[Part I — Financial Information](index=2&type=section&id=Part%20I%20%E2%80%94%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The financial statements for Q2 2020 show a net sales decline and net loss, while the six-month period achieved net income due to a tax benefit, with improved operating cash flow despite balance sheet stress [Consolidated Statements of Income (Loss)](index=3&type=section&id=Consolidated%20Statements%20of%20Income%20%28Loss%29) Q2 2020 net sales declined 53.5% to $37.8 million, resulting in a net loss, while the six-month period achieved net income of $5.7 million due to a tax benefit Consolidated Statements of Income (Loss) | Financial Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $37,806,000 | $81,247,000 | $101,830,000 | $153,513,000 | | **Gross margin** | $2,903,000 | $8,491,000 | $13,669,000 | $11,641,000 | | **Operating income (loss)** | $(1,206,000) | $1,267,000 | $3,055,000 | $(2,749,000) | | **Net income (loss)** | $(2,272,000) | $209,000 | $5,689,000 | $(3,636,000) | | **Diluted EPS** | $(0.29) | $0.03 | $0.67 | $(0.47) | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to $165.1 million as of June 30, 2020, with significant long-term debt reclassified as current, leading to negative working capital Consolidated Balance Sheets | Balance Sheet Item | June 30, 2020 (Unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Total current assets** | $51,529,000 | $61,225,000 | | **Total Assets** | $165,118,000 | $179,306,000 | | **Total current liabilities** | $63,874,000 | $83,834,000 | | **Total Liabilities** | $75,666,000 | $94,880,000 | | **Total Stockholders' Equity** | $89,452,000 | $84,426,000 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations significantly increased to $18.5 million for H1 2020 due to working capital management, while investing and financing activities used cash Consolidated Statements of Cash Flows | Cash Flow Activity | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $18,483,000 | $3,297,000 | | **Net cash used in investing activities** | $(1,644,000) | $(5,201,000) | | **Net cash provided by (used in) financing activities** | $(14,091,000) | $546,000 | | **Net change in cash and cash equivalents** | $2,748,000 | $(1,358,000) | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes highlight a going concern warning due to debt covenant violations, reliance on key customers, and a significant tax benefit from the CARES Act - The company's non-compliance with leverage and fixed charge coverage ratios under its credit agreement raises **substantial doubt** about its ability to continue as a going concern, operating under a **forbearance agreement** while seeking to refinance its debt[28](index=28&type=chunk)[34](index=34&type=chunk) - The company received **$1.4 million** in government subsidies during the quarter, recorded as a reduction in SG&A expenses[54](index=54&type=chunk) - The CARES Act allowed the company to carry back net operating losses, resulting in an **income tax refund of $6.155 million** and a recognized **income tax benefit of $5.638 million** in the first quarter of 2020[97](index=97&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 53.5% Q2 2020 sales decline to market downturns and COVID-19, while highlighting improved H1 operating income and ongoing debt refinancing efforts due to covenant violations - Product sales for H1 2020 **decreased 33% YoY**, driven by a cyclical downturn in the truck market and COVID-19, with sales to truck customers specifically **decreased by 53%**[129](index=129&type=chunk)[130](index=130&type=chunk) - Despite lower sales, operating income for H1 2020 was **$3.1 million**, a significant improvement from a **loss of $2.7 million** in H1 2019, attributed to improved manufacturing efficiencies, cost savings, and lower SG&A costs[129](index=129&type=chunk) - As of June 30, 2020, the company was **not in compliance** with its **fixed charge coverage ratio (0.75 vs. 1.15 minimum)** and **leverage ratio (3.52 vs. 3.25 maximum)** covenants, triggering a default[155](index=155&type=chunk)[158](index=158&type=chunk) - The company entered into a **Second Amended Forbearance Agreement** with lenders, extending through September 30, 2020, and is actively seeking to **refinance its existing debt**[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risks include commodity price volatility for raw materials, interest rate fluctuations on variable debt, and foreign currency exchange rate changes - The company is exposed to market risks from: (1) **variable interest rates** on its term loans, (2) **foreign currency fluctuations** (Mexican Peso and Canadian Dollar), and (3) **commodity price volatility** for raw materials such as resins and fiberglass[173](index=173&type=chunk)[174](index=174&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of June 30, 2020 - Management, including the Chief Executive Officer and Chief Financial Officer, concluded that the company's disclosure controls and procedures were **effective** as of the end of the period covered by the report[179](index=179&type=chunk) [Part II — Other Information](index=34&type=section&id=Part%20II%20%E2%80%94%20Other%20Information) [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings expected to have a material adverse effect on its financial position or operations - The Company is **not presently involved** in any legal proceedings likely to have a **material adverse effect** on its financial condition or operations[182](index=182&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor addresses the significant and uncertain adverse impact of the COVID-19 pandemic on the company's business, operations, and liquidity - A new risk factor was added to disclose the **adverse impact of the COVID-19 pandemic** on the business, including negative effects on customer demand, manufacturing operations, and supply chains[184](index=184&type=chunk)[185](index=185&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - **None reported**[186](index=186&type=chunk) [Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section refers to the Index to Exhibits for a list of documents filed with the report

