Core Molding Q1 2023 Earnings Report
Key Takeaways
Core Molding Technologies reported a strong first quarter with net sales of $99.5 million, a 9.8% increase year-over-year. Earnings per share rose 43% to $0.66, and the adjusted EBITDA margin reached 12.3%. The company's strategic focus on revenue growth, technical solutions, profitability improvements, and free cash flow generation drove the positive results.
Net sales increased by 9.8% to $99.5 million compared to the prior year.
Gross margin improved to $17.7 million, representing 17.8% of net sales.
Operating income rose to $8.1 million, or 8.1% of net sales, compared to $6.0 million, or 6.6% of net sales, in the previous year.
Net income increased to $5.9 million, or $0.66 per diluted share, compared to $3.9 million, or $0.46 per diluted share in the prior year.
Core Molding
Core Molding
Core Molding Revenue by Segment
Forward Guidance
The Company plans for total 2023 capital expenditures of approximately $13 million to meet current demand and allow us to add new business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income