{"id":959748,"date":"2026-05-07T08:20:53","date_gmt":"2026-05-07T12:20:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/core-molding-technologies-reports-fiscal-2026-first-quarter-results\/"},"modified":"2026-05-07T08:20:53","modified_gmt":"2026-05-07T12:20:53","slug":"core-molding-technologies-reports-fiscal-2026-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/core-molding-technologies-reports-fiscal-2026-first-quarter-results\/","title":{"rendered":"Core Molding Technologies Reports Fiscal 2026 First Quarter Results"},"content":{"rendered":"

\nFirst Quarter Delivers New Wins of $17 million, Margin Expansion, Strategic Investment Progress, and Early Signs of Cycle Recovery
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COLUMBUS, Ohio, May 07, 2026 (GLOBE NEWSWIRE) — Core Molding Technologies, Inc.<\/strong> (NYSE American: CMT) (\u201cCore Molding\u201d, \u201cCore\u201d or the \u201cCompany\u201d), a leading engineered materials company specializing in molded structural products, principally in building products, industrial and utilities, medium and heavy-duty truck and powersports industries across the United States, Canada and Mexico, today reported financial and operating results for the three months ended March\u00a031, 2026.<\/p>\n

\n Eric Palomaki, the Company\u2019<\/strong>
\n s President and Chief Exec<\/strong>
\n utive Officer<\/strong>, said, \u201cThe first quarter delivered $17 million in new business wins, gross margin expansion to 20.4%, and continued progress on our strategic Mexico investments.\u00a0\u00a0 As expected, total sales declined modestly in the first quarter, but our top-line performance does not capture the momentum building across our portfolio.\u00a0\u00a0 The heavy- and medium-duty truck market remains in a down cycle, and we expect this to persist through the first half of 2026. We delivered a strong sales performance across Powersports\u2014both water and land\u2014along with meaningful contributions from new product categories. The first-quarter gross margin demonstrates our continued pursuit of margin expansion through diversification across Core\u2019s operating model.<\/p>\n

\u201cOur Invest for Growth initiatives, and this year\u2019s Must Win Battle focused on Mexico, are translating into tangible results.\u00a0\u00a0 That progress reflects the disciplined operating model and execution capabilities we have built over the past several years and reinforces our confidence in Core\u2019s long-term growth trajectory. We are also seeing increases across truck orders, supported by pre-buy activity and new program launches tied to our 2024-and-beyond wins. As visibility for the second half improves, we will continue to update our full-year sales outlook in line with customer demand.\u201d<\/p>\n

\n Alex Panda, the Company\u2019s EVP and Chief Financial Officer, commented,<\/strong> \u201cAs expected, first quarter sales declined primarily due to the ongoing truck down cycle, which was meaningfully offset by strong demand in the Powersports end market.\u00a0\u00a0 The gross margin of 20.4% reflected continued operating discipline, prudent cost control, footprint optimization, and favorable program mix.\u00a0\u00a0 Typical seasonality, mix shifts, and planned tooling revenues support our expectation for full-year gross margin in the range of 17% to 19%.<\/p>\n

\u201cOur outlook remains unchanged, and we continue to expect 2026 sales to be flat to up approximately 5% year-over-year.\u00a0\u00a0 We believe SMC compound wins and demand across other end markets will help offset the truck down cycle during the first half of the year.\u00a0\u00a0 Based on current visibility, we expect the truck cycle to begin recovering in the second half of 2026, with momentum continuing through 2027.\u201d\u00a0\u00a0<\/p>\n

\n First<\/strong>
\n Quarter <\/strong>
\n 2026<\/strong>
\n Highlights<\/strong>\n <\/p>\n