Core Molding Technologies Inc
F:XQN
Core Molding Technologies Inc
Core Molding Technologies, Inc. engages in manufacturing of sheet molding compound and molding of fiberglass reinforced plastics. The company is headquartered in Columbus, Ohio and currently employs 1,584 full-time employees. The firm specializes in molded structural products, principally in building products, utilities, transportation and powersports industries across North America and Mexico. The firm operates in one operating segment as a molder of thermoplastic and thermoset structural products. The firm produces and sells molded products for varied markets, including medium and heavy-duty trucks, automobiles, marine, construction, and other commercial markets. The company offers customers a range of manufacturing processes to fit various program volume and investment requirements, which includes Sheet Molding Compound (SMC), resin transfer molding (RTM), liquid molding of dicyclopentadiene (DCPD), spray-up and hand-lay-up, direct long-fiber thermoplastics (D-LFT) and structural foam and structural Web injection molding (SIM). The company operates seven production facilities in three countries, including United States, Canada, and Mexico.
Core Molding Technologies, Inc. engages in manufacturing of sheet molding compound and molding of fiberglass reinforced plastics. The company is headquartered in Columbus, Ohio and currently employs 1,584 full-time employees. The firm specializes in molded structural products, principally in building products, utilities, transportation and powersports industries across North America and Mexico. The firm operates in one operating segment as a molder of thermoplastic and thermoset structural products. The firm produces and sells molded products for varied markets, including medium and heavy-duty trucks, automobiles, marine, construction, and other commercial markets. The company offers customers a range of manufacturing processes to fit various program volume and investment requirements, which includes Sheet Molding Compound (SMC), resin transfer molding (RTM), liquid molding of dicyclopentadiene (DCPD), spray-up and hand-lay-up, direct long-fiber thermoplastics (D-LFT) and structural foam and structural Web injection molding (SIM). The company operates seven production facilities in three countries, including United States, Canada, and Mexico.
Sales Decline: Q3 revenue was $58.4 million, down 19.9% year-over-year, mainly due to the Volvo program transition and weaker truck demand.
Margins Stable: Gross margin remained within target at 17.4%, and EBITDA margin improved by 70 basis points to 11% versus last year.
Tooling Revenue Shift: Significant tooling sales shifted from Q3 to Q4, expected to drive a year-over-year sales increase next quarter.
Growth Pipeline: Over $250 million in new business opportunities are in the pipeline, with $65 million in incremental wins in the past 20 months.
2025 Outlook: Full-year sales expected to be down 10%-12%, but Q4 sales are forecast to rise due to new launches and tooling revenue.
Strategic Investments: $25 million being invested in Mexico expansion; Monterrey facility will add new capabilities and customer value.
Operational Efficiency: Ongoing footprint optimization expected to save over $1 million annually from 2026.
End Market Diversification: Growth seen in power sports, building products, and industrial/utilities markets, with strong momentum in SMC material and Canadian rail projects.
