FOR IMMEDIATE RELEASE
Core Molding Technologies Reports Fiscal 2026 Third Quarter Results
Product Revenue Grows 19.7%; Mexico Expansion and Footprint Optimization Position Company for Further End-Market Diversification and Growth
COLUMBUS, OH, November 3, 2026 – 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 30, | | Nine months ended September 30, | | |
| 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 30, |
| 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 | |
