COLUMBUS, Ohio., April 28, 2025 (GLOBE NEWSWIRE) -- 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 building products, utilities, transportation and powersports industries across North America, today announces that it will release its first quarter fiscal 2025 results on Thursday, May 8, 2025, before the market opens. In conjunction with the release, the Company h ...

Financial Data and Key Metrics Changes - For fiscal 2024, net sales were $302 million, down 15.5% due to lower demand across end markets [21][22] - Gross profit margin was 17.6%, within the long-term target range of 17% to 19% [22] - Adjusted EBITDA for the year was $33.8 million, or 11.2% of sales [22] - Record cash flow from operations reached $35 million, translating to free cash flow of $23.6 million [23][29] - The company reported a slight net loss of $39,000 for the fourth quarter compared to net income of $2.2 million in the prior year [28] Business Line Data and Key Metrics Changes - The company won $45 million in new business in 2024, with nearly all launching in 2025 [19] - The fourth-quarter sales were $62.5 million, down 15.3% primarily due to declines in the truck and tire sports market [23] - Demand in end markets such as industrials, utility, and building products grew compared to the prior year quarter [24] Market Data and Key Metrics Changes - The truck market is experiencing a cyclical downturn, with expectations for a cyclical upturn in the second half of 2025 [21] - The company anticipates a revenue decline of approximately $30 million due to the Volvo transition in 2025 [32] Company Strategy and Development Direction - The company is focused on driving organic and inorganic growth, with an emphasis on acquisitions [12][30] - Investment in top coat paint capabilities at the Matamoros facility aligns with growth in construction equipment and agricultural markets [13] - The three growth pillars include wallet share growth, sales diversification, and growth through acquisition [30][42] Management Comments on Operating Environment and Future Outlook - Management acknowledges the uncertainty in the macro environment and customer decision-making due to tariffs [64][65] - The company expects to offset the Volvo impact through higher tooling sales and new program launches [32][33] - Management remains confident in maintaining gross margins between 17% and 19% despite changes in revenue mix [33][79] Other Important Information - The company repurchased approximately 172,000 shares at an average price of $17.09 per share [32] - Total outstanding liquidity was $91.8 million, including $41.8 million in cash [29] Q&A Session Summary Question: What is the current visibility from customers regarding the full-year outlook? - Management noted that there is a lot of waiting from customers due to uncertainty around tariffs and decision-making processes [64][65] Question: How are tariffs impacting the company? - The company has set up processes to pass through costs to customers and has communicated these changes effectively [70][71] Question: What is the expected impact of the Volvo transition on margins? - The Volvo business was not the highest margin business, so its exit may help overall margins despite hurting top-line revenue [76][78] Question: How much tooling revenue is expected this year? - Tooling revenue is anticipated to be in the $30 to $40 million range, indicating strong future business [84] Question: How does the company view share repurchases versus acquisitions? - Management believes in balancing capital allocation between share repurchases and acquisitions for long-term growth [93][95]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________to___________ Commission file number 001-12505 CORE MOLDING TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) | ...

Core Molding Technologies, Inc. (NYSE:CMT) Q4 2024 Results Conference Call March 11, 2025 10:00 AM ET Company Participants Sandy Martin - Three Part Advisors Dave Duvall - President and Chief Executive Officer John Zimmer - Chief Financial Officer Conference Call Participants Chip Moore - Roth MKM Bill Dezellem - Tieton Capital Operator Good morning, everyone. Welcome to the Core Molding Technologies Fourth Quarter and Full Year Fiscal 2024 Financial Results Conference Call. All participants will be in a li ...

