Park-Ohio Q1 2020 Earnings Report
Key Takeaways
Park-Ohio reported a decrease in net sales to $366.3 million compared to $420.1 million in the same quarter last year. GAAP EPS was $0.10, and adjusted EPS was $0.13. The company's performance was significantly impacted by the COVID-19 pandemic, which weakened demand in several end markets and led to temporary idling of operations. The company is focusing on cost reduction and liquidity management.
Q1 2020 revenues reached $366 million.
Q1 2020 GAAP EPS was $0.10; adjusted EPS was $0.13.
Liquidity position as of March 31, 2020, totaled $237 million.
Quarterly dividend was suspended to enhance liquidity.
Park-Ohio
Park-Ohio
Park-Ohio Revenue by Segment
Forward Guidance
The company expects a significant reduction in demand during the second quarter of 2020 and for the full year 2020, but the extent cannot be reasonably estimated. They expect continued softness in their end markets throughout the second quarter as these markets begin to recover.
Revenue & Expenses
Visualization of income flow from segment revenue to net income