Core Molding Technologies Inc Up 7.53% To $24.14 After Earnings Beat

Core Molding Technologies, Inc. (CMT) surpassed earnings projections on 8/8/2023 for Q2 2023.Core Molding Technologies Inc's earnings came in at an EPS of $0.91 per share, 117.00% higher than estimates for an EPS of $0.42 per share. The firm's earnings are up 250% since reporting $0.26 per share in the same period a year ago. Revenues were upbeat at $97.7 million. That represents a 1.02% decrease in revenues from the year-ago report and is 0.49% higher than consensus estimates set at $97.3 million. The stock is up 7.53% to $24.14 after the report.The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.Trading in the five days leading up to the report earned Core Molding Technologies Inc a Bearish Sentiment Rank from InvestorsObserver.Core Molding Technologies Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 95, putting Core Molding Technologies Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $24.4 on July 28, 2023 and set a 52-week low on October 17, 2022 at $8.74.Core Molding Technologies Inc operates in the engineered materials market as one operating segment as a molder of thermoplastic and thermoset structural products. It produces and sells molded products for varied markets, including medium and heavy-duty trucks, automobiles, power sports, construction and agriculture, building products, and other industrial markets. The processes include compression molding of sheet molding compound (SMC), resin transfer molding (RTM), liquid molding of dicyclopentadiene (DCPD), spray-up and hand-lay-up, direct long-fiber thermoplastics (D-LFT) and structural foam, and structural web injection molding (SIM). It operates in Columbus, Ohio, Columbus, and Batavia, Ohio; Gaffney, South Carolina; Winona, Minnesota; Matamoros and others.