Core Molding Q4 2024 Earnings Report
Key Takeaways
Core Molding Technologies saw a 15.3% year-over-year decline in revenue, reaching $62.5 million in Q4 2024, primarily due to lower demand in the medium and heavy-duty truck and powersports segments. The company posted a net loss of $39 thousand, compared to a net income of $2.2 million in Q4 2023. Gross margin slightly improved to 15.8%, and adjusted EBITDA reached $5.7 million, representing 9.2% of net sales.
Q4 revenue declined 15.3% YoY to $62.5 million.
Net loss of $39 thousand compared to net income of $2.2 million last year.
Gross margin improved to 15.8% from 14.8% in Q4 2023.
Adjusted EBITDA of $5.7 million, representing 9.2% of net sales.
Core Molding
Core Molding
Core Molding Revenue by Segment
Core Molding Revenue by Geographic Location
Forward Guidance
Core Molding Technologies expects flat sales for 2025, with growth in new programs offsetting the phase-out of Volvo contracts. The company anticipates increased revenue from tooling and new business wins, while macroeconomic challenges may continue to impact demand.
Positive Outlook
- New program revenues expected to ramp up in 2025.
- Higher tooling revenue anticipated compared to 2024.
- Truck cycle upturn projected in the second half of 2025.
- Strong sales opportunity pipeline of $275 million.
- Continued focus on operational improvements and cost reductions.
Challenges Ahead
- Macroeconomic challenges may continue to pressure demand.
- Expected phase-out of approximately $30 million in Volvo programs.
- Flat overall sales expected for 2025 despite new business wins.
- Ongoing cost pressures in materials and labor.
- Potential delays in realizing benefits from new investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income