Core Molding Technologies Says Our Outlook For Q4 Anticipates A Return To Historical Seasonality And Customer De-Stocking, Along With The Impact Of UAW Strikes At Customer Locations In Q4, Is Expected To Result In Sales Declines Of 15%-20% From Q4 2022
Portfolio Pulse from Benzinga Newsdesk
Core Molding Technologies (CMT) anticipates a return to historical seasonality and customer de-stocking in Q4, along with the impact of UAW strikes at customer locations, which is expected to result in sales declines of 15%-20% from Q4 2022. The company targets gross margins in the 17.5% to 18.5% range for fiscal year 2023, and full-year revenues may be down 5% to 10% compared to fiscal year 2022.
November 07, 2023 | 1:57 pm
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CMT expects Q4 sales to decline by 15%-20% due to seasonality, customer de-stocking, and UAW strikes. The company also anticipates a decrease in full-year revenues by 5%-10% compared to FY 2022.
The company's anticipation of a significant sales decline in Q4 and a potential decrease in full-year revenues could negatively impact the stock price in the short term. The impact of UAW strikes at customer locations could also add to the uncertainty surrounding the company's performance.
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