CMT - Earnings call 3 2023 | Core Molding Technologies, Inc.

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Operator

Good morning, everyone. Welcome to the Core Molding Technologies Third Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I will now turn the call over to Sandy Martin with Three Part advisers. Please go ahead.

Sandra Martin

morning, good and you, everyone. Thank joining We Technologies the Molding for call appreciate to XXXX. you conference for review Core results us third quarter

and via call and is the the webcast Relations and EVP on Events today accessed being link CFO, CEO, through on be President Investor coremt.com and This me and audio Dave Presentations Zimmer. Joining John page. can Duvall; an call company's are the

information reading. advised may the including session today's be safe that Q&A Reform Act as expectations and any the be the forward-looking in including statements remind replay Litigation time-sensitive that events harbor facts, also Private longer Today's of made conference call, Securities performance, statements historical statements or to of no recorded. will that to accurate I be pursuant provisions are made are any Please or of the like the are or discussion you date of or would not future future XXXX. financial transcript

Forward-looking risks nature, are described from outside our forward-looking factors results implied. control. today and statements, earnings Exchange release by company's detail Please company's other are issued statements. Commission. may materially with or expressed the the on press those and filings for their to of and Actual the differ uncertainties disclosures the refer in These uncertain in Securities and

the EPS, our measures, on adjusted update be to release. any return at end statements forward-looking Reconciliations nearest including will EBITDA, flow to to revise earnings no measures or the Molding obligation non-GAAP assumes of can employed. Core Technologies publicly. Management free found capital refer GAAP and adjusted cash

on the X-K. has Finally, also a release the copy been Form submitted to of SEC press

to Dave? turn now the to call like And Dave would Duvall. over I

David Duvall

and thank Thank you, our third for you quarter Good call. earnings morning, joining Sandy. everyone,

received quantify demonstrates their systematic our Core's this it sustainability X couple of and the environmental gas call reduce directly employees, greenhouse approach This responsibility a award proposition that stewardship, and supports of Award customers to visible EcoVadis believe weeks A quarter. our to few our accurately accomplishments and today's Scope our ago, achievements. start recognition communities reminder We our me Let to ongoing environment. value the the is during a driving we Bronze of with in are emissions. to

also proprietary were for for CAMX Composites in X X Excellence at award of in technology Expo The engineering We demonstrates this materials Material our in one composite finalists halls. Advanced to Composites annual we and the the combine unique Atlanta. optimize the cost. watercraft and recognizes design improved for competition personal different year's and of features customers' molded produce use ability to to It our performance award

technical organization. These are we Molding important and sustainability proposition strengthening that through solutions Core continually strong value recognitions in of our our are efforts

executing thank our our want for in people I single As team to shared always, of every business vision and hardworking Core's for growth talented improvements driving day.

organization. teams we Our a together learning culture purposely within to continually most transparency, are values makes a and drive that our culture competitive This challenge. advantages important openness difference and talented and this and working

technical to growth; three, day strategic cash four, execute every the strives X one, driving flow. revenue team generating solutions Our two, company's initiatives: and profitability enhancing sales;

XX% now specific Must a year-end. the leverage improvements. knowledge ability by With like XX% accelerates year. I'd well, to company-wide facilities to targeted plans to the our significant lines, achieve will it those sharing that improvements productivity operational scale excellence operational be system overall our Win improvement all a achieved and Battle report operating We've drive Along and to this in complete will by October

it year, allows better to challenged allowed that and it key put better by us performance those resources gross operational capacity directly us free the ago. to integrate Just is leverage to Win four, improving and a in margins, up of to it technical of process locations finish Must up execute implement XXXX, were holistic our level our goal. excellence which an additional at It knowledge on the the importance year throughput, to a in a this a which strategic provided all acquisition improved locations Battle

the performance areas a business clear is organization's improve to organization. necessary I excellence significantly integrate in initiatives, key execute creates our system ability Having which of will strategic technical ability of our believe in resources the our execute across this quickly acquisition. all efficiently turn to and improved a common an example

results. to Turning quarter our third

our As over XXXX. this year, XX% quarter earlier over up were we Xrd discussed XXXX sales product

historical product sales half XXXX, So to they that we did. return and would likely anticipated seasonality, second

