Core Molding Technologies, Inc. - CMT STOCK NEWS

Core Molding Technologies (NYSE American: CMT) announces the planned transition of CFO John Zimmer, who will depart on May 31, 2025. Alex J. Panda, a 10-year company veteran, will assume the CFO role effective June 1, 2025. Zimmer will continue serving in an advisory capacity to ensure a smooth transition and evaluate potential acquisitions. Panda, who joined in 2014, has held various leadership positions within Accounting and Finance, including VP and Corporate Controller. He played a key role in the company's 2019-2020 turnaround, helped complete two acquisitions, and oversaw international tax strategy implementation.

Core Molding Technologies reported Q3 2024 financial results with net sales of $73.0 million, down 15.8% year-over-year. Net income was $3.2 million ($0.36 per diluted share), compared to $4.4 million ($0.49 per diluted share) in Q3 2023. Gross margin was 16.9% versus 17.6% in the prior year quarter. The company implemented a labor reduction expected to generate $2.6 million in annual cost savings. For the first nine months of 2024, total net sales were $239.9 million, down 15.5% year-over-year, with net income of $13.3 million ($1.51 per diluted share). The company maintains strong liquidity of $92.3 million and expects full-year 2024 revenues to decline approximately 17%.

Core Molding Technologies has appointed Alex Bantz as Chief Commercial Officer, effective immediately. This newly created position aims to accelerate revenue growth initiatives and advance the company's Invest for Growth strategy. Bantz brings over 25 years of sales and operational experience, most recently serving as Vice President of Sales and Marketing at Milsco Manufacturing from 2018 to 2024. His previous roles include positions at Veyance Technologies, Goodyear Tire and Rubber Company, and Hendrickson. Bantz holds a BS in Mechanical Engineering from Ohio State University.

Core Molding Technologies (NYSE American: CMT), a leading engineered materials company specializing in molded structural products, has announced the timing for its third quarter fiscal year 2024 results. The company will release its financial results on Tuesday, November 5, 2024, before the market opens. Following the release, Core Molding will host a conference call at 10:00am Eastern on the same day.

Investors can participate in the call by phone or webcast. To join by phone, dial 1-844-881-0134 at least 10 minutes before the call starts. A replay will be available until November 12th by dialing 1-877-344-7529 and using the conference ID: 5291745#. For the webcast, connect via the Events and Presentations page on Core Molding's Investor Relations website.

Core Molding Technologies (NYSE American: CMT), a leading engineered materials company, will participate in the 15th Annual Midwest IDEAS Conference on August 28, 2024 in Chicago. David Duvall, President and CEO, and John Zimmer, EVP and CFO, will represent the company.

Key points:

• Core Molding will host one-on-one investor meetings throughout the day
• Their presentation is scheduled for 10:45-11:20 AM CT
• The presentation will be webcast live and accessible through the company's investor relations website
• A replay will be available after the presentation

Investors interested in scheduling a one-on-one meeting can contact the Three Part Advisors conference team at (817) 769-2373 or lwesley@IDEASconferences.com.

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.