{"id":989238,"date":"2026-08-04T08:41:25","date_gmt":"2026-08-04T12:41:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/core-molding-technologies-reports-fiscal-2026-second-quarter-results\/"},"modified":"2026-08-04T08:41:25","modified_gmt":"2026-08-04T12:41:25","slug":"core-molding-technologies-reports-fiscal-2026-second-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/core-molding-technologies-reports-fiscal-2026-second-quarter-results\/","title":{"rendered":"Core Molding Technologies Reports Fiscal 2026 Second Quarter Results"},"content":{"rendered":"

\nFirst-Half New Business Wins of $25.7 million Expand Market Diversification and Reinforce Full-Year Invest for Growth Expectations
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COLUMBUS, Ohio, Aug. 04, 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 medium- and heavy-duty truck, powersports, building products, and industrial and utilities industries across the United States, Canada and Mexico today reports financial and operating results for the fiscal periods ended June\u00a030, 2026.<\/p>\n

\n Eric Palomaki, the Company\u2019s President and Chief Executive Officer, said,<\/strong> \u201cOur second quarter results reflect the resilience of our diversified portfolio and the continued execution of our Invest for Growth strategy.\u00a0\u00a0 As expected, production sales in our medium- and heavy-duty truck markets remained soft; however, strong momentum across our powersports, building products, and industrial and utilities end markets mostly offset that weakness.\u00a0\u00a0 While tooling revenue remains all project-driven with larger customer acceptances anticipated in the fourth quarter, our commercial execution continues to gain traction.\u00a0\u00a0 We are pleased with the nearly $26 million in new business awards we secured during the first half of 2026, which further diversify our revenue base and reduce our reliance on historically cyclical end markets. Importantly, 100% of these awards represent net new business rather than replacement volume, and approximately 65% originated from markets outside of our traditional truck and powersports sectors. 74% of this new business will be produced within our U.S. manufacturing footprint, allowing us to leverage installed capacity, improve returns on invested capital, drive profitable growth, and generate stronger cash flow. We are also expanding our presence in compelling secular growth markets.\u00a0\u00a0 During the quarter, we secured a significant award for battery energy storage systems and continue to pursue opportunities tied to accelerating power demand needed for grid reliability which is impacted by AI data center development, utility infrastructure modernization, and load-shedding solutions.<\/p>\n

\u201cIn parallel with these initiatives, our 2026 Must Win Battle is transforming our operating footprint and strengthening our competitive position in Mexico.\u00a0\u00a0 This year, we will quadruple our manufacturing footprint in Monterrey, adding two 4500-ton presses in Matamoros, and advancing a culture of operational excellence that continues to deliver measurable results. I am especially proud of our Mexico team, whose execution enabled the successful completion of a major plant relocation and consolidation in less than nine months all while maintaining excellent on time shipping and quality metrics. These investments reflect our disciplined approach to capital allocation and our commitment to organic growth.\u00a0\u00a0 By expanding capacity, we are building a scalable platform that supports secured and future programs, accelerates profitable growth, and enhances long-term shareholder value.”<\/p>\n

\n Alex Panda, the Company\u2019s EVP and Chief Financial Officer, said,<\/strong> \u201cFor the second quarter, total product or production sales declined 1.2% year over year, as strong growth across powersports, building products, and industrial and utilities end markets largely offset lower truck demand.\u00a0\u00a0\u00a0 Production sales, excluding the truck end market, increased 20.8% year over year. This quarter, we again delivered a strong profitability as gross margin was 20.3% of sales. For 2026, we continue to expect total net sales in the flat-to-approximately 5% growth range, including production revenue and tooling project revenue.\u00a0\u00a0 We continue to anticipate a gradual recovery in the truck market during the second half of the year.\u00a0\u00a0 Our gross margin projections remain in the 17% to 19% range, depending on end market product mix and the split between production revenues and tooling project revenues.<\/p>\n

\u201cOur balance sheet remains strong.\u00a0\u00a0 During the quarter, we repaid the remaining balance on our 2022 Term Loan, and in July 2026, we successfully amended and extended our credit facilities, further strengthening our financial position. The amended credit agreement provides a $50 million revolving credit facility and a $50 million delayed-draw term loan facility, both maturing in July 2031.\u00a0\u00a0 During the quarter, we also terminated our interest rate swap agreement, generating a small gain and simplifying our capital structure.\u00a0\u00a0 With ample liquidity, enhanced financial flexibility, and a disciplined approach to capital allocation, we remain well positioned to execute our \u2018Invest for Growth’ strategy and support our long-term growth objectives.\u201d<\/p>\n

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