Although down will a add our like make in John the were year, details third tell story. initial prior from does moment, quarter product comments. million this would XX.X% to I whole but sales this to some of not $XX.X

key points strength We grew the gross business one improved leverage. quarter business. focus I the XXXX. in this XXX representing lower resiliency quarter, margins enhancing cost -- believe gross the margins third that of XX.X% our This was by basis is to and areas third results the our proves for And fixed transformation of despite

direct improvements our executing gross strategy. of Our margin this year result are the purposely

customers to strategically. Most improved we point, operationally the believe some continually advantage margins affect rates cash capacity growth important going at always were technical solution the multiyear well programs through management for an flow future. of single-source interest while tooled years. we're on is incremental profitability rising deliverable, revenue structured it produce enhanced several margins, prepared our take efficiencies we for production us laser-focused operational Although deliver and on and financially, sales demand to also and that revenues, products and to also are driving We better winning suspected of for

levels approximately months programs launches team for including several new over volume XXXX. of Full these customers reoccurring the building and up revenue in Specifically contracts products, signed next Technical end years. growth, power will totaling this new relate XXXX million, on replacement and work new transportation $XX ramp during with programs sales X annualized through to first our that sports. in planned industrial, year These the primarily markets, contribute will and Solutions from

signed We continue similar long-term to year, see opportunities reinforces of current potential. this we which the pipeline growth our a solid opportunities sales to

to tool and since end growing expand excited with and they business solutions. further especially markets diverse into are launch programs, engineered these We our

Finally, Mexico customer. regarding cost, this raw install with our pounds while a regrind customer and production we material. partnering to currently process a our several and on of efforts, are material to will reduce sustainability to X Based reduce plans our providing cost over material million Matamoros, production our the systems both years, will full next waste over and our reclaim value from raw process at reclaim our plant. This processing

traditional to or our our develop use recyclable continue to a with away store materials. or recycled work customers material We conversion from -- increase usage from of solutions

strategies long-standing who important to capacity us to their blue unique our our customers, to aligned solutions have as processes. by provide and source chip deploying are customers extensive our critical portfolio technical rely We expertise and This single of on components. of supplier

how sustainable relationships see our to for shareholders. build to value customers, and continue and long-term employees solution We

financials now John turn With I'd that, more the like to to in it to detail. over cover

John Zimmer

everyone. and Thank morning, good you, Dave,

year, are more last approximately decline revenues Combined, the the in increase position quarter, last more higher As we third year XX% return And product demand. customers inventories overbuilt from noted to still this quarter's optical XX.X% inventory revenue up from product levels. Last line. historical impacted certain we our are top are seasonality with a industries, in this year, customers levels those year, through or an working XXXX saw rebuilding against inventories. and their depleted XX.X%

levels levels where quarter of medium Our this production inventory trucks, product and down heavy-duty were management sectors in sales increases impacts. by remained due macroeconomic and include end while other market strong, to

diversification one company's as taken revenue. industry industry industry to impact the are we overall ongoing Our changing as any working by efforts planned, demand advantage of the minimize and have of

the company's want quarter work trailing totaled this notch Our through million, focus higher year. TTM further ever than This conviction history. to last team our give and in to us $XX.X hard the is third congratulate quarter's I our and XX-month on continues another EBITDA that the on operational this their adjusted intentional and highest improvements progressing, last quarter

results. financial our to Turning

discussion million were year. Product $XXX.X were the compared return million net year sales our this with to XXXX a XX.X%, historical difficult coupled quarter down Third on around more to sales largely seasonality based $XX.X ago. comparisons,

for or XX.X% of sales to sales rose million of third quarter or quarter. compared XX.X% to the $XX.X $XX.X year Gross million in profit the prior

XXX improvement the point this basis prior over Dave As was a year. mentioned,

the cost fixed were XXXX currency quarter, which and gross During material Xrd production positively margins, foreign efficiencies offset cost leverage. by impacted and somewhat

quarter against peso negative the the continue third this the at to XX in had gross to margin. a time, We last on compared basis points which impact year U.S. of weaker dollar see

we're overall, As we currency by actively the stronger a foreign but noted, peso. our portion Mexican previously of still impacted hedged exposure,

