Core Molding Technologies Announces $7,500,000 Stock Repurchase Program
11 3월 2024 - 9:00PM
Core Molding Technologies, Inc. (NYSE American:
CMT) (“Core Molding”, “Core” or the “Company”), a leading
engineered materials company specializing in molded structural
products, principally in building products, industrial and
utilities, medium and heavy-duty truck and powersports industries
across the United States, Canada and Mexico, today announced that
its Board of Directors authorized a stock repurchase program of up
to $7,500,000 of the Company’s issued and outstanding common stock,
par value $1.00 per share.
“The combination of the Company’s operational
performance and the strength of the balance sheet enables the
Company to allocate capital to the repurchase of Company shares
while also allocating capital to the growth of the Company,” said
Core Chief Executive Officer David Duvall. “The timing of this
decision is just another step in the Company’s transformation plan
that started several years ago.”
Repurchases of shares of common stock under the
stock repurchase program will be made in the open market and in
accordance with applicable securities laws. The stock repurchase
program does not obligate the Company to acquire any particular
amount of common stock, and it may be suspended or terminated at
any time at the Company’s discretion.
About Core Molding Technologies, Inc.
Core Molding Technologies is a leading
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 operating segment as a molder of
thermoplastic and thermoset structural products. The Company’s
operating segment consists of one reporting unit, Core Molding
Technologies. The Company offers customers a wide range of
manufacturing processes to fit various program volume and
investment requirements. These thermoset processes include
compression molding of sheet molding compound (“SMC”), resin
transfer molding (“RTM”), liquid molding of dicyclopentadiene
(“DCPD”), spray-up and hand-lay-up. The thermoplastic processes
include direct long-fiber thermoplastics (“DLFT”) and structural
foam and structural web injection molding. Core Molding
Technologies serves a wide variety of markets, including the medium
and heavy-duty truck, marine, automotive, agriculture,
construction, and other commercial products. The demand for Core
Molding Technologies’ products is affected by economic conditions
in the United States, Mexico, and Canada. Core Molding
Technologies’ operations may change proportionately more than
revenues from operations.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws that
are subject to risks and uncertainties. These statements often
include words such as “believe”, “anticipate”, “plan”, “expect”,
“intend”, “will”, “should”, “could”, “would”, “project”,
“continue”, “likely”, and similar expressions. In particular, this
press release may contain forward-looking statements about the
Company’s expectations for future periods with respect to its plans
to improve financial results and the future of the Company’s end
markets. Factors that could cause actual results to differ from
those reflected in forward-looking statements relating to our
operations and business include: general macroeconomic, social,
regulatory and political conditions, including uncertainties
surrounding volatility in financial markets; the short-term and
long-term impact of the coronavirus (COVID-19) pandemic, or other
pandemics in the future, on our business; changes in the plastics,
transportation, marine and commercial product industries; efforts
of the Company to expand its customer base and develop new products
to diversify markets, materials and processes and increase
operational enhancements; the Company’s initiatives to quote and
execute manufacturing processes for new business, acquire raw
materials, address inflationary pressures, regulatory matters and
labor relations; and the Company’s financial position or other
financial information. These statements are based on certain
assumptions that the Company has made in light of its experience as
well as its perspective on historical trends, current conditions,
expected future developments and other factors it believes are
appropriate under the circumstances. Actual results may differ
materially from the anticipated results because of certain risks
and uncertainties, including those included in the Company’s
filings with the SEC. There can be no assurance that statements
made in this press release relating to future events will be
achieved. The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on behalf
of the Company are expressly qualified in their entirety by such
cautionary statements.
Company ContactCore Molding
Technologies, Inc.John ZimmerExecutive Vice President & Chief
Financial Officerjzimmer@coremt.com
Investor Relations ContactThree
Part Advisors, LLCSandy Martin or Steven Hooser214-616-2207
Core Molding Technologies (AMEX:CMT)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Core Molding Technologies (AMEX:CMT)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024