investment, we believe we are well-positioned to capitalize on these opportunities and further diversify our end-market exposure while advancing sustainable long-term growth,” commented Palomaki.

Alex Panda, the Company’s EVP and Chief Financial Officer, said, “Third quarter financial results reflected strong underlying business activity and continued execution of our strategic growth investments.   Product revenue increased nearly 20% year-over-year, driven by improving heavy-duty truck demand, new program launches, and continued strength in our building products and industrial and utilities end markets.   While profitability was impacted by one-time commissioning costs in Monterrey, portfolio footprint optimization activities, and higher external input costs, these investments are supporting additional capacity, improving operating efficiency, and future growth. Additionally, tooling project revenue accounted for a larger portion of sales during the quarter, which impacts our reported margins in the short term but creates recurring demand and revenue.   Gross margin was 14.8% for the quarter and would have been approximately 18.6%, excluding the impact of tooling project revenue mix and Monterrey commissioning charges. Consistent with our outlook discussed at our Investor Day, we continue to expect full-year net sales to be flat to up approximately 5% with gross margins in the 16% to 17% range.

During the quarter, we continued to invest in initiatives that support long-term growth while maintaining financial flexibility.   This included approximately $0.8 million to establish a center of excellence for our hood and battery systems in our Gaffney, South Carolina facility. Consistent with our disciplined capital allocation strategy, we also remained active in our share repurchase program during the quarter and into October,” commented Panda.

Third Quarter 2026 Highlights

• Total net revenues increased 54.4%, comprised Production revenues of $64.8 million and Tooling Project revenue of $25.4 million.
  • Production revenues increased 19.7% year-over-year, mainly due to higher demand from the medium and heavy-duty truck and new program launches.
  • Tooling Project revenue of $25.4 million compared to $4.3 million year-over-year is project-based revenue that is necessary ahead of a customer production cycle.
• Gross margin of $13.4 million, or 14.8% of net revenues, compared to 17.4% of net sales in the prior year third quarter. Excluding the impact of the tooling project margins and Monterrey commissioning charges, gross margin was 18.6%. This year's gross margins were also pressured by higher raw material input costs, which were offset by favorable fixed operating leverage, operating efficiencies, and a favorable product mix.
• Selling, general, and administrative expenses of $11.8 million, or 13.1% of net revenues, compared to $7.6 million, or 13.0% of net revenues in the prior year third quarter.
  • Third quarter 2026 SG&A expenses included $1.8 million of non-recurring costs associated with the Mexico expansion and footprint optimization costs.
• Operating income of $1.6 million, or 1.8% of net revenues, which includes non-recurring costs above, compared to operating income of $2.6 million, or 4.4% of net revenues for the prior year third quarter.
• Net income of $1.5 million, or $0.17 per diluted share, compared to net income of $1.9 million, or $0.22 per diluted share for the prior year third quarter. Adjusted net income¹ of $2.9 million, or $0.33 per diluted share, compared to $0.24 per diluted share in the prior year period.
• Adjusted EBITDA¹ of $6.4 million, or 7.1% of net revenues, compared to $6.4 million, or 11.0% for the prior year third quarter.
  

Nine-Month 2026 Highlights

• Total net revenues comprised Production revenue of $183.2 million and Tooling Project revenue of $28.4 million.
  • Production revenues increased 3.6% due entirely to the higher demand in power sports and new program launches.
  • Tooling Project revenue of $28.4 million compared to $22.3 million year-over-year is project-based revenue that is necessary ahead of a customer production cycle.
• Gross margin of $38.1 million, or 18.0% of net revenues, compared to 18.2% of net revenues in the prior year nine-month period.
• Selling, general, and administrative expenses of $33.4 million, or 15.8% of net revenues, compared to $25.6 million, or 12.9% of net revenues.
  • 2026 nine-month period SG&A expenses included $6.6 million of non-recurring costs associated with the Mexico expansion, footprint optimization and severance costs.
• Operating income of $4.6 million, or 2.2% of net revenues, which includes non-recurring costs above, compared to operating income of $10.6 million, or 5.3% of net revenues for the prior year nine-month period.
• Net income of $3.9 million, or $0.45 per diluted share, compared to net income of $8.1 million, or $0.93 per diluted share for the prior year nine-month period. Adjusted net income¹ of $9.4 million, or $1.07 per diluted share.
• Adjusted EBITDA¹ of $21.4 million, or 10.1% of net revenue, compared to $23.1 million, or 11.6% for the prior year nine-month period.
  

