Core Molding Technologies Reports Substantial Earnings and Revenue Growth
May 10, 2023
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Core Molding Technologies ($NYSEAM:CMT), a leading manufacturer of molded products for the automotive and heavy truck industries, recently reported substantial earnings and revenue growth for their latest quarter. The company posted GAAP earnings per share of $0.66, surpassing analyst estimates by $0.29, and reported total revenue of $99.5 million, beating expectations by $5.75 million. Core Molding Technologies is a publicly traded company listed on the Nasdaq Global Market. It is a manufacturer of sheet molding compounds, bulk molds and other composite materials used in the production of automotive and heavy truck components. Their products are designed to provide superior performance, durability and cost savings to the automotive and heavy truck industries.
The company’s impressive performance during the quarter is largely attributed to their focus on innovation in product design and production processes. Core Molding Technologies has been investing heavily in research and development in order to stay ahead of the competition and has developed a number of new products that have helped them maintain their edge in the market. The strong earnings and revenue growth reported by Core Molding Technologies is an indication that the industry is continuing to grow and that the company is well-positioned to capitalize on it. This news is likely to bode well for shareholders as the company has a bright outlook for the remainder of the year.
Earnings
CORE MOLDING TECHNOLOGIES recently announced its financial results for the fourth quarter of Fiscal Year 2022, ending December 31, 2022. The company reported total revenue of 86.44M USD and a net income of 4.83M USD. Moreover, CORE MOLDING TECHNOLOGIES has seen significant growth in total revenue over the last three years, increasing from 60.65M USD to 86.44M USD.
These results show that despite the challenges posed by the pandemic and economic downturn, the company has been able to continue to grow and succeed. Shareholders are sure to be pleased with these positive results.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CMT. More…
| Total Revenues | Net Income | Net Margin |
| 377.38 | 12.02 | 3.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CMT. More…
| Operations | Investing | Financing |
| 18.98 | -16.59 | -4.36 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CMT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 198.62 | 82.49 | 13.8 |
Key Ratios Snapshot
Some of the financial key ratios for CMT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.9% | 9.1% | 4.4% |
| FCF Margin | ROE | ROA |
| 0.6% | 9.2% | 5.2% |
Price History
Core Molding Technologies reported substantial earnings and revenue growth on Tuesday. The company’s stock opened at $20.0, up 4.8% from the previous closing price of 19.1, and closed at $20.0. This marked a positive trend for the company, indicating that its performance has improved significantly since its last reported earnings release.
These results indicate that Core Molding Technologies is continuing to grow and perform well despite the ongoing pandemic. The company’s stock has seen impressive gains as a result of its strong numbers, and investors are optimistic that it will continue to deliver on its growth potential in the coming months. Live Quote…
Analysis
At GoodWhale, we have conducted an in-depth analysis of CORE MOLDING TECHNOLOGIES’s financials. In terms of risk, our assessment rates the company as a low risk investment, in both financial and business aspects. However, there are certain risk warnings that have been detected in the balance sheet of this company, and as a registered user of GoodWhale, you can get further insights into these warnings and make better investment decisions. Sign up now to access this information. More…
Peers
The competition between Core Molding Technologies Inc and its competitors, Okura Industrial Co Ltd, G M Polyplast Ltd, and Ningbo Changhong Polymer Scientific & Technical Inc, is fierce. Each company is striving to offer the best products and services to their customers in order to gain a competitive edge. They must constantly be innovating to stay ahead of the competition and maintain their market share.
– Okura Industrial Co Ltd ($TSE:4221)
Okura Industrial Co Ltd is a Japanese-based manufacturer and distributor of industrial machinery and parts. The company has a market capitalization of 24.34 billion as of 2023, reflecting its success in the industry. In addition, its Return on Equity (ROE) is 6.03%, which indicates the company’s efficient use of equity to generate profits. The company is well known for its high-quality products and services and a strong presence in the industry.
– G M Polyplast Ltd ($BSE:543239)
M Polyplast Ltd is a leading Indian manufacturer and marketer of polymeric materials and plastic pipes. With a market cap of 2.09 billion as of 2023, the company is well positioned to capitalize on the growing demand for its products. It also has an impressive Return on Equity of 18.89%, suggesting that it is able to generate a healthy return on its investments. The company’s products are used in a variety of industries such as plumbing, healthcare, automotive, and industrial applications. M Polyplast Ltd is well positioned to continue to grow in the future and should remain a strong performer in the industry.
– Ningbo Changhong Polymer Scientific & Technical Inc ($SHSE:605008)
Ningbo Changhong Polymer Scientific & Technical Inc is a Chinese engineering and technology company specializing in the manufacture of engineering plastics, polymers and resins. Its current market cap of 10.07B as of 2023 reflects its financial strength and stability, and its Return on Equity (ROE) of 9.15% indicates that the company is generating a healthy level of returns for its shareholders. The company has become a leading player in the engineering plastics industry, and its products are used in a wide variety of industries, from automotive to medical devices.
Summary
Core Molding Technologies is a leading producer of sheet molding compounds (SMC) and molding composites for the North American automotive market. Revenue came in at $99.5 million, a beat of $5.75 million, while adjusted earnings per share of $0.66 beat by $0.29. The stock price rose on the same day, indicating a positive reaction from investors.
The company has seen steady growth in revenue and profits over the past year and has been able to benefit from the increased demand in the automotive sector. Core Molding Technologies is well-positioned to continue its strong performance, making it an attractive option for investors.
