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Core Molding Technologies, Inc. (CMT) reports developments in engineered materials and molded structural products for building products, industrial and utilities, medium- and heavy-duty truck, transportation, and powersports markets across North America.
Recurring news covers quarterly and annual results, business wins, end-market demand cycles, tooling revenue, margin performance, Mexico capacity investments, customer program launches, investor presentations, and capital actions such as stock repurchase authorizations. Company updates also reference molding processes including sheet molding compound, DCPD molding, thermoplastics, structural foam, and related composite manufacturing capabilities.
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Core Molding Technologies, Inc. (NYSE American: CMT) has announced its plan to release first quarter fiscal 2023 results on May 9, 2023, prior to market opening. The company specializes in molded structural products for various industries, including building products, transportation, and powersports across North America. A conference call is scheduled for the same day at 10:00 AM Eastern, accessible via phone or webcast. Investors can expect insights into the company's performance and market position. The demand for Core's products is influenced by economic conditions within the U.S., Mexico, and Canada. Notably, the company operates in one segment focusing on diverse manufacturing processes, catering to markets including automotive and construction.
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Core Molding Technologies (CMT) reported record fiscal year 2022 results, achieving net sales of $377.4 million, up 22.7% from the prior year. The fourth quarter net sales reached $86.4 million, an 18.1% increase. Gross margin improved, with $52.4 million for the year and $11.5 million for Q4. Net income for 2022 was $12.2 million, or $1.44 per diluted share, compared to $4.7 million the previous year. Adjusted EBITDA rose to $31.9 million, representing 8.5% of net sales. CMT plans to invest $13 million in capital expenditures for 2023 and aims for long-term sales of $500 million while focusing on operational efficiency.