Financial Performance - Net sales for fiscal year 2024 were $302.4 million, a decrease of 15.5% from $357.7 million in the prior year, primarily due to lower demand across significant markets [4]. - Gross margin for the year was $53.3 million, or 17.6% of net sales, compared to $64.5 million, or 18.0% of net sales, in the prior year [4]. - Adjusted EBITDA for the year was $33.8 million, representing 11.2% of net sales, down from $42.9 million, or 12.0% of net sales, in the prior year [4]. - Net income for the year was $13.3 million, or $1.51 per diluted share, down from $20.3 million, or $2.31 per diluted share, in the prior year [4]. - Adjusted EBITDA for the year ended December 31, 2024, was $33,802, down 21.2% from $42,861 in 2023 [23]. - The company reported a net income of $13,299 for the year, a decline of 34.6% from $20,324 in 2023 [21]. - Adjusted net income per share for the year was $1.65, down from $2.42 in 2023, a decrease of 31.9% [31]. Cash Flow and Liquidity - The company achieved record operational cash flow of $35 million in 2024 [5]. - Total liquidity at year-end was $91.8 million, with $41.8 million in cash and a Debt to Trailing Twelve Months Adjusted EBITDA ratio of 0.64 times [9]. - Cash and cash equivalents increased to $41,803 at the end of 2024, compared to $24,104 at the end of 2023, representing a growth of 73.3% [19]. - Free cash flow surplus for the year was $23,626, compared to $25,742 in 2023, reflecting a decrease of 8.2% [29]. Expenses and Liabilities - Selling, general and administrative expenses for the year were $36.6 million, or 12.1% of net sales, compared to $38.0 million, or 10.6% of net sales, in the prior year [4]. - Total liabilities decreased to $62,189 in 2024 from $74,424 in 2023, a reduction of 16.4% [19]. Market Outlook and Future Plans - The company plans capital expenditures of approximately $10 to $12 million for 2025 to meet current demand and allow for expansion [8]. - The sales opportunity pipeline is currently valued at $275 million, indicating potential growth [6]. - The company expects flat sales for 2025, impacted by the phase-out of approximately $30 million of Volvo programs, but anticipates a truck cycle upturn starting in the second half of 2025 [7]. Segment Performance - Net product revenue for the year ended December 31, 2024, was $291,092, a decrease of 16.2% from $347,375 in 2023 [17]. - The medium and heavy-duty truck segment generated $163,915 in revenue for the year, down 9.6% from $181,376 in 2023 [17]. Return Metrics - Return on capital employed (ROCE) for 2024 was 9.9%, down from 16.4% in 2023 [27]. - The weighted average common shares outstanding for the year was 8,693,000, compared to 8,550,000 in 2023 [31].

Core Insights - Core Molding Technologies, Inc. reported a successful fiscal year 2024, achieving record operational cash flow of $35 million despite a 15.5% decline in net sales to $302.4 million due to lower customer demand across significant markets [5][6][8] - The company focused on improving operational efficiencies and cost reductions, resulting in a gross margin of 17.6% and a return on capital employed (ROCE) of 9.9% for the year [5][6][10] - The company plans to continue its "Invest For Growth" strategy in 2025, aiming to enhance sales and marketing efforts, diversify its business, and pursue strategic acquisitions [7][8] Fiscal Year 2024 Highlights - Net sales decreased by 15.5% from $357.7 million to $302.4 million, with product sales down 16.2% [6] - Gross margin fell to $53.3 million (17.6% of net sales) from $64.5 million (18.0% of net sales) in the prior year [6] - Operating income decreased to $16.7 million (5.5% of net sales) from $26.5 million (7.4% of net sales) [6] - Net income was $13.3 million ($1.51 per diluted share), down from $20.3 million ($2.31 per diluted share) a year ago [6] Fourth Quarter 2024 Highlights - Net sales for Q4 were $62.5 million, down 15.3% from $73.8 million in the prior year [6] - Product sales in Q4 were $60.0 million, a decrease of 17.1% [6] - The company reported a net loss of $39 thousand for Q4, compared to a net income of $2.2 million in the same period last year [6] Financial Position - Total liquidity at year-end was $91.8 million, with $41.8 million in cash and $25 million of undrawn capacity under credit facilities [10] - The company's debt to trailing twelve months adjusted EBITDA ratio was 0.64 times, indicating a strong financial position [10][28] - Capital expenditures for 2024 were $11.5 million, with plans for 2025 expenditures of approximately $10 to $12 million [9] Strategic Initiatives - The company secured $45 million in new revenue wins in 2024 and aims to ramp up its sales and marketing efforts in 2025 [7] - Core Molding's strategy includes growing wallet share with existing customers, diversifying into new markets, and pursuing mergers and acquisitions [7] - The sales opportunity pipeline is currently valued at $275 million, indicating potential for future growth [7]

