Core Molding Technologies CEO sells $257,000 worth of stock via Investing.com
These sales have been conducted as direct transactions and disclosed in accordance with regulatory requirements. For in-depth information about CMT’s financial health and detailed analysis, investors can access the full Pro research report available from InvestingPro, which includes more than 1,400 US equities with expert analysis and practical intelligence. For in-depth information about CMT’s financial health and detailed analysis, investors can access the full Pro research report available from InvestingPro, which includes more than 1,400 US equities with expert analysis and practical intelligence.
These sales were made as direct transactions and disclosed in accordance with regulatory requirements. For in-depth information about CMT’s financial health and detailed analysis, investors can access the full Pro research report available from InvestingPro, which includes more than 1,400 US equities with expert analysis and practical intelligence.
These sales were made as direct transactions and disclosed in accordance with regulatory requirements.
In other recent news, Core Molding Technologies announced its financial results for the third quarter of fiscal 2024, reporting sales of $73 million and adjusted EBITDA of $7.5 million. Despite a very challenging economic situation, the company presented an income of $ 3.2 million. However, the company saw a decline in product sales of 11.9% and total sales of 15.8% year-on-year. In a strategic move, Alex Bantz has been appointed Chief Commercial Officer to drive sales and marketing initiatives.
Core Molding Technologies also highlighted year-to-date free cash flow of over $23 million and net cash flow of $92.3 million. The company also repurchased 112,000 shares under its share repurchase program. Despite facing a drop in demand in the truck market and a shift to new Volvo models (OTC: ), Core Molding has secured more than $45 million in new business and is entering new markets such as EV bus battery trays and medical devices.
The company expects a decline in full-year sales of approximately 17% and expects gross margins to remain within a range of 17% to 19%. As part of its “Invest for Growth” strategy, Core Molding is focused on developing customer relationships, expanding product offerings, developing sales force, developing technology, and potential acquisitions. These are the latest developments in the company’s operations and finances.
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