[Part I — Financial Information](index=2&type=section&id=Part%20I%20%E2%80%94%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Q1 2020 financials show a return to profitability via a tax benefit, despite a working capital deficit from debt covenant breaches [Consolidated Statements of Income (Loss)](index=3&type=section&id=Consolidated%20Statements%20of%20Income%20(Loss)) Q1 2020 vs Q1 2019 Income Statement Highlights | Metric | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | **Net sales** | $64,023,000 | $72,266,000 | | **Gross margin** | $10,766,000 | $3,149,000 | | **Operating income (loss)** | $4,261,000 | $(4,017,000) | | **Net income (loss)** | $7,961,000 | $(3,845,000) | | **Diluted net income (loss) per share** | $0.97 | $(0.49) | - The company shifted from an operating loss to an **operating profit in Q1 2020** despite an **11.4% decrease in net sales**, driven by a substantial **$4.9M income tax benefit**[7](index=7&type=chunk)[10](index=10&type=chunk) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Balance Sheet Summary | Metric | March 31, 2020 (Unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Total current assets** | $59,105,000 | $61,225,000 | | **Total assets** | $174,716,000 | $179,306,000 | | **Total current liabilities** | $72,455,000 | $83,834,000 | | **Total liabilities** | $83,994,000 | $94,880,000 | | **Total stockholders' equity** | $90,722,000 | $84,426,000 | - As of March 31, 2020, the company had a **working capital deficit of $13.4M**, as **$44.2M in long-term debt was reclassified as current** due to covenant violations[19](index=19&type=chunk)[35](index=35&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2020 vs Q1 2019 Cash Flow Summary | Metric | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $5,379,000 | $2,885,000 | | **Net cash used in investing activities** | $(456,000) | $(3,404,000) | | **Net cash used in financing activities** | $(5,357,000) | $(582,000) | - **Cash from operations improved** year-over-year, while cash used in investing decreased and cash used in financing increased due to net debt repayments[26](index=26&type=chunk) [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - A **"Going Concern" uncertainty** exists due to non-compliance with debt covenants, resulting in **$44.9M of debt being classified as a current liability**[32](index=32&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk) - The company is operating under an **Amended Forbearance Agreement** extended through May 29, 2020, with refinancing efforts delayed by the COVID-19 pandemic[35](index=35&type=chunk)[38](index=38&type=chunk)[89](index=89&type=chunk) - The CARES Act provided a significant benefit, resulting in a **$6.2M income tax receivable** and a **$5.6M recognized income tax benefit** for the quarter[101](index=101&type=chunk)[103](index=103&type=chunk) Sales to Major Customers (Q1 2020 vs Q1 2019) | Customer | Q1 2020 Sales | Q1 2019 Sales | Change | | :--- | :--- | :--- | :--- | | **Navistar** | $10,765,000 | $14,292,000 | -24.7% | | **Volvo** | $9,098,000 | $14,622,000 | -37.8% | | **UFP** | $8,987,000 | $6,121,000 | +46.8% | | **PACCAR** | $8,156,000 | $11,985,000 | -31.9% | | **BRP** | $7,467,000 | $5,638,000 | +32.4% | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the Q1 2020 operational turnaround to manufacturing efficiencies despite lower sales, while highlighting liquidity challenges from debt covenant breaches [Results of Operations](index=26&type=section&id=Results%20of%20Operations) - Q1 2020 product sales **decreased 13%** year-over-year, driven by a **34% decline in sales to truck customers**[136](index=136&type=chunk)[137](index=137&type=chunk) - **Gross margin improved to 17%** from 4% in Q1 2019, driven by favorable product mix, manufacturing efficiency, and better pricing[141](index=141&type=chunk) - **SG&A expenses decreased to $6.5M** from $7.2M in the prior year due to lower professional fees[142](index=142&type=chunk) - Net income was favorably impacted by **$5.6M ($0.69 per share)** from a tax benefit related to the CARES Act[138](index=138&type=chunk)[144](index=144&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) - As of March 31, 2020, the company was **not in compliance with its Fixed Charge Coverage and Leverage Ratio covenants**[153](index=153&type=chunk) - Due to the covenant default, the entire **$44.9M debt balance was classified as a current liability**, causing a **$13.4M working capital deficit**[163](index=163&type=chunk) - The company is operating under an **Amended Forbearance Agreement** extended to May 29, 2020, while negotiating a further extension[159](index=159&type=chunk)[160](index=160&type=chunk)[161](index=161&type=chunk) - At quarter-end, the company had **$1.4M in cash** and **$12.2M available on its revolving line of credit**[150](index=150&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks include commodity prices, interest rates on variable-rate debt, and foreign currency fluctuations - The company is exposed to market risk from variable interest rates, foreign currency exchange rates, and commodity prices for raw materials[169](index=169&type=chunk)[170](index=170&type=chunk) [Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2020 - Management concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[175](index=175&type=chunk) [Part II — Other Information](index=32&type=section&id=Part%20II%20%E2%80%94%20Other%20Information) [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any legal proceedings expected to have a material adverse effect on its financials - The company is not presently involved in any legal proceedings likely to have a material adverse effect on its financial condition or operations[178](index=178&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor was added regarding the significant uncertainty and potential adverse impacts of the COVID-19 pandemic - A new risk factor addresses the **highly uncertain adverse impact of the COVID-19 pandemic** on the business, operations, and financial condition[179](index=179&type=chunk)[180](index=180&type=chunk) - The pandemic has negatively impacted product demand and could disrupt manufacturing, supply chains, and access to financing[181](index=181&type=chunk) [Other Items (Items 2, 3, 4, 5, 6)](index=32&type=section&id=Other%20Items) This section confirms no reportable events occurred under several items, including unregistered sales of equity or defaults - The company reported no activity for Unregistered Sales of Equity Securities, Defaults Upon Senior Securities, or Mine Safety Disclosures[182](index=182&type=chunk)

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, 2019 OR o 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 charte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR o 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 | --- | --- | |-----------------------------------------------------------------------|------------------------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR o 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. | --- | --- | |-----------------------------------------------------------------------|--------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o 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. | --- | --- | |-----------------------------------------------------------------------|-------------- ...

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, 2018 OR o 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 charte ...