Quarterly ResultMay 7, 2026, 08:03 AM
Core Molding Q1 Adjusted EPS $0.37; Gross Margin 20.4%
AI Summary
Core Molding Technologies reported Q1 2026 financial results, with net sales declining 4.7% to $58.6 million, primarily due to a downturn in the heavy-duty truck market, partially offset by strong Powersports demand. Despite the sales decline, gross margin expanded to 20.4%, a 120 basis point improvement year-over-year. GAAP net income was $0.6 million ($0.07 diluted EPS), while adjusted net income reached $3.2 million ($0.37 diluted EPS). The company reaffirmed its 2026 sales outlook, expecting flat to 5% growth, with a recovery in the truck market anticipated in the second half of the year.
Key Highlights
- Net sales decreased 4.7% year-over-year to $58.6 million.
- Gross margin expanded to 20.4% ($12.0 million), a 120 basis point improvement YoY.
- Adjusted net income was $3.2 million, or $0.37 per diluted share.
- Adjusted EBITDA was $7.3 million, or 12.5% of net sales, up from 11.7% YoY.
- Medium and heavy-duty truck sales declined to $19.5 million from $29.6 million YoY.
- Powersports sales increased to $20.7 million from $14.2 million YoY.
- Repurchased 24,545 shares for $457,000 in Q1 2026.
- Reaffirmed 2026 sales outlook of flat to up approximately 5% year-over-year.