Core Molding posts FY2023 net income of $20.3M, up 66% from prior year; sales down 5.2%

CORE MOLDING TECHNOLOGIES INC

FY2023 net sales $357.7M (-5.2% YoY); net income $20.3M ($2.31 diluted EPS) vs $12.2M ($1.44) in FY2022.
Gross margin improved to 18.0% from 13.9%; adjusted EBITDA $42.3M (11.8% of sales) vs $31.9M (8.5%).
Q4 2023 net sales $73.8M (-14.7% YoY); net income $2.2M ($0.25 EPS) vs $4.8M ($0.57) in Q4 2022.
Free cash flow $25.7M; debt leverage 0.54x adjusted EBITDA; total liquidity $74.1M at year-end.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CORE MOLDING TECHNOLOGIES INC reported fourth quarter 2023 results: revenue $73.8 million, net income $2.2 million, EPS $0.25 per diluted share.

Period: fourth quarter 2023
Revenue: $73.8 million
Net income: $2.2 million
EPS: $0.25 per diluted share
Result: reported results

Exact text from the filing

Net sales of $73.8 million, down 14.7% from $86.4 million in the prior year; and product sales of $72.4 million, down 12.9% from the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CORE MOLDING TECHNOLOGIES INC reported the year ended December 31, 2023 results: revenue $357.7 million, net income $20.3 million, EPS $2.31 per diluted share.

Period: the year ended December 31, 2023
Revenue: $357.7 million
Net income: $20.3 million
EPS: $2.31 per diluted share
Result: reported results

Exact text from the filing

Net sales of $357.7 million, down 5.2% from $377.4 million in the prior year; and product sales of $347.4 million, down 3.2% from the prior year.

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Source: SEC EDGAR

accession 0001026655-24-000028

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