[ our Cobert preparation This of doubling in presses, was $XXX,XXX the the press in quarter increases for size in prior facility, facility $X.X expenses launched our business to new quarter of a the due facility the Monterrey of mostly XXXX. the ] compared onetime we to third in from presses The the X Selling, year. XXXX. as $X.X in general administrative to in of acquisition cost to press and moved XXXX, the Monterrey being number increase of since were million million Monterrey the move

ago last company XXX the margin $X.X X.X% year. sales, quarter, operating focus basis income year's operational from or improvements earn allow generated reserves. has million or up operating credit versus reported interest borrowing to the line expense us The million net to points on our of this and has decreased cash year cash $X.X of income of to on eliminate XX%, flows income our on as free to interest Compared

the which [indiscernible] rate where the tax the XX.X%, from for quarter tax consists operate. effective weighted jurisdictions we Our costs of third was tax primarily

EPS Net $X.X versus year's $X.XX. per or last diluted diluted share income $X.XX million was of

press basis up year quarter from Excluding of margin this debt the share onetime year, EBITDA up XX.X% diluted from our EBITDA the in of last from EPS points this of was year, diluted share $X.XX ago year was and sales, Adjusted onetime excluding $X.X quarter. extinguishment prior $X.XX move or year, per for X.X%. XXX the per loss million adjusted cost

and our gross actions with income, year-over-year pleased on strategic and in operating EPS are based We initiatives. EBITDA our improvements adjusted margin,

Our can at end be of the to release. GAAP reconciliation non-GAAP found tables press our

Gross Now sales margin year XX.X% down versus prior XX.X% the million product year a X.X% turning period. million, September Net of the of were or ended to versus period. flat or ago, XX. million to year the sales sales $XX.X ago sales essentially $XX.X was were $XXX results for months and in compared X

due X months, primarily first to margin raw and material the net production were For and favorable efficiencies improvements pricing costs. customer

$XX.X driven $XX.X expenses the by the in higher compared year company's due SG&A costs in costs to and labor prior XXXX. million to million bonus period, performance were largely improved

compared share months million $X.XX to $X.X first Net up $XX.X or from sales $XX compared was comparable the $XX.X the XX.X% period. or for X per for the was million, million XX% levels. in or income share income $XX.X the year X.X% diluted prior to in or first million year. diluted months million Adjusted was Operating per $X.XX X of XXXX EBITDA

our A to to Workers ] strikes, on QX. produce based macroeconomic similar the which historical year inventory well as which been has the prior the the at Volvo in forward quarter, seasonality impacted end to impacts division demand are recent on UAW resolved. industry not Mack, ongoing for of we customer to around for Looking quarter, still And expecting GM impact soften strike of ] has products end from include transportation, events company's the finally, forecasts, the which Ford market versus as activity, [ and demand. mostly fourth the the fourth Auto we vastililization customers' revenues [ Mack return projections United

XX% XXXX to year we compared quarter projects XX% fiscal XXXX Company into XX% revenues we levels. the be as If quarter down the complete ago to year X% fourth to this to down range, revenues fourth with to much currently in quarter. went as compared

year in a fourth anticipate mix, margins year and expect to fixed We margin to of of gross cost by quarter XXXX will volume be changes product shifts XX.X% range the compared gross full gross full leverage, the XX.X%. margin impacted produce lower seasonal to XX.X% in we from that which

September starting Turning company's operating XXXX. compared with to XX, same for a of discussion of XXXX, was period activity financial million The now million position, cash the ended provided for $X.X $XX.X flow. company's months to the the by cash X

has cash higher as on our to operational occur. improvements, profitability also resulted Our which flowed we has in would through flow expected generation XXXX focus

and million months Capital year first for were expenditures were flows of the for so the XXXX $X.X far $XX.X million. free cash X

managed expenditures million We and 'XX flow in flows XXXX carefully. continue expect generate of to We to capital the -- million of to as $X remainder year. for for capital working the range cash the to continues free now $XX the be [ outpace capital operating should year, ] expenditures cash expect

At liquidity capital [ includes cash million available September under XX, equivalents $XX credit which of and million, million and revolver the and of company had $XX the ] cash available lines. $XX

term debt to was debt was September, our X.XXx. $XX.X company's EBITDA of million at ratio and The trailing the end XX-month

Our as managed of be working to well capital continues September. netted million and to end the of $XX

Finally, return pretax return employed, metric is XX.X% targeted a our range XX-month XX%. on on was of XX% to capital which a basis, above trailing our

We our a and and ample returns strong and are good make liquidity sheet flows, strategic ability fund decisions. maintaining to pleased the with to generate balance while cash business

targets earlier. there. And slow have strategic remains as attention about, we our and on from down goals, all full Our the X objectives initiatives talked Dave that growth mentioned

continue initiatives. on we Our and operational are established, work to improvement performance continuous enhancements

to we changing how and add capacity carefully continue consider and base, diversify augment acquisitions, environment. processes As in a to we our customer footprint evaluate our economic

focus Our build value and goals continues long-term flows. and cash team entire shareholder to profitability growth on generate that

that, to Dave would some With it back like final for I turn to comments.