_{¹Adjusted Net Income and Adjusted EBITDA are non-GAAP financial measures as defined and reconciled}

2026 Capital Expenditures

The Company’s capital expenditures for the first nine months of 2026 were $19.7 million, including $12.2 million related to the Company's Mexico expansion project. For the full year 2026, the Company expects capital spending of approximately $28 to $30 million, including approximately $20 million allocated to the Mexico expansion. The Company generated a Return on Capital Employed¹ of 5.0% for the trailing twelve months and 5.1% excluding cash.

Financial Position at September 30, 2026

The Company’s cash and revolving credit facility balance at September 30, 2026, was $5.4 million and $4.8 million, respectively. On July 2, 2026, the Company entered into the third amendment of its 2022 Credit Agreement. This amendment refinanced the Company's existing term loan and credit facilities. The Company has secured credit facilities in an aggregate principal amount of $100 million, consisting of a $50 million revolving credit facility and a $50 million delayed draw term loan facility at favorable rates compared to the 2022 Credit Agreement.  

Conference Call

The Company will conduct a conference call today at 10:00 a.m. Eastern Time to discuss financial and operating results for the period ending September 30, 2026. To access the call live by phone, dial (844) 881-0134 and ask for the Core Molding Technologies call at least 10 minutes prior to the start time. A telephonic replay will be available through November 10, 2026, by calling (855) 669-9658 and using passcode ID: 1960550#. A webcast of the call will also be available live and for later replay on the Company’s Investor Relations website at www.coremt.com/investor-relations/events-presentations/. 

About Core Molding Technologies, Inc.

Core Molding Technologies is a leading engineered materials company specializing in molded structural products, principally in building products, utilities, transportation and powersports industries across North America. The Company operates in one operating segment as a molder of thermoplastic and thermoset structural products. The Company’s operating segment consists of one reporting unit, Core Molding Technologies. The Company offers customers a wide range of manufacturing processes to fit various program volume and investment requirements. These thermoset processes include compression molding of sheet molding compound (“SMC”), resin transfer molding (“RTM”), liquid molding of dicyclopentadiene (“DCPD”), spray-up and hand-lay-up. The thermoplastic processes include direct long-fiber thermoplastics (“DLFT”) and structural foam and structural web injection molding. Core Molding Technologies serves a wide variety of markets, including the medium and heavy-duty truck, marine, automotive, agriculture, construction, and other commercial products. The demand for Core Molding Technologies’ products is affected by economic conditions in the United States, Mexico, and Canada. Core Molding Technologies’ operations may change proportionately more than revenues from operations.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws that are subject to risks and uncertainties. These statements often include words such as “believe”, “anticipate”, “plan”, “expect”, “intend”, “will”, “should”, “could”, “would”, “project”, “continue”, “likely”, and similar expressions. In particular, this press release may contain forward-looking statements about the Company’s expectations for future periods with respect to its plans to improve financial results, the future of the Company’s end markets. Factors that could cause actual results to differ from those reflected in forward-looking statements relating to our operations and business include: dependence on certain major customers, and potential loss of any major customer due to completion of existing production programs or otherwise; business conditions in the plastics, transportation, power sports, utilities and commercial product industries (including changes in demand for production); the availability and price increases of raw materials; general macroeconomic, social, regulatory and political conditions, including uncertainties surrounding volatility in financial markets; the imposition of new or increased tariffs and the resulting consequences; safety and security conditions in Mexico; costs and other resources related to Core Molding Technologies’ efforts to expand its customer base and grow its business, and provide on-time delivery to customers; the Company’s decision to pursue new products and initiatives to quote and execute manufacturing processes for new business, acquire raw materials, address inflationary pressures, regulatory matters and labor relations; the ability to successfully identify, evaluate and manage potential acquisitions and to benefit from and properly integrate any completed acquisitions; the Company’s financial position or other financial information; inadequate insurance coverage to protect against potential hazards; equipment and machinery failure; product liability and warranty claims; cybersecurity incidents or other similar disruptions; and other risks and uncertainties described in the Company’s filings with the SEC. These statements are based on certain assumptions that the Company has made in light of its experience as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including those included in the Company’s filings with the SEC. There can be no assurance that statements made in this press release relating to future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by such cautionary statements.

