Loading...
•
Dec 31, 2021
Core Molding Q4 2021 Earnings Report
Core Molding reported a profitable Q4 2021 with increased sales and strategic pricing adjustments.
Key Takeaways
Core Molding Technologies reported a strong Q4 2021 with a 21% increase in net sales to $73.2 million. The company returned to profitability after addressing raw material inflation through pricing adjustments. Full-year sales reached a record $307 million, up 38% from the previous year.
Net sales for Q4 2021 increased by 21% to $73.2 million compared to the prior year.
The company successfully shifted back to profitability during the fourth quarter.
Gross margin for Q4 2021 was $8.5 million, representing 11.6% of sales.
Operating income for Q4 2021 was $2.0 million, compared to $3.0 million in the prior year.
Core Molding
Core Molding
Forward Guidance
Core Molding is focused on top-line growth, margin enhancement, and diversification. The company has implemented new pricing and surcharges to mitigate higher raw material costs.
Positive Outlook
- Continued top-line growth
- Margin enhancement
- Continued diversification in the industries served
- Expanding technical solutions sales into new industries
- Innovating new product conversions for lighter weight, lower cost, and higher performance products