David Duvall

John. XXXX. for you, A our comments outlook Thank on few

that to negatively to headwinds, for focus of end in a impact continuation our on XXXX. continually diversification our margins. the cyclicality enhance solutions is continue to revenues and macroeconomic of goal engineered Based revenue information life anticipate to could value Our earlier on we of compared certain programs truck XXXX, industries

a in still cyclical truck North half to Industry makes Class truck XXXX, rebound projections to forecast our for the demand market, [ compared of for revenue, XXXX. in expectations X XXXX correction approximately up American which with ]

on diversification reduced we to It to the customers' rates, Our market our truck point. has efforts exposure have but impact demand. higher some at a with our interest cycles, downward anticipate

acquisitions diversified We projections, expect attractive our based to growth consolidate continually support seek on operational sales anticipated adjust improvements and our cost structure to goals.

and require take of to strategies. infrastructure various from full We industries advantage government-driven or arising want government-funded solutions, also projects opportunities that better new including sustainability

industries. in believe long-term U.S. manufacturing, products we still and demand growing of over by improvements as infrastructure have our believe overall several will onshoring industry provide there years. the We long-term growth many services across goals We that increased next and be driven demand

acquisition As strategy, discussed M&A quarter, last we our are timing and finalizing pipeline.

against Given appropriate it's size analyze important that requirements. strategic the criteria we our the carefully our of set valuations acquisition company, and

timing. strategically have excited are organization for As growth acquisition, by we stated earlier, we our prepared and about the

have investors further the especially We company, expand diversify the that in while to past the acquisition, not communicated we an challenging add we plan serve, in our industries to macroeconomic and capacity process environment. offerings a over-leveraging through

both will our and and with operational our We capabilities focus to a in use in increasing also improvements capital automation people, continue invest sales technical on engineering. to

future. to sheet year Our plants has the improvements challenges been about for some compound immediate gain to molding this Must fixing core more in margin and importantly, Battle [indiscernible] the Win organization prepare

This capacity in of is increasing the current for all excellence the With and in resource scaling improvements focus can before foundational systematic level a next technical investing operational locations. machine we growth. across our on place, systems now step

are pleased by with will XXX accelerate and our an highest In summary, TTM gross our long-term We executing recording basis we investing value and organization significant for positioned margin for strategy, is creation. basis QX EBITDA and historical well results the believe our excited people by continually dollar our in relentlessly adjusted on improving growth, that points, we creating future. our that a

us like plan advisers meetings out Please Finally, or follow-up call. you as November reach investors Three host Dallas Southwest present part Part to XX if a of IDEAS the we would with on in and Conference. to

to questions. the open With Operator? line that, like for I'd

Operator

ladies begin E.F. Tim session. our and question-and-answer today from question with first [Operator Moore comes Instructions] gentlemen, And will Hutton. We the now

Timothy Moore

you helpful When the impact but late it's margin your of can December? It's mean, your drag, you that do maintain of this on UAW you do think despite might range you the that really the for your strike full gross you know won't commentary. think know full guidance impressive year I impact sales? still

John Zimmer

is -- Volvo, the of UAW think we Mack, on recognize the is customers. I a of which major major of pieces division but strike Tim, of in deal Yes. to also auto, actually is one one which we that is that with our

settled strike watching that. have so this so And not we're point, they at their and

will auto coming we kind I back effect They're we that Mack now. this work. and But back point. do to in the that, stuff think, of auto settled online in The kind start at back been, some will up, think and has have has guys ramping theirs not been that of we did of October,

Timothy Moore

enough. Fair

David Duvall

talking we Volvo, producing now point roadblock talking at with forward. a continue now, until In strike. But the and engines. in they that them is what to they're driving can It's don't doing the resolve have everything they with -- where know they they're right

Timothy Moore

Yes.

