Core Molding reports Q2 adjusted EPS 53c vs. 73c last year

Reports Q2 revenue $79.2M vs. David Duvall, the Company’s President and Chief Executive Officer, said, “I am proud of our team’s disciplined execution in our ability to maintain gross margins with sales being down in our two current major markets: Truck and Powersports, which makes up 75% of our total revenue. I am excited when I look to the future with the significant progress we have made in our Invest For Growth strategy. We have won $47 million in new incremental business, achieving this milestone only halfway through the year. These new programs will launch over the next two years and represent blue-chip customers across diverse end-markets, including building products, EV – transportation, aerospace, and powersports. Although 2025 market demand levels are not where we want them to be, I am pleased with our execution of our Invest For Growth strategy and it is setting us up well for long-term growth. In addition, I am pleased to announce that we have won the new Volvo Mexico programs that will launch in Q1 of 2027. To support the new business and anticipated additional future business we are investing $25 million, including an expansion of our Matamoros plant and a new plant and equipment in Monterrey Mexico. We are excited about making these investments in our organic growth by adding capacity and capabilities to our Matamoros and Monterrey locations. Organic growth has been our highest priority for our capital allocation strategy and making this investment not only launches a major truck program but adds DCPD molding and paint capabilities to our Monterrey facility, which is physically closer to major customers. This is a major step in our asset allocation strategy, and we look forward to continuing to grow our business with Volvo and other customers in the growing Monterrey area. These are long-term programs which we anticipate will provide revenues of $150 million over the next seven to ten years. We are proud to be a trusted partner of Volvo as they launch production from their new manufacturing site in Mexico.”