Core Molding Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 02:39 pm EST
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Core Molding Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 86.73 million compared to USD 101.61 million a year ago. Net income was USD 4.35 million compared to USD 1.32 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.49 compared to USD 0.16 a year ago.
For the nine months, sales was USD 283.96 million compared to USD 290.93 million a year ago. Net income was USD 18.14 million compared to USD 7.37 million a year ago. Basic earnings per share from continuing operations was USD 2.13 compared to USD 0.87 a year ago. Diluted earnings per share from continuing operations was USD 2.08 compared to USD 0.87 a year ago.
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.