Core Molding Q3 net sales down 15.8% to $73M; EPS $0.36 vs $0.49 YoY; cuts FY revenue outlook -17%

CORE MOLDING TECHNOLOGIES INC

2024-Q3 EPS reported $1.51 revenue$239,880,000

Net sales $73.0M, down 15.8% YoY; net income $3.2M ($0.36 diluted EPS) vs $4.4M ($0.49) in Q3 2023.
Operating margin 4.9% vs 6.8% YoY; adjusted EBITDA $7.5M (10.3% of sales) vs $9.8M (11.3%).
Labor reduction completed yielding $2.6M annual cost savings; repurchased 112k shares at avg $17.62.
Full-year 2024 revenue expected down ~17%; capex guidance $11-13M; total liquidity $92.3M.
Won $45M new product sales YTD, 55% new work; quote pipeline over $275M; new medical bed program.

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