Company Contact:
Core Molding Technologies, Inc.
Alex Panda
Executive Vice President & Chief Financial Officer
apanda@coremt.com 

Investor Relations Contact:
Three Part Advisors, LLC
Sandy Martin or Steven Hooser
smartin@threepa.com, shooser@threepa.com 

214-616-2207

- Financial Statements Follow –

Core Molding Technologies, Inc.
Consolidated Statements of Operations
(unaudited, in thousands, except share and per share data)
	Three months ended September								Nine months ended September
	2026				2025				2026				2025
Net revenue:
Production	$	64,827			$	54,178			$	183,179			$	176,823
Tooling Project		25,410				4,257				28,370				22,298
Total net revenue		90,237				58,435				211,549				199,121
Total cost of revenue		76,854				48,290				173,460				162,879
Gross margin		13,383				10,145				38,089				36,242
Selling, general and administrative expense		11,793				7,572				33,440				25,616
Operating income		1,590				2,573				4,649				10,626
Other income and expense
Net interest (income) expense		39				34				185				18
Net periodic post-retirement benefit		(117	)			(117	)			(351	)			(344	)
Total other (income) and expense		(78	)			(83	)			(166	)			(326	)
Income before income taxes		1,668				2,656				4,815				10,952
Income tax expense		155				779				914				2,840
Net income	$	1,513			$	1,877			$	3,901			$	8,112
Net income per common share:
Basic	$	0.18			$	0.22			$	0.45			$	0.95
Diluted	$	0.17			$	0.22			$	0.45			$	0.93

Core Molding Technologies, Inc.
Product Revenue by Market
(unaudited, in thousands)
	Three months ended September 30,						Nine months ended September 30,
	2026			2025			2026			2025
Medium and heavy-duty truck	$	28,191		$	19,470		$	71,898		$	80,276
Power sports		13,555			17,548			49,497			45,962
Building products		6,897			5,862			18,387			16,912
Industrial and utilities		7,111			5,851			18,642			17,095
All other		9,073			5,447			24,755			16,578
Net production revenue	$	64,827		$	54,178		$	183,179		$	176,823

Core Molding Technologies, Inc.
Consolidated Balance Sheets
(in thousands)
	As of
	September 30,				As of
	2026				December 31,
	(unaudited)				2025
Assets:
Current assets:
Cash and cash equivalents	$	5,437			$	38,058
Accounts receivable, net		40,643				30,831
Inventories, net		26,693				19,715
Prepaid expenses and other current assets		24,557				14,724
Total current assets		97,330				103,328
Right of use asset		13,775				14,494
Property, plant and equipment, net		97,121				86,940
Goodwill		17,376				17,376
Intangibles, net		2,793				3,479
Other non-current assets		2,565				2,515
Total Assets	$	230,960			$	228,132
Liabilities and Stockholders' Equity:
Liabilities:
Current liabilities:
Revolving debt	$	4,810			$	—
Current portion of long-term debt						2,075
Accounts payable		29,056				14,924
Contract liabilities		3,231				5,018
Compensation and related benefits		7,871				4,988
Accrued other liabilities		7,316				7,168
Total current liabilities		52,284				34,173
Other non-current liabilities		1,800				1,935
Lease liabilities		12,524				13,113
Long-term debt		—				17,639
Post retirement benefits liability		3,205				3,101
Total Liabilities		69,813				69,961
Stockholders' Equity:
Common stock		86				85
Paid in capital		49,026				47,503
Accumulated other comprehensive income, net of income taxes		2,749				3,938
Treasury stock		(41,178	)			(39,918	)
Retained earnings		150,464				146,563
Total Stockholders' Equity		161,147				158,171
Total Liabilities and Stockholders' Equity	$	230,960			$	228,132

