(RTTNews) - Core Molding Technologies, Inc. (CMT), a US-based engineered materials company, on Tuesday reported lower net sales for the second quarter of fiscal 2025, ended June 30, 2025.
The company posted net income of $4.1 million, or $0.47 per share, for the second quarter of 2025, a decrease from $6.4 million, or $0.73 per share, in the same quarter last year.
The decline in net income was primarily driven by reduced sales due to the previously announced truck program phase-out and continued weakness in consumer demand within the truck and powersports segments. Additionally, pressure on fixed cost leverage and an unfavorable sales mix impacted profitability.
Net sales for the quarter were $79.2 million, down from $88.7 million a year ago.
Adjusted net income for the three-month period was $4.6 million, or $0.53 per share, compared to $6.4 million, or $0.73 per share, in the same period of 2024.
CMT reported operating income of $5.2 million for the quarter, down from $7.5 million in Q2 2024.
Looking ahead, the company expects sales declines to moderate to 4% to 6% in the second half of 2025, though gross margins will remain under pressure due to a higher mix of lower-margin tooling sales. Despite softer demand, the company generated $9.6 million in operating cash flow and $5.2 million in free cash flow, and remains focused on growth investments, including a $25 million plant expansion, and ongoing share repurchases.
On Tuesday, CMT closed at $17.29, up 2.98%, on the NYSE American.
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