Core Molding Q2 net sales down 9.2%; lowers FY sales guidance to ~15% decline

CORE MOLDING TECHNOLOGIES INC

2024-Q2 EPS reported $1.15 revenue$166,888,000

Q2 net sales $88.7M (-9.2% YoY); net income $6.4M ($0.73 diluted EPS) vs $7.9M ($0.91) YoY.
Adjusted EBITDA $11.6M (13.0% of sales) vs $13.7M (14.1%) YoY; gross margin 20.0% vs 21.0%.
Six-month net sales $166.9M (-15.4% YoY); net income $10.2M ($1.15 EPS) vs $13.8M ($1.59).
Full-year sales guidance lowered to bottom of range, ~15% decline vs 2023, citing soft demand.
Liquidity $87.8M; repurchased ~24k shares at avg $16.41 in Q2; capex guided ~$13M for 2024.

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