Park-Ohio Q1 2023 Earnings Report
Key Takeaways
Park-Ohio announced strong first quarter 2023 results with net sales of $423.5 million, up 18% from Q1 2022. GAAP EPS from continuing operations was $0.61 per diluted share, up 103% and adjusted EPS from continuing operations of $0.72 per diluted share, up 41% compared to Q1 2022.
Net sales increased by 18% to $423.5 million compared to Q1 2022.
GAAP EPS from continuing operations rose by 103% to $0.61 per diluted share.
Adjusted EPS from continuing operations increased by 41% to $0.72 per diluted share.
Gross margin improved by 250 basis points year-over-year to 15.8%.
Park-Ohio
Park-Ohio
Park-Ohio Revenue by Segment
Forward Guidance
The company expects revenues from continuing operations to increase 5-10% year-over-year, with a bias towards the high end of the range, driven by increased customer demand and strong capital equipment backlogs.
Positive Outlook
- Increased customer demand
- Strong capital equipment backlogs
- Improvement in adjusted operating income
- Improvement in EBITDA
- Improvement in free cash flow and adjusted EPS
Revenue & Expenses
Visualization of income flow from segment revenue to net income