Core Molding Technologies, Inc.
Consolidated Statements of Cash Flows
(unaudited, in thousands)
	Nine months ended September
	2026				2025
Cash flows from operating activities:
Net income	$	3,901			$	8,112
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization		8,743				9,504
Loss on disposal of property, plant and equipment		—				4
Share-based compensation		1,523				1,646
Losses (gain) on foreign currency		(653	)			(285	)
Change in operating assets and liabilities:
Accounts receivable		(9,812	)			(4,759	)
Inventories		(6,978	)			(1,455	)
Prepaid and other assets		(11,039	)			(1,560	)
Accounts payable		15,154				4,060
Accrued and other liabilities		2,865				(744	)
Post retirement benefits liability		(334	)			(357	)
Net cash provided by operating activities		3,370				14,166
Cash flows from investing activities:
Purchase of property, plant and equipment		(19,698	)			(9,305	)
Net cash used in investing activities		(19,698	)			(9,305	)
Cash flows from financing activities:
Gross repayments on revolving line of credit		(18,468	)			—
Gross borrowings on revolving line of credit		23,278				—
Payments for taxes related to net share settlement of equity awards		(612	)			(600	)
Purchase of treasury stock		(648	)			(2,249	)
Payment of principal on term loans		(19,843	)			(1,418	)
Net cash used in financing activities		(16,293	)			(4,267	)
Net change in cash and cash equivalents		(32,621	)			594
Cash and cash equivalents at beginning of period		38,058				41,803
Cash and cash equivalents at end of period	$	5,437			$	42,397
Cash paid for:
Interest	$	492			$	771
Income taxes	$	4,354			$	3,341
Non cash investing activities:
Fixed asset purchases in accounts payable	$	708			$	207

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Core Molding management uses non-GAAP measures in its analysis of the Company's performance. Investors are encouraged to review the reconciliation of non-GAAP financial measures to the comparable GAAP results available in the accompanying tables.

Reconciliation of Non-GAAP Financial Measures

Adjusted EBITDA represents net income before, as applicable from time to time, (i) interest expense, net, (ii) provision (benefit) for income taxes, (iii) depreciation and amortization of long-lived assets, (iv) share based compensation expense, (v) restructuring and severance costs, and (vi) nonrecurring legal settlement costs and associated legal expenses unrelated to the Company's core operations. Debt-to-trailing twelve months adjusted EBITDA represents total outstanding debt divided by trailing twelve months Adjusted EBITDA. Free Cash Flow represents net cash (used in) provided by operating activities less purchase of property, plant and equipment. Trailing twelve months return on capital employed represents the trailing twelve months earnings before (i) interest expense, net and (ii) provision (benefit) for income taxes divided by (i) stockholders' equity and (ii) current and long-term debt. Adjusted Net Income represents net income before severance cost (net of tax).

We present Adjusted EBITDA, Adjusted EBITDA as a percent of net revenue , Free Cash Flow and trailing twelve months Return on Capital Employed because management uses these measures as key performance indicators, and we believe that securities analysts, investors and others use these measures to evaluate companies in our industry. These measures have limitations as analytical tools and should not be considered in isolation or as an alternative to performance measure derived in accordance with GAAP as an indicator of our operating performance. Our calculation of these measures may not be comparable to similarly named measures reported by other companies. The following tables present reconciliations of net income to Adjusted EBITDA, and Cash Flow from Operating Activities to Free Cash Flow, the most directly comparable GAAP measures, and trailing twelve months Return on Capital Employed, for the periods presented:

Core Molding Technologies, Inc.
Net Income to Adjusted EBITDA Reconciliation
(unaudited, in thousands)
	Three months ended September 30,								Nine months ended September 30,
	2026				2025				2026				2025
Net income	$	1,513			$	1,877			$	3,901			$	8,112
Provision for income taxes		155				779				914				2,840
Total other expenses(1)		(78	)			(83	)			(166	)			(326	)
Depreciation and amortization		2,516				3,093				8,614				9,444
Share-based compensation		527				521				1,523				1,646
Severance costs		—				—				1,411				979
Footprint optimization and Mexico Expansion Costs (restructuring)		1,763				220				5,167				420
Adjusted EBITDA	$	6,396			$	6,407			$	21,364			$	23,115
Adjusted EBITDA as a percent of net revenue		7.1	%			11.0	%			10.1	%			11.6	%
(1)Includes net interest expense and non-cash periodic post-retirement benefit cost.

Core Molding Technologies, Inc.
Computation of Debt to Trailing Twelve Months Adjusted EBITDA
(unaudited, in thousands)
		Q4 2025				Q1 2026				Q2 2026				Q3 2026			Trailing Twelve Months
Net income		$	3,083			$	605			$	1,783			$	1,513		$	6,984
Provision for income taxes			642				190				569				155		$	1,556
Total other expenses(1)			(133	)			(31	)			(57	)			(78	)		(299	)
Depreciation and amortization			3,386				3,037				3,061				2,516			12,000
Share-based compensation			142				495				501				527			1,665
Succession plan costs			476				924				487				—			1,887
Footprint optimization and Mexico Expansion Costs (restructuring)		$	—			$	2,102			$	1,302				1,763		$	5,167
Adjusted EBITDA		$	7,596			$	7,322			$	7,646			$	6,396		$	28,960
Total Outstanding Debt as of September 30, 2026																	$	4,810
Debt to Trailing Twelve Months Adjusted EBITDA																		0.17
(1)Includes net interest expense and non-cash periodic post-retirement benefit cost.

