Core Molding Tech | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 62.73 M

Revenue: As of FY2026 Q2, the actual value is USD 62.73 M, beating the estimate of USD 60.05 M.

EPS: As of FY2026 Q2, the actual value is USD 0.21, meeting the estimate of USD 0.21.

EBIT: As of FY2026 Q2, the actual value is USD 2.355 M.

Second Quarter 2026 Financial Highlights

• Total Net Revenues: Core Molding Technologies, Inc. reported total net revenues comprising Production revenues of $60.9 million and Tooling Project revenue of $1.8 million. Production revenues declined 1.2% year-over-year (YoY) due to the Truck vertical, but increased 20.8% YoY excluding the Truck vertical. Tooling Project revenue of $1.8 million compared to $17.6 million in the prior year second quarter.
• Gross Margin: Gross margin was $12.7 million, or 20.3% of net revenues, compared to 18.1% of net sales in the prior year second quarter. Excluding a one-time customer capacity credit, gross margin was 19.4%.
• Selling, General, and Administrative (SG&A) Expenses: SG&A expenses were $10.4 million, or 16.6% of net revenues, compared to $9.1 million, or 11.5% of net revenues in the prior year second quarter, including $1.8 million of non-recurring costs for Mexico expansion and severance.
• Operating Income: Operating income was $2.3 million, or 3.7% of net revenues, compared to $5.2 million, or 6.6% of net revenues for the prior year second quarter.
• Net Income: Net income was $1.8 million, compared to $4.1 million for the prior year second quarter.
• Adjusted Net Income: Adjusted net income was $3.3 million.
• Adjusted EBITDA: Adjusted EBITDA was $7.6 million, or 12.2% of net revenues, compared to $9.5 million, or 12.0% for the prior year second quarter.

Six-Month 2026 Financial Highlights

• Total Net Revenues: Total net revenues for the six-month period comprised Production revenue of $118.4 million and Tooling Project revenue of $3.0 million. Production revenues declined 3.5% YoY due to the Truck vertical, but increased 20.7% YoY excluding the Truck vertical. Tooling Project revenue of $3.0 million compared to $18.0 million YoY in the prior year six-month period.
• Gross Margin: Gross margin was $24.7 million, or 20.4% of net revenues, compared to 18.5% of net revenues in the prior year six-month period.
• Selling, General, and Administrative (SG&A) Expenses: SG&A expenses were $21.6 million, or 17.8% of net revenues, compared to $18.0 million, or 12.8% of net revenues, including $4.8 million of non-recurring costs for Mexico expansion and severance.
• Operating Income: Operating income was $3.1 million, or 2.5% of net revenues, compared to $8.1 million, or 5.7% of net revenues for the prior year six-month period.
• Net Income: Net income was $2.4 million, compared to $6.2 million for the prior year six-month period.
• Adjusted Net Income: Adjusted net income was $6.5 million.
• Adjusted EBITDA: Adjusted EBITDA was $15.0 million, or 12.3% of net revenue, compared to $16.7 million, or 11.9% for the prior year six-month period.
• Share Repurchases: Core Molding Technologies, Inc. repurchased 24,545 shares for $457,000.

Product Revenue by Market (Three Months Ended June 30)

• Medium and heavy-duty truck: $24,172 thousand (2026) vs. $31,246 thousand (2025).
• Power sports: $15,245 thousand (2026) vs. $14,208 thousand (2025).
• Building products: $6,316 thousand (2026) vs. $4,671 thousand (2025).
• Industrial and utilities: $6,207 thousand (2026) vs. $5,874 thousand (2025).
• All other: $8,950 thousand (2026) vs. $5,634 thousand (2025).
• Net product revenue: $60,890 thousand (2026) vs. $61,633 thousand (2025).

Product Revenue by Market (Six Months Ended June 30)

• Medium and heavy-duty truck: $43,707 thousand (2026) vs. $60,806 thousand (2025).
• Power sports: $35,942 thousand (2026) vs. $28,414 thousand (2025).
• Building products: $11,490 thousand (2026) vs. $11,050 thousand (2025).
• Industrial and utilities: $11,531 thousand (2026) vs. $11,244 thousand (2025).
• All other: $15,680 thousand (2026) vs. $11,131 thousand (2025).
• Net product revenue: $118,350 thousand (2026) vs. $122,645 thousand (2025).

Cash Flow (Six Months Ended June 30)

• Net cash provided by operating activities: $7,070 thousand (2026) vs. $9,594 thousand (2025).
• Purchase of property, plant and equipment: - $12,082 thousand (2026) vs. - $4,387 thousand (2025).
• Free cash flow: - $5,012 thousand (2026) vs. $5,207 thousand (2025).

Capital Expenditures

• Capital expenditures for the first six months of 2026 were $12.1 million, including $9.6 million related to the Mexico expansion project.
• For the full year 2026, Core Molding Technologies, Inc. expects capital spending of approximately $25 million to $30 million, with $18 million to $20 million allocated to the Mexico expansion.
• Return on Capital Employed was 5.7% for the trailing twelve months, and 6.2% excluding cash.

Financial Position

• Cash and cash equivalents at June 30, 2026, were $12.1 million.
• The outstanding balance of the 2022 Term Loan was repaid in full by June 30, 2026.
• In July 2026, Core Molding Technologies, Inc. amended and extended its credit facilities, securing $100 million in aggregate, consisting of a $50 million revolving credit facility and a $50 million delayed-draw term loan facility, both maturing in July 2031.

Outlook / Guidance

Core Molding Technologies, Inc. anticipates total net sales for 2026 to be in the flat-to-approximately 5% growth range, encompassing both production and tooling project revenue. The company projects a gradual recovery in the truck market during the second half of the year. Gross margin is expected to remain in the 17% to 19% range, depending on the end market product mix and the division between production and tooling project revenues.