Core Molding Technologies, Inc. Provides Earnings Guidance for the Year 2021
May 07, 2021 at 03:30 pm IST
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Core Molding Technologies, Inc. provided earnings guidance for the year 2021. The company expects sales levels for 2021 to increase compared to 2020. In the company's large market, North American heavy-duty truck, ACT Research is forecasting production to increase approximately 41%. In several other industries the company serves, customers are forecasting higher demand in 2021 including in the building products, power sports, and consumer goods markets. The company and customers have experienced supply disruptions and material cost increases due to storms, port delays, supplier force majeure as well as overall heavy global demand for certain materials. Although some of the supply disruptions have started to subside, the company anticipates the disruptions to continue to impact revenues through the remainder of 2021.
Core Molding Technologies, Inc. is an engineered materials company specializing in molded structural products, principally in building products, utilities, transportation and powersports industries across North America. The Company operates in one segment as molder of thermoplastic and thermoset structural products. Its operating segment consists of one reporting unit, Core Molding Technologies. Core Molding Technologies serves a variety of markets, including medium and heavy-duty trucks, marine, automotive, agricultural, construction, and other commercial products. The Company offers customers a range of manufacturing processes to fit various program volume and investment requirements. These thermoset processes include compression molding of sheet molding compound, resin transfer molding, liquid molding of dicyclopentadiene, spray-up and hand-lay-up. The thermoplastic processes include direct long-fiber thermoplastics and structural foam and structural web injection molding.