Welcome to our dedicated page for Core Molding news (Ticker: CMT), a resource for investors and traders seeking the latest updates and insights on Core Molding stock.
Core Molding Technologies, Inc. (NYSE American: CMT) is an engineered materials company that focuses on thermoplastic and thermoset molded structural products for customers across North America. The news and press releases associated with CMT highlight its activity in markets such as medium and heavy-duty trucks, powersports, building products, industrial and utilities, marine, automotive, agriculture, construction, and other commercial products.
News about Core Molding Technologies frequently covers quarterly and annual financial results, where the company reports net sales, gross margin, operating income, net income, and non-GAAP measures such as Adjusted EBITDA and Adjusted Net Income. These updates often include commentary from management on demand trends in truck and powersports markets, the mix between product and tooling sales, and the impact of economic conditions in the United States, Mexico, and Canada.
Another recurring theme in CMT news is its "Invest for Growth" strategy, including announcements of new business wins, program launches across building products, transportation (including EV-related transportation), aerospace, and powersports, and capital investments in facilities such as plant expansions and new greenfield projects in Mexico. Press releases have described investments to support major truck customers and to add DCPD molding and paint capabilities closer to key customer locations.
Investors following CMT news will also see leadership and governance updates, including the planned retirement of the current President and Chief Executive Officer and the scheduled transition of the Chief Operating Officer into the CEO role as part of a long-term succession plan. In addition, the company regularly announces participation in investor conferences, where its management team presents and hosts one-on-one meetings with investors and analysts.
For those tracking CMT, the news flow provides insight into operational performance, capital allocation priorities such as share repurchases and capital expenditures, strategic initiatives in new markets, and the company’s view of demand conditions across its North American end markets.
Core Molding Technologies (NYSE American: CMT) reported its fiscal 2024 second quarter results. Net sales decreased 9.2% to $88.7 million compared to the prior year quarter. Gross margin was 20.0% of net sales, down from 21.0% in the previous year. Net income was $6.4 million, or $0.73 per diluted share, compared to $7.9 million, or $0.91 per diluted share in Q2 2023.
For the first six months of 2024, total net sales decreased 15.4% to $166.9 million. The company maintained a strong liquidity position with $87.8 million available at the end of Q2. Despite challenging economic conditions, Core Molding is focusing on growth initiatives and operational performance, with a robust opportunity pipeline of $250 million and new business wins totaling $42 million.
Core Molding Technologies (NYSE American: CMT), a leading engineered materials company specializing in molded structural products, has announced the timing for its second quarter fiscal year 2024 results release. The company will unveil its financial results on Tuesday, August 6, 2024, before the market opens.
Following the release, Core Molding will host a conference call and webcast at 10:00 am Eastern on the same day. Investors can access the call by dialing 1-844-881-0134 or connecting via the company's Investor Relations website. A replay of the call will be available until August 13th by dialing 1-877-344-7529 with the conference ID: 3909303#.
Core Molding Technologies (NYSE American: CMT), a leading engineered materials company, announced its participation in the 14th Annual East Coast IDEAS Conference on June 13, 2024. The event will take place at the Jay Conference Center in New York City. President and CEO David Duvall and EVP and CFO John Zimmer will present from 2:00-2:35 PM ET and host one-on-one investor meetings throughout the day. The presentation will be webcast live and available for replay on the company's investor relations website. For one-on-one meetings, contact the Three Part Advisors conference team.
Core Molding Technologies, Inc. (NYSE American: CMT) will participate in the EF Hutton Annual Global Conference in NYC on May 15, 2024. The company specializes in molded structural products for various industries. David Duvall, President and CEO, and John Zimmer, EVP and CFO, will represent Core Molding at the conference.
Core Molding Technologies, a leading engineered materials company, reported a decrease in total net sales by 21.5% in the first quarter of fiscal 2024 compared to the prior year. Despite this, the company saw a sequential improvement in net sales by 5.9%. Gross margin decreased to 17.0% of net sales, while operating income and net income also declined compared to the previous year. Adjusted EBITDA decreased to 11.2% of net sales, although it improved sequentially. The company's President highlighted operational improvements and market-based pricing. The CFO anticipates a full-year sales decrease of 10% to 15% compared to 2023.
Core Molding Technologies, Inc. (NYSE American: CMT) announced the release of its second annual Sustainability Report focusing on its ESG approach and strategies. The report highlights achievements in 2023 and progress on energy consumption, greenhouse gas emissions, and landfill waste reduction goals. The Company aims to reduce these by 30% by the end of fiscal 2030. Core's President emphasized the commitment to environmental stewardship, diversity, and corporate governance for long-term shareholder value. The Sustainability Leader highlighted improvements in GHG emissions, electricity usage, and waste management KPIs.
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