Core Molding Technologies, Inc.
Computation of Trailing Twelve Months Return on Capital Employed
(unaudited, in thousands)
		Q4 2025			Q1 2026			Q2 2026			Q3 2026			Trailing Twelve Months
Operating Income		$	3,592		$	764		$	2,295		$	1,590		$	8,241
Equity														$	161,147
Structured Debt														$	4,810
Total Capital Employed														$	165,957
Return on Capital Employed															5.0	%

Core Molding Technologies, Inc.
Computation of Trailing Twelve Months Return on Capital Employed Excluding Cash
(unaudited, in thousands)
		Q4 2025			Q1 2026			Q2 2026			Q3 2026			Trailing Twelve Months
Operating Income		$	3,592		$	764		$	2,295		$	1,590		$	8,241
Equity														$	161,147
Structured Debt														$	4,810
Less Cash														$	(5,437	)
Total Capital Employed, Excluding Cash														$	160,520
Return on Capital Employed, Excluding Cash															5.1	%

Core Molding Technologies, Inc.
Free Cash Flow
Nine Months Ended September 30, 2026 and 2025
(unaudited, in thousands)
	2026				2025
Cash flow provided by operations	$	3,370			$	14,166
Purchase of property, plant and equipment		(19,698	)			(9,305	)
Free cash flow	$	(16,328	)		$	4,861

Core Molding Technologies, Inc.
Adjusted Net Income per Share
(unaudited, in thousands)
	Three months ended September 30,						Nine months ended September 30,
	2026			2025			2026			2025
Net Income	$	1,513		$	1,877		$	3,901		$	8,112
Succession plan costs (net of tax)	$	—					$	1,404		$	773
Mexico expansion and footprint optimization costs (net of tax)	$	1,393		$	174		$	4,072		$	332
Adjusted net income	$	2,906		$	2,051		$	9,377		$	9,217
Weighted average common shares outstanding - basic		8,581,000			8,561,000			8,606,000			8,583,000
Weighted average common and potentially issuable common shares outstanding - diluted		8,727,000			8,688,000			8,758,000			8,709,000
Net income per share - basic	$	0.18		$	0.22		$	0.45		$	0.95
Severance costs (net of tax)		—			—			0.16			0.09
Mexico expansion and footprint optimization costs (net of tax)	$	0.16		$	0.02		$	0.47		$	0.04
Adjusted net income per share - basic	$	0.34		$	0.24		$	1.08		$	1.08
Net income per share - diluted	$	0.17		$	0.22		$	0.45		$	0.93
Severance costs (net of tax)		—			—			0.16			0.09
Footprint optimization costs (net of tax)	$	0.16		$	0.02		$	0.46		$	0.04
Adjusted net income per share - diluted	$	0.33		$	0.24		$	1.07		$	1.06

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Core Molding Technologies' third-quarter 2026 earnings and revenue?

Core Molding Technologies reported $90.237 million in revenue and net income of $1.5 million, or $0.17 per diluted share. Revenue increased 54.4% year-over-year, while net income declined from $1.9 million, or $0.22 per diluted share.

What is Core Molding Technologies' full-year 2026 outlook?

Core continues to expect full-year net sales to be flat to up approximately 5%, with gross margins of 16% to 17%. The company expects capital spending of approximately $28 million to $30 million, including approximately $20 million allocated to its Mexico expansion.

How did Core Molding Technologies refinance its credit facilities in 2026?

Core refinanced its existing term loan and credit facilities through a July 2, 2026 amendment to its 2022 Credit Agreement. The facilities total $100 million, comprising a $50 million revolving credit facility and a $50 million delayed draw term loan facility. The company described the rates as favorable compared with the 2022 agreement.

What was Core Molding Technologies' third-quarter margin excluding tooling mix and Monterrey commissioning charges?

Gross margin was 18.6% excluding tooling project margin effects and Monterrey commissioning charges, compared with the reported margin of 14.8%. Higher raw material input costs also pressured margins, offset by favorable fixed operating leverage, operating efficiencies and product mix.