Core Molding Q1 net sales down 21.5% to $78.1M; EPS $0.43 vs $0.66; guides FY sales down 10-15%

CORE MOLDING TECHNOLOGIES INC

2024-Q1 EPS reported $0.43 revenue$78,145,000

Net sales $78.1M, down 21.5% YoY; gross margin 17.0% vs 17.8% prior year.
Net income $3.8M ($0.43 diluted EPS) vs $5.9M ($0.66) prior year.
Adjusted EBITDA $8.7M (11.2% of sales) vs $12.2M (12.3%).
Q1 sequential improvement: net sales +5.9% from Q4 2023; Adj. EBITDA margin 11.2% vs 8.9%.
Company reaffirms FY 2024 sales decline of 10-15%; expects Q2 demand similar to Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CORE MOLDING TECHNOLOGIES INC reported the first quarter ended March 31, 2024 results: revenue $78.1 million, net income $3.8 million, EPS $0.43 per diluted share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $78.1 million
Net income: $3.8 million
EPS: $0.43 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the United States, Canada and Mexico today reports financial and operating results for the three months ended March 31, 2024. First Quarter 2024 Highlights • Total net sales of $78.1 million decreased 21.5% compared to the prior year first quarter. Sequentially, first quarter net sales improved by 5.9%, up from $73.8 million in the 2023 fourth quarter. • Gross margin

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Source: SEC EDGAR

accession 0001026655-24-000057

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