Core Molding Technologies Inc

coremt.com

What Do They Do?

Molds thermoplastic and thermoset structural products for truck and powersports manufacturers, and for building, utility and other industrial customers.

How Do They Make Money?

Sells molded products to manufacturers and also takes on tooling projects. Tooling customers pay through progress payments tied to work or in one payment when the project is complete.

revenue

Segment	Share	Revenue
Product sales	85% FY2022: 95%
Tooling sales	15% FY2022: 5.0%

Who Are Their Customers?

Sells molded products to truck and powersports manufacturers and to building-products, industrial and utilities customers. Major customers include BRP, International, PACCAR, Volvo and Yamaha.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 1 cent into free cash flow.

Operating income, FY2025

5% of revenue

▼ −15% vs FY2024 ($16.7M, 6%)

Net income, FY2025

4% of revenue

▼ −16% vs FY2024 ($13.3M, 4%)

Free cash flow, FY2025

1% of revenue

▼ −92% vs FY2024 ($23.6M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −21%; vs $79.2M in Q2 FY2025
Net income: ▼ −56%; vs $4.1M in Q2 FY2025

Product share of revenue vs 77.8% in Q2 FY2025

Aug 4, 2026 Gave full-year sales and gross-margin outlook It expects 2026 net sales to be flat to approximately 5% growth, with gross margins of 17% to 19%.
May 19, 2026 CEO David Duvall began transition before retirement He will advise senior management part time through December 31, 2027.

Shrinking. Revenue fell 11% in 4 years, from $307.5M in FY2021 to $273.8M in FY2025, about 3% a year.

Revenue over time

Product sales Tooling sales

$500M$250M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with CSP, Ashley Industrial Molding, René Matériaux Composite, STS Group, and 20/20 Custom Molded Plastics

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