CMT

EX-99.1

2 a8-k991pressreleaseq32026.htm

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FOR IMMEDIATE RELEASE

Core Molding Technologies Reports Fiscal 2026 Third Quarter Results

Product Revenue Grows 19.7%; Mexico Expansion and Footprint Optimization Position Company for Further End-Market Diversification and Growth

COLUMBUS, OH, November 3, 2026 – Core Molding Technologies, Inc. (NYSE American: CMT) (“Core Molding”, “Core” or the “Company”), a leading engineered materials company specializing in molded structural products, principally in medium- and heavy-duty truck, powersports, building products, and industrial and utilities industries across the United States, Canada and Mexico today reports financial and operating results for the fiscal periods ended September 30, 2026.

Eric Palomaki, the Company’s President and Chief Executive Officer, said, “Our third quarter results reflect continued progress against our strategic initiatives that will shape our next phase of growth. While the quarter absorbed several one-time start-up costs associated with our Mexico expansion, footprint optimization, and higher external input costs, we achieved key operational milestones that position us for improved performance. Monterrey is now operational, and the two 4,500-ton presses in Matamoros, which many of our investors saw under construction at our recent Investor Day, are on track to come online by year-end, further expanding our capacity and supporting long-term growth.

As highlighted at our September Investor Day, demand trends continued to improve across several of our key markets. Medium- and heavy-duty truck production continued to recover during the quarter, while building products and industrial and utilities end markets remained healthy. Our commercial pipeline continues to strengthen. So far this year, we have secured approximately $30 million in new business awards and see a path to approximately $50 million in new business awards through six major projects currently in our last stage of our sales pipeline funnel. We also continue to expand our position in attractive long-term growth markets, including a significant award for battery energy storage systems. As electrification, grid hardening and increasing power demand drive infrastructure investment, we believe we are well-positioned to capitalize on these opportunities and further diversify our end-market exposure while advancing sustainable long-term growth,” commented Palomaki.

Alex Panda, the Company’s EVP and Chief Financial Officer, said, “Third quarter financial results reflected strong underlying business activity and continued execution of our strategic growth investments. Product revenue increased nearly 20% year-over-year, driven by improving heavy-duty truck demand, new program launches, and continued strength in our building products and industrial and utilities end markets. While profitability was impacted by one-time commissioning costs in Monterrey, portfolio footprint optimization activities, and higher external input costs, these investments are supporting additional capacity, improving operating efficiency, and future growth. Additionally, tooling project revenue accounted for a larger portion of sales during the quarter, which impacts our reported margins in the short term but creates recurring demand and revenue. Gross margin was 14.8% for the quarter and would have been approximately 18.6%, excluding the impact of tooling project revenue mix and Monterrey commissioning charges. Consistent with our outlook discussed at our Investor Day, we continue to expect full-year net sales to be flat to up approximately 5% with gross margins in the 16% to 17% range.

During the quarter, we continued to invest in initiatives that support long-term growth while maintaining financial flexibility. This included approximately $0.8 million to establish a center of excellence for our hood and battery systems in our Gaffney, South Carolina facility. Consistent with our disciplined capital allocation strategy, we also remained active in our share repurchase program during the quarter and into October,” commented Panda.

Third Quarter 2026 Highlights

•Total net revenues increased 54.4%, comprised Production revenues of $64.8 million and Tooling Project revenue of $25.4 million.

◦Production revenues increased 19.7% year-over-year, mainly due to higher demand from the medium and heavy-duty truck and new program launches.

◦Tooling Project revenue of $25.4 million compared to $4.3 million year-over-year is project-based revenue that is necessary ahead of a customer production cycle.

•Gross margin of $13.4 million, or 14.8% of net revenues, compared to 17.4% of net sales in the prior year third quarter. Excluding the impact of the tooling project margins and Monterrey commissioning charges, gross margin was 18.6%. This year's gross margins were also pressured by higher raw material input costs, which were offset by favorable fixed operating leverage, operating efficiencie

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EX-99.1

2 a8-k991pressreleaseq12026.htm

EX-99.1

Document

FOR IMMEDIATE RELEASE

Core Molding Technologies Reports Fiscal 2026 First Quarter Results

First Quarter Delivers New Wins of $17 million, Margin Expansion, Strategic Investment Progress, and Early Signs of Cycle Recovery

COLUMBUS, OH, May 7, 2026 – Core Molding Technologies, Inc. (NYSE American: CMT) (“Core Molding”, “Core” or the “Company”), a leading engineered materials company specializing in molded structural products, principally in building products, industrial and utilities, medium and heavy-duty truck and powersports industries across the United States, Canada and Mexico, today reported financial and operating results for the three months ended March 31, 2026.

