Core Molding Technologies, Inc. Announces Unaudited Consolidated Goodwill Impairment for the Three Months Ended September 30, 2019; Provides Sales and Production Guidance for the Fourth Quarter of 2019
November 18, 2019 at 02:59 pm EST
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Core Molding Technologies, Inc. announced unaudited consolidated goodwill impairment for the three months ended September 30, 2019. For the quarter, the company reported goodwill impairment of $4,100,000.
Based on industry analysts' projections and customer forecasts, the Company expects sales levels for the fourth quarter of 2019 to soften due to decreased demand from truck customers. ACT Research is forecasting fourth quarter of 2019 heavy-duty truck production to decrease approximately 19% compared to the third quarter of 2019.
Core Molding Technologies, Inc. is an engineered materials company specializing in molded structural products, principally in building products, utilities, transportation and powersports industries across North America. The Company operates in one segment as molder of thermoplastic and thermoset structural products. Its operating segment consists of one reporting unit, Core Molding Technologies. Core Molding Technologies serves a variety of markets, including medium and heavy-duty trucks, marine, automotive, agricultural, construction, and other commercial products. The Company offers customers a range of manufacturing processes to fit various program volume and investment requirements. These thermoset processes include compression molding of sheet molding compound, resin transfer molding, liquid molding of dicyclopentadiene, spray-up and hand-lay-up. The thermoplastic processes include direct long-fiber thermoplastics and structural foam and structural web injection molding.
Core Molding Technologies, Inc. Announces Unaudited Consolidated Goodwill Impairment for the Three Months Ended September 30, 2019; Provides Sales and Production Guidance for the Fourth Quarter of 2019
CORE MOLDING TECHNOLOGIES, INC. 
