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Sep 30, 2024
Core Molding Q3 2024 Earnings Report
Achieved margin stability and executed Invest for Growth strategies.
Key Takeaways
Core Molding Technologies reported a decrease in net sales by 15.8% compared to the prior year third quarter, with a gross margin of 16.9%. The company completed a labor reduction expected to yield $2.6 million in annual cost savings and repurchased 111,884 shares under its share repurchase authorization.
Total net sales decreased by 15.8% compared to the prior year third quarter.
Gross margin was 16.9% of net sales, slightly lower than the prior year's 17.6%.
Operating income decreased to $3.6 million, or 4.9% of net sales, compared to $5.9 million in the prior year.
Net income decreased to $3.2 million, or $0.36 per diluted share, compared to $4.4 million in the prior year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company now expects full year 2024 revenues to be down approximately 17%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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