I curious, mean, think try March Just for have in some you questions, but you not year? there flat think theoretical of UAW sales I if kind strike, sales you recover those to of ask expected you a Do wasn't this product would still quarter? would Mack do

John Zimmer

Yes. hope sales those the industry. recover would Again, we that I can Mack think in

so million -- on somewhere -- us. QX that million UAW sales had in $X sorry, think between probably we And strike the impact or of $X and QX

estimate impact So $X million strike if or it but somewhere settle Mack the a depends $X they strike. was again, strike and the UAW when that between settles as we part million on actually of timing, kind of the of and

Timothy Moore

know or X that should to in past there it's the mentioned I SG&A was it August about was And that expense X.X% a know X.X% how helpful. variable quarters, expense. That's conference the I typically the sales as but mean you percentage compensation X.X% XX%. think uptick caused going on we SG&A then John, call I forward? running of an

John Zimmer

Yes.

were around SG&A be this to with our out if other million you we quarters. I back quarter, which $X.X quarter, again, is consistent going again this compensation, think the of

get a down include does to some new that of onetime to that's move, press Monterrey the $XXX,XXX a programs as year. move Now watching next plant press that

And million out the try we for the that. continue of so target look we $X running for as to We first quarters million SG&A around bonus costs forward, to XX%. we move term, if without probably $X.X are quarter at impact. Long our always around versus back that X that, you

the sales that a And adjustments to so try as SG&A forward. recognize go and bit, down are we we make if little to

So -- we're a and bonus. at where million between we're is $X probably without but $X.X running quarter million right now,

Timothy Moore

That's how is, kind of do are today? inning next sixth the question the I on is those -- helpful. on that Or you My are think I for mean you along improvement? fully mean as far selling of you implemented that price prices company-wide?

David Duvall

one that on, working this still We contract we're Yes. finalize beginning have we'll other next of year, that year. and

Timothy Moore

rest much quarters. Okay. been basis past have implemented on The pretty rolling a few the

David Duvall

is we've the on we're all So of the that now, one our customers. large been last This one contracts. through working other right

Timothy Moore

Great. questions. And X actually, more

kind For Dave, too what would use you to long. in might have you say [indiscernible] the adding of -- be you're

saw when had member On they'll looks operational along operational like manufacturing done? And you experience but [indiscernible] on in appointment, the a do mean I do you operational think improvements, think improvements? Board I far be some new are efficiency efficiency and you you the Canada how Mexico,

David Duvall

Yes.

when on forecasted That XX% about X X focusing the done predicted really improvement. we SMC focus be plants, was talk well the Battle, majority-wise. Must Win that was or we'll the on So

So at that we'll have now. that. We're

continuous a those. into moving is really, consolidating improvement So and we're corporate-wide what

So be it per XX% it's per ongoing, will plan. not but year

Timothy Moore

in And opening color. about your helpful a you acquisitions. That's last mentioned commentary little about bit some remarks this my is, question then

from is And X a allocation just acquisitions out long -- to given acquire equipment? have you kind Or list X there's process and to remind not you do to think still seeing press. going for what you you're there? prices? are probably to Do can availability capital Just much us, wait that of priority such the

David Duvall

site the all the year you're capacity to the to order talking big Yes. about point from That's site time and a endeavor. a a equipment, by greenfield relative if you the install build you're trying multiple

composites previous products. to, I cross-sell And really sales similar guess what with we're it's tuck-in we're say, at I or channels looking through and what is, able can bolt-on because million. $XX our acquisitions to really, that other did $XX sell anywhere then also the call million, get, processes into we acquisitions, customer multiple what about we up and So to

Timothy Moore

very That helpful. Great. was

Operator

our Corp. Value comes Jeff Global question And with Geygan next from Investment

James Geygan

visibility time I'm your what here. curious, inventory you of do your customers' type have levels? Appreciate into

John Zimmer

direct go that I don't that have we don't know a data would visibility. into have say we directly sets them. We

that so little as past you I think out or into of a way provide change. getting. gets one do we've data about before. lot feedback not EDI guaranteed that -- it the out They month, it a demand And we're us future. get a EDI, the is other. And talked can It's bit

so we of some is and do have quarter said, to this that And ourselves. us ahead come what during we customers know got

we quarter And a taking this year. first as into the aren't so maybe much bit least product, quarter, in at of little and next

nice thing Now we get to -- we're close the and again, taking start is that we stay this a for is issue short-term again. inventory sales the that what them, is they'll hoping through them

for itself sales so that period of time. really of And a a that correction work out. away, period has gone It's a not will it's it time

them with year, in work the first and first through going back hopefully sometime next be get then this quarter the quarter in we'll second. so with the into And year and and those next on

