Core Molding Technologies
Q2 2026 Earnings
Market Reaction
Did CMT Beat Earnings? Q2 2026 Results
Core Molding Technologies delivered a sharply better-than-expected second quarter for fiscal 2026, posting adjusted earnings of $0.39 per diluted share against a consensus estimate of just $0.21, an 85.71% beat, even as total net revenue slid 20.8% year over year to $62.73 million, edging past the $60.05 million Wall Street had anticipated. The headline revenue decline was largely the product of a dramatic collapse in tooling project revenue, which fell to $1.84 million from $17.61 million a year ago as larger customer acceptances shifted toward Q4 2026. Encouragingly, production revenues outside the soft medium- and heavy-duty truck vertical rose 20.8%, driven by powersports, building products, and industrial end markets, while gross margin expanded to 20.3% from 18.1%. The company also secured nearly $25.70 million in new business awards in the first half of the year, with 65% coming from markets beyond traditional truck and powersports. Looking ahead, management guided for flat to approximately 5% full-year net sales growth and gross margins in the 17% to 19% range, with a gradual truck market recovery expected in the second half.
- Production revenues excluding truck end market increased 20.8% year-over-year
- Strong growth in powersports, building products, and industrial and utilities end markets offset truck softness
- Favorable product mix and operating efficiencies improved gross margin to 20.3%
- One-time customer capacity credit contributed to margin; excluding credit, gross margin was 19.4%
- Tooling project revenue significantly lower at $1.8 million vs $17.6 million year-over-year due to project timing
“Our second quarter results reflect the resilience of our diversified portfolio and the continued execution of our Invest for Growth strategy. As expected, production sales in our medium- and heavy-duty truck markets remained soft; however, strong momentum across our powersports, building products, and industrial and utilities end markets mostly offset that weakness.”
Core Molding Technologies CEO, on the earnings call
Forward Guidance & Outlook
For full-year 2026, the company expects total net sales in the flat to approximately 5% growth range, including production revenue and tooling project revenue. Gross margin projections remain in the 17% to 19% range depending on end market product mix and the split between production and tooling project revenues. Management anticipates a gradual recovery in the truck market during the second half of the year. Capital expenditures for full-year 2026 are expected to be approximately $25 to $30 million, including $18 to $20 million allocated to the Mexico expansion. Larger tooling customer acceptances are anticipated in Q4 2026.
CMT YoY Financials
CMT Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.