Power Sports Segment Returns to Growth
Power sports achieved its first year-over-year growth in eight quarters, signaling a return to growth after two years of declines, driven by new product introductions and wallet share growth.
New Business Wins and Growth Opportunities
Core Molding Technologies secured $46.7 million in new business wins this year, building on $45 million from last year, with a robust sales pipeline exceeding $250 million.
Strategic Investments in Mexico
The company is investing $25 million in Matamoros and Monterrey, Mexico, to expand capacity and capabilities, including low pressure injection molding and topcoat paint capabilities.
Operational Efficiency and Quality Metrics
The company reported a 99% on-time delivery rate and a PPM rate of 62, indicating high-quality performance, along with industry-low safety incident and employee turnover rates.
Strong Financial Position
The balance sheet remains strong with total liquidity of $92.4 million and a debt-to-EBITDA ratio of less than 1x.