Columbus, Ohio – October 16, 2026 -- Core Molding Technologies (NYSE American: CMT) has authorized a stock repurchase program of up to $7.5 million of its issued and outstanding common stock, which has a par value of $1.00 per share.
Board approval sets a $7.5 million ceiling on repurchases
The Board of Directors approved the program. Shares will be bought in the open market in accordance with applicable securities laws.
The program does not obligate Core Molding to acquire any particular amount of stock. The company may suspend or terminate it at any time at its discretion.
Incoming CEO Eric Palomaki links buyback to balance sheet strength
Eric Palomaki, Chief Operating Officer and incoming Chief Executive Officer, said the authorization reflects the company's strong financial position and its confidence in long-term growth prospects. He also said it reflects a commitment to enhancing shareholder value.
Molder serves building products, utilities, trucks and powersports across three countries
Core Molding makes molded structural products. Its principal end markets are building products, industrial and utilities, medium and heavy-duty trucks, and powersports, across the United States, Canada and Mexico.
The company's forward-looking statements flag several risks. They include dependence on certain major customers, raw material availability and price increases, new or increased tariffs, and safety and security conditions in Mexico.