NYSE$CMT
Core Molding Technologies Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported record quarterly sales and faced gross margin pressures due to product mix shifts and inflation.
Core Molding Technologies reported record quarterly sales of $98.7 million, a 23% increase year-over-year. However, gross margins were impacted by product mix shifts, production inefficiencies, and inflation, leading to a decrease in operating income and net income compared to the prior year.
- Net sales increased by 22.7% to $98.7 million compared to the prior year.
- Raw material cost recoveries were approximately $7.8 million, representing 7.9% of net sales.
- Operating income decreased to $4.4 million, or 4.4% of net sales, compared to $6.2 million in the prior year.
- Net income decreased to $2.2 million, or $0.26 per diluted share, compared to $4.1 million in the prior year.
Headline financials
Revenue & EPS history
Core Molding · Revenue · Quarterly
$98.7M
Revenue by segment
Core Molding · $15.1M total across 3 segments · Q3 2023
- Tooling$5.83M-37.1%38.6%
- Building products$4.82M—31.9%
- Industrial and Utilities$4.47M—29.6%
Forward guidance
The Company has planned 2022 capital expenditures of approximately $20 million. Expenditures for automation and the addition of three presses in the direct long fiber and structural foam processes will provide added capacity to allow the Company to meet its current demand and to add new business.
Tailwinds
- Major programs are ramping up throughout 2022.
- New business wins continue to be the primary growth driver.
- An extension of Volvo supply agreement through 2027.
- The new terms will provide a financial benefit starting in the third quarter of 2022.
- Demand remains strong which allows sales team to be more selective on new business opportunities.
Headwinds
- Gross margins were impacted by inflationary pressures recoveries.
- Operating inefficiencies driven by high demand and product mix shift.
- Impact of the coronavirus (COVID 19) global pandemic on our business.
- Fluctuations in foreign currency exchange rates.
- Risk of cancellation or rescheduling of orders.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+1.5%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+3.4%
Avg return
30 days after
59%
38 / 64 earnings
Positive
+34.9%
Q1 2020
Best reaction
-36.7%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.3% | -1.3% | -7.8% | |
| Q4 2025 | +8.4% | +7.0% | +28.9% | |
| Q3 2025 | +2.4% | +4.9% | +2.2% | |
| Q1 2025 | -1.7% | +1.0% | +4.1% | |
| Q4 2024 | -0.4% | +6.1% | +11.8% | |
| Q3 2024 | +7.5% | +8.1% | +5.2% | |
| Q2 2024 | -7.5% | +3.9% | +3.3% | |
| Q1 2024 | +1.6% | +3.8% | -10.8% | |
| Q4 2023 | -0.9% | -5.1% | -5.5% | |
| Q3 2023 | -36.7% | -33.7% | -24.6% | |
| Q2 2023 | +15.5% | +15.6% | +13.1% | |
| Q1 2023 | +7.3% | +7.2% | +2.8% | |
| Q4 2022 | +11.2% | +9.5% | +26.1% | |
| Q3 2022 | +8.6% | +8.3% | +5.7% | |
| Q2 2022 | +5.5% | +18.0% | +3.4% | |
| Q1 2022 | +4.1% | +2.3% | -3.0% | |
| Q4 2021 | +20.0% | +22.8% | +25.8% | |
| Q3 2021 | -13.0% | -13.2% | -25.6% | |
| Q2 2021 | +11.4% | +8.3% | -2.8% | |
| Q1 2021 | +23.8% | +23.7% | +12.4% | |
| Q4 2020 | -7.3% | -8.2% | -8.3% | |
| Q3 2020 | +13.3% | +10.2% | +41.9% | |
| Q2 2020 | +8.0% | +9.8% | +32.9% | |
| Q1 2020 | +34.9% | +20.8% | +70.3% | |
| Q4 2019 | +0.5% | +0.5% | -42.7% | |
| Q3 2019 | -1.5% | +1.7% | +1.7% | |
| Q2 2019 | +13.4% | +9.2% | +8.7% | |
| Q1 2019 | -2.0% | -0.6% | -10.1% | |
| Q4 2018 | -3.3% | -0.5% | +1.9% | |
| Q3 2018 | +0.7% | +2.0% | +14.5% | |
| Q2 2018 | -27.4% | -30.1% | -30.4% | |
| Q1 2018 | -4.3% | -12.0% | -9.6% | |
| Q4 2017 | -0.8% | -3.9% | -7.6% | |
| Q3 2017 | -7.9% | -9.6% | -8.6% | |
| Q2 2017 | +10.7% | +11.1% | +5.6% | |
| Q1 2017 | +3.0% | +1.5% | +6.3% | |
| Q4 2016 | -1.7% | +0.1% | +15.4% | |
| Q3 2016 | -18.5% | -13.2% | -7.5% | |
| Q2 2016 | -16.8% | -22.1% | -7.9% | |
| Q1 2016 | +15.6% | — | — | |
| Q4 2015 | -2.8% | — | — | |
| Q3 2015 | -29.3% | — | — | |
| Q2 2015 | +17.3% | — | — | |
| Q1 2015 | +7.2% | — | — | |
| Q4 2014 | +6.1% | — | — | |
| Q3 2014 | +4.6% | — | — | |
| Q2 2014 | +6.5% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | -8.2% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | -0.8% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q4 2012 | -0.1% | — | — | |
| Q3 2012 | -0.8% | — | — | |
| Q2 2012 | +1.0% | — | — | |
| Q1 2011 | -4.0% | — | — | |
| Q1 2012 | +2.5% | — | — | |
| Q4 2011 | +0.9% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q3 2011 | +1.0% | — | — | |
| Q2 2011 | +6.5% | — | — | |
| Q2 2010 | +6.5% | — | — | |
| Q4 2010 | +6.5% | — | — | |
| Q1 2010 | -3.0% | — | — |
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