David Duvall

when inventories job between Yes. industrial it's you At our especially inventory looking because long sites start good inventory. such you it, you the a at a and the It's or on point. -- utilities, It's have chain when warehouses. and see location at supply

throughout supply business and the made levels So end looked but what had a their year, the chain correction, is still at I the think there. the they had at of inventory

the of it's inventories their year. more end the adjusting think I of a at matter

James Geygan

it. appreciate I right. All

You've to about talked your exposure reducing repeatedly truck.

today? that expect basis? look a last ported out, do is that And that might like what forward the to Where XX% you think I have on time been tend you revs. of

David Duvall

sales between personal part we that the at beginning continue. building up on XX% when it's strategy. beginning at the products. vary trails end depending especially of in We that the of will It of the the and to, say, see don't other up picks Yes. the start watercraft mean you year, the same XX% of year channels, off at seeing the the year, with I

John Zimmer

one long-term that think, to pieces in just was is of Jeff, the do our get strategy of was I And to truck business. never It profitable out.

I we just think as a on. fixed right business that actively have added now. one that that couldn't came we And bit still turnaround, working contract we of we're working the out of realized to gets pricing, profitability. we on get we we've Dave the had of It mentioned majority we on that, really hopefully, we're little additional think

term, did one-sided we for -- both think So as just probably years we're that ago. mindset are we've programs good is with long contracts It's we new really different do got We're partners. truck business where on that looking aren't profitable X we're bidding truck. we with than business a are to

do really changed we And just is so it's I in change that that out, our good think versus we truck only us money we'll a getting strategy make has think can strategy stuff on. business totally

James Geygan

in QX roughly maintaining the gross margin does in XX%, imply XX%, gross your in your X% that thought down I anticipated at fiscal What QX? John, your revenues XX% said that range. XX.X% margin to to guide of down XX.X% your year With point, you to you for

John Zimmer

And the to XX.X%. probably at little -- us to gross a to do you leverage. be bit, math, XX% XX% that's if of think XX.X% puts I just margin it going mean I a

-- do starting cost reduce are always XX%, is cost XX% of we've We talked to our we structure. about is our can what our somewhere variable between

next, costs quickly very off on take plants can to time cost. are of labor some been comes And at Taking types of moving a we've so week quickly. so that where those down, material reduce some that. able we things, we very reduce Direct and they the

have -- the takes a think really, little bit long-term grow. to very piece that a is we workforce. won't But term company adjust wouldn't more have think we where continue to long, the seasoned fixed going because long got we We term, reduce cost, want we of problem significantly really to -- and adjust the real good get unless one we don't and to is long a a that we

lost issue leverage in in the than margin else certainly so more is QX. anything And the probably QX that's

James Geygan

for And you guidance When last question. do or beyond? XXXX anticipate providing

John Zimmer

Yes.

in. of XXXX, getting So still we're a data lot

at think or which definitely be early warranted the before time If between. we that but first the significant would in have discussion not year-end quarter, we out there's we would our come and released were -- first March, a do anything back I would that, results, it.

now going in right deck of America. me customers lot got right front which we we the came have much they major telling as States But they're our in are economy they're they where right now is of retail United a the of situation is customers North demand on said as I in and watching out some us -- that and have one watching us. the Polaris,

come again, we by I you're if the release guys. and that the major tell So between data we in and think we will out earnings definitely time you around would But have do the now better XX-K, something then, there's March.

James Geygan

that. with done do your say have you pillars. appreciate I X what you've exactly Yes. I intend to you've to said

Your forward execution has some been to when making acquisitions. look excellent. what I you seeing do begin you

forward. the thought good very I you and go good luck it for thanks So as was commentary,

David Duvall

Thanks, Jeff.

John Zimmer

you. Thank

Operator

all that's have time for gentlemen, session and the today. we Ladies question-and-answer

the So remarks. to back to for over team I'd final any conference the management turn like

David Duvall

look to March. you. call the and for call, So, thank in next we conference joining Thank you our forward

Operator

sir. call. you, for you today's all concludes today's conference attending This We presentation. Thank thank

You may now disconnect your lines, and have a wonderful day.

Core Molding (CMT) 7 Nov 232023 Q3 Earnings call transcript