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Mar 31, 2022
Core Molding Q1 2022 Earnings Report
Reported strong demand resulting in increased sales and adjusted EBITDA margin.
Key Takeaways
Core Molding Technologies reported a strong first quarter in fiscal year 2022, with net sales up 24% to $90.6 million and an adjusted EBITDA margin of 10.5%. The company saw increased customer demand and new business wins, leading to higher capital expenditures for capacity expansion.
Net sales increased by 24% to $90.6 million compared to the prior year.
Adjusted EBITDA reached $9.5 million, representing 10.5% of net sales.
New business wins for the quarter totaled $10 million, contributing to future revenue growth.
Capital expenditures were increased to approximately $20 million to enhance capacity and efficiency.
Forward Guidance
The company increased its planned annual capital expenditures in 2022 from $14 million to $16 million, to approximately $20 million for the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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