Core Molding Technologies(US:CMT)2026-03-10 12:03Sales Performance - Fourth quarter total sales increased by 19.5% to $74.7 million, driven by elevated tooling revenue[3] - Full year business wins amounted to $63 million, with over 65% of these wins coming from markets outside the Truck and Powersports sectors[2] - The company anticipates total sales for 2026 to be flat to up approximately 5% compared to 2025, driven by SMC compound wins[2] Financial Results - Fiscal 2025 revenues declined by 9.5% to $273.8 million, primarily due to weakness in the Truck sector, which represents 44% of product sales[7] - Gross margin for fiscal 2025 was 17.4%, reflecting stability despite lower volumes[7] - Operating income for the fourth quarter was $3.6 million, or 4.8% of net sales, compared to $0.9 million, or 1.4% of net sales, in the prior year[3] - Net income for fiscal 2025 was $3.1 million, or $0.36 per diluted share, compared to a net loss of $39,000 in the prior year[7] - Net income for 2025 was $11,195 million, a decrease of 15.8% compared to $13,299 million in 2024[19] - Adjusted EBITDA for 2025 was $30,711 million, down from $33,802 million in 2024, reflecting a decline of 9.2%[21] - Free cash flow surplus decreased to $1,917 million in 2025 from $23,626 million in 2024, a drop of 91.9%[27] - Return on capital employed (ROCE) fell to 8.0% in 2025 from 9.9% in 2024[25] Assets and Liabilities - Total assets increased to $228,132 million in 2025 from $209,550 million in 2024, representing a growth of 8.5%[17] - Total liabilities rose to $69,961 million in 2025, up from $62,189 million in 2024, an increase of 12.8%[17] - Cash and cash equivalents at the end of 2025 were $38,058 million, down from $41,803 million at the end of 2024, a decrease of 9.0%[19] - The current portion of long-term debt increased to $2,075 million in 2025 from $1,814 million in 2024, an increase of 14.4%[17] - Total stockholders' equity grew to $158,171 million in 2025, compared to $147,361 million in 2024, an increase of 7.0%[17] Cash Flow - Cash flow provided by operations decreased to $19,185 million in 2025 from $35,151 million in 2024, a decline of 45.4%[27] Earnings Per Share - Net income for the three months ended December 31, 2025, was $3.083 million, compared to a net loss of $39 thousand for the same period in 2024[29] - Adjusted net income for the twelve months ended December 31, 2025, was $13.239 million, down from $14.321 million in 2024, representing a decrease of approximately 7.6%[29] - Basic net income per share for the three months ended December 31, 2025, was $0.36, compared to $0.00 for the same period in 2024[29] - Adjusted net income per share (diluted) for the twelve months ended December 31, 2025, was $1.52, down from $1.63 in 2024, indicating a decline of about 6.7%[29] - The company experienced a decrease in diluted net income per share from $1.51 in 2024 to $1.29 in 2025 for the twelve months ended December 31[29] Other Costs - Severance costs (net of tax) for the twelve months ended December 31, 2025, totaled $1.149 million, compared to $1.022 million in 2024, reflecting an increase of approximately 12.4%[29] - Footprint optimization costs (net of tax) for the twelve months ended December 31, 2025, were $332 thousand, which was not present in the previous year[29] - Other onetime non-cash expenses for the twelve months ended December 31, 2025, amounted to $563 thousand, with no equivalent in 2024[29] Share Information - Weighted average common shares outstanding (basic) for the three months ended December 31, 2025, were 8,529,000, a slight decrease from 8,644,000 in 2024[29] - The company reported a basic adjusted net income per share of $0.47 for the three months ended December 31, 2025, compared to $0.10 in the same period of 2024[29]