Eric Palomaki, the Company’s President and Chief Executive Officer, said, “The first quarter delivered $17 million in new business wins, gross margin expansion to 20.4%, and continued progress on our strategic Mexico investments. As expected, total sales declined modestly in the first quarter, but our top-line performance does not capture the momentum building across our portfolio. The heavy- and medium-duty truck market remains in a down cycle, and we expect this to persist through the first half of 2026. We delivered a strong sales performance across Powersports—both water and land—along with meaningful contributions from new product categories. The first-quarter gross margin demonstrates our continued pursuit of margin expansion through diversification across Core’s operating model.

“Our Invest for Growth initiatives, and this year’s Must Win Battle focused on Mexico, are translating into tangible results. That progress reflects the disciplined operating model and execution capabilities we have built over the past several years and reinforces our confidence in Core’s long-term growth trajectory. We are also seeing increases across truck orders, supported by pre-buy activity and new program launches tied to our 2024-and-beyond wins. As visibility for the second half improves, we will continue to update our full-year sales outlook in line with customer demand.”

Alex Panda, the Company’s EVP and Chief Financial Officer, commented, “As expected, first quarter sales declined primarily due to the ongoing truck down cycle, which was meaningfully offset by strong demand in the Powersports end market. The gross margin of 20.4% reflected continued operating discipline, prudent cost control, footprint optimization, and favorable program mix. Typical seasonality, mix shifts, and planned tooling revenues support our expectation for full-year gross margin in the range of 17% to 19%."

“Our outlook remains unchanged, and we continue to expect 2026 sales to be flat to up approximately 5% year-over-year. We believe SMC compound wins and demand across other end markets will help offset the truck down cycle during the first half of the year. Based on current visibility, we expect the truck cycle to begin recovering in the second half of 2026, with momentum continuing through 2027.”

First Quarter 2026 Highlights

•Total net sales of $58.6 million decreased 4.7% year-over-year, mainly from expected truck demand, which was mostly offset by meaningful increases in Power sports demand.

•Gross margin of $12.0 million, or 20.4% of net sales, up from 19.2%, or 120 basis point improvement over the year-ago quarter. Sequentially, gross margin improved 520 basis points from 15.2% in the prior year fourth quarter.

•Selling, general, and administrative expenses of $11.2 million, or 19.1% of net sales, compared to $8.9 million, or 14.6% for the prior year first quarter. Excluding succession plan costs of $0.9 million and Mexico expansion related expense of $2.1 million, selling, general and administrative expense totaled $8.2 million or 14.0% of net sales.

•Operating income of $0.8 million, or 1.3% of net sales, compared to operating income of $2.8 million, or 4.6% of net sales for the prior year first quarter.

•Net income of $0.6 million, or $0.07 per diluted share, compared to net income of $2.2 million, or $0.25 per diluted share for the prior year first quarter. Adjusted net income1 of $3.2 million, or $0.37 per diluted share.

•Adjusted EBITDA1 of $7.3 million, or 12.5% of net sales, compared to $7.2 million, or 11.7% for the prior year first quarter. Sequentially, Adjusted EBITDA as a percent of net sales improved to 12.5% compared to 10.2% in the prior year fourth quarter.

•On March 11, 2026, the Board authorized an increase of 6,500,000 shares as part of the Company's repurchase program.

◦During the first quarter, 24,545 shares were repurchased at an average price of $18.62, totaling $457,000.

1Adjusted Net Income and Adjusted EBITDA are non-GAAP financial measures as defined and reconciled below.

2026 Capital Expenditures

Capital expenditures totaled $3.8 million in the first quarter of 2026, including $3.2 million related to the Company's Mexico expansion project. For the full