Group 1 - Core Molding Technologies, Inc. is a leading engineered materials company specializing in molded structural products across various industries including building products, industrial utilities, medium and heavy-duty trucks, and powersports in North America [1][3] - The company will participate in the 37th Annual Roth Conference from March 16-18, 2025, at the Laguna Cliffs Marriott in Dana Point, California [1] - Management will host one-on-one investor meetings during the event, providing an opportunity for investors to engage directly [2] Group 2 - Core Molding operates in one segment as a molder of thermoplastic and thermoset structural products, offering a variety of manufacturing processes such as compression molding, resin transfer molding, and structural foam injection molding [3] - The company serves diverse markets including medium and heavy-duty trucks, marine, automotive, agriculture, and construction, with demand influenced by economic conditions in the U.S., Mexico, and Canada [3]

Group 1 - Core Molding Technologies, Inc. will release its fourth quarter and fiscal year 2024 results on March 11, 2025, before the market opens [1] - A conference call will be held on the same day at 10:00 am Eastern, which will be broadcast live over the internet [1] - Core Molding specializes in molded structural products for various industries including building products, utilities, transportation, and powersports across North America [2] Group 2 - The company operates in one segment as a molder of thermoplastic and thermoset structural products [2] - Core Molding offers a variety of manufacturing processes such as compression molding, resin transfer molding, and structural foam injection molding [2] - The demand for Core Molding's products is influenced by economic conditions in the United States, Mexico, and Canada [2]

Core Viewpoint - Western Union reported mixed fourth-quarter 2024 results, with adjusted EPS missing estimates but showing year-over-year improvement, while total revenues slightly increased and surpassed expectations [1][2]. Financial Performance - Adjusted EPS for Q4 2024 was 40 cents, missing the Zacks Consensus Estimate by 4.8%, but improved 8.1% year over year [1]. - Total revenues reached $1.1 billion, a 1% increase year over year, exceeding the Zacks Consensus Estimate by 3.1% [2]. - Adjusted operating margin improved by 100 basis points to 17%, driven by marketing and technology efficiencies [4]. - Total expenses decreased by 1% year over year to $880.1 million, although this was higher than the estimate of $822.5 million [4]. Segment Analysis - Consumer Money Transfer (CMT) segment revenues fell by 4% to $938.8 million but exceeded estimates [5]. - CMT operating income rose 14% year over year to $170 million, though it fell short of estimates [5]. - Consumer Services (CS) unit revenues surged 56% to $119.4 million, significantly surpassing estimates, driven by new business initiatives [7]. Cash Flow and Financial Position - Cash and cash equivalents stood at $1.5 billion, a 16.2% increase from the end of 2023 [9]. - Net cash from operations was $406.3 million, a decline of 48.1% from the previous year [10]. - Total stockholders' equity more than doubled to $968.9 million compared to the end of 2023 [9]. Capital Deployment - Western Union returned $318 million to shareholders through dividends and $177 million through share buybacks in 2024 [11]. 2025 Outlook - Management projects adjusted revenues between $4.115 billion and $4.215 billion, indicating a potential decline from 2024 [12]. - Adjusted EPS is expected to range from $1.75 to $1.85, suggesting a 3.4% improvement from 2024 [12]. - GAAP EPS is forecasted to decline by 42% from 2024 levels, with an expected range of $1.54 to $1.64 [12].

Core Molding Technologies Overview - Core Molding Technologies, Inc. is a leading engineered materials company specializing in molded structural products across various industries including building products, industrial utilities, medium and heavy-duty trucks, and powersports in North America [3] - The company operates in one segment as a molder of thermoplastic and thermoset structural products, offering a wide range of manufacturing processes such as compression molding, resin transfer molding, and structural foam injection molding [3] Upcoming Conference Participation - Core Molding's President and CEO David Duvall, along with EVP and CFO John Zimmer, will participate in the 16th Annual Southwest IDEAS Conference in Dallas on November 21, 2024 [1] - The company will host one-on-one investor meetings throughout the day, with a presentation scheduled from 4:10 to 4:45 PM CT, which will be webcast live [2] Market Demand and Economic Impact - The demand for Core Molding's products is influenced by economic conditions in the United States, Mexico, and Canada, indicating a sensitivity to regional economic fluctuations [3] - The company's operations may experience changes that are proportionately more significant than revenue changes, highlighting potential operational leverage [3]