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Core Molding Technologies, Inc. (CMT) is a leading manufacturer and molder of sheet molding compounds (SMC) and fiberglass reinforced plastics. The company specializes in large-format moldings and employs various fiberglass processes, including compression molding of SMC, glass mat thermoplastics (GMT), and bulk molding compounds (BMC). Other techniques include spray-up, lay-up, resin transfer molding (RTM), and vacuum resin transfer molding (V-RTM). Additionally, Core offers liquid molding of dicyclopentadiene (DCPD).
Headquartered in Columbus, Ohio, Core Molding Technologies maintains operations in multiple locations, including Batavia, Ohio; Gaffney, South Carolina; Matamoros and Escobedo, Mexico; and Cobourg, Ontario, Canada. The company serves a diverse range of markets such as medium and heavy-duty trucks, marine, automotive, and various other commercial sectors.
Core Molding Technologies operates within the engineered materials market, focusing on thermoplastic and thermoset structural products. Its molded products are used in several industries, including medium and heavy-duty trucks, automobiles, power sports, construction and agriculture, building products, and other industrial markets. The company utilizes a comprehensive array of processes, which also includes direct long-fiber thermoplastics (D-LFT) and structural foam and web injection molding (SIM).
Recent achievements for Core Molding Technologies include strategic initiatives that have driven higher returns and generated strong cash flow throughout 2023. The firm also has a significant focus on continuous improvement in its financial condition, evidenced by its latest conference call highlighting non-GAAP financial measures such as adjusted EBITDA and return on capital employed.
Strategic partnerships and innovations in manufacturing processes help Core Molding Technologies stay competitive in a rapidly evolving market. For more detailed information about their services and latest updates, visit their website at www.coremt.com.
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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