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Core Molding
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Latest analysis
Updated Nov 4, 2026
Core Molding Q3 2026: Volvo tooling amendment drives revenue 54% YoY; Mexico expansion costs pressure margins.
Core Molding Technologies reported net revenue of $90.2 million for Q3 2026, up 54% versus $58.4 million in Q3 2025, driven primarily by a $22 million one-time revenue recognition from amended Volvo tooling program terms. Excluding tooling and Mexico commissioning costs, Q3 gross margin reached 18.6%, a 120 basis point increase versus Q3 2025's 17.4%, supported by favorable fixed leverage and operating efficiencies offsetting input cost headwinds. Nine-month product revenue (ex-tooling) grew 3.6% to $183.2 million, with medium and heavy-duty truck demand offset by power sports strength; management guided full-year 2026 revenue flat to +5% versus 2025, with gross margins expected 16-17% due to freight, oil-linked input costs, and Monterrey facility commissioning.
Tone: cautiousRevenue
$273.8M
CMT 10-K · FY 2025
Employees
1,239
Revenue FY2024
$302.4M
Headquarters
Columbus, OH
Profile
CMT 10-K Item 1 · Mar 10, 2026Core Molding Technologies is a North American molder of thermoplastic and thermoset structural composite products, operating as a single segment across six production facilities in the United States, Canada, and Mexico. The company serves medium and heavy-duty truck OEMs, power sports brands, building products customers, and industrial end markets. It manufactures Sheet Molding Compound internally and converts it into finished structural components using compression, injection, resin transfer, and reaction injection molding processes.
Read filing description ↓ Collapse description ↑
Core Molding Technologies, Inc. and its subsidiaries operate in the engineered materials market as one operating segment as a molder of thermoplastic and thermoset structural products. The Company produces and sells molded products for varied markets, including medium and heavy-duty trucks, power sports, building products and other industrial markets. Core Molding Technologies has its headquarters in Columbus, Ohio, and operates six production facilities in the United States, Canada and Mexico. In general, the Company achieves product growth and diversification in several different ways, including: (1) resourcing of existing structural products from another supplier by an original equipment manufacturer ('OEM'); (2) obtaining new structural products through a selection process in which an OEM solicits bids; (3) successful marketing of structural products for previously non-structural applications; (4) successful marketing of structural products to OEMs outside of our traditional markets; (5) developing of new materials, technology and processes to meet current or prospective customer requirements; (6) converting alternative materials to engineered materials; (7) expanding its business through the direct sale of engineered materials, including Sheet Molding Compound ('SMC'); and (8) acquiring an existing business. The Company believes that it is one of the largest compounders and molders of thermoset and thermoplastic structural products in North America. Its manufacturing facilities utilize various production processes including SMC compression molding, Direct Long Fiber Thermoplastic compression molding, Resin Transfer Molding, Structural Foam and Web Injection Molding, Reaction Injection Molding, Hand Lay-Up, and Spray-Up. Many molded products are further assembled, machined, and painted to deliver finished components to customers.
Primary products
- Sheet Molding Compound (SMC)
- SMC compression molded products
- Direct Long Fiber Thermoplastic (DLFT) compression molded products
- Resin Transfer Molding (RTM) products
- Structural Foam and Web Injection Molded (SIM) products
- Reaction Injection Molding (RIM) products
Business segments
End markets
Geographies
Named customers
Sales to five customers constituted approximately 65% of our 2025 total sales. No other customer accounted for more than 10% of our total sales for this period.
Named competitors
“The Company believes that it is one of the largest compounders and molders of thermoset and thermoplastic structural products in North America.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net sales declined from $302.4 million in 2024 to $273.8 million in 2025, primarily due to lower demand from medium and heavy-duty truck and power sports customers, including the transition of Volvo programs away from the company, partially offset by new program launches and tooling sales growth.
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