Park-Ohio Q1 2024 Earnings Report
Key Takeaways
Park-Ohio Holdings Corp. reported first quarter 2024 results with net sales of $417.6 million, a slight decrease from $423.5 million in Q1 2023. GAAP EPS improved 36% to $0.83, and adjusted EPS increased 18% to $0.85. The company's EBITDA increased by 19% to $37.8 million, driven by record operating profit in the Supply Technologies segment and ongoing profit-improvement actions.
Net sales reached $417.6 million, slightly down from $423.5 million in Q1 2023.
GAAP EPS from continuing operations increased by 36% to $0.83 per diluted share.
Adjusted EPS from continuing operations rose by 18% to $0.85 per diluted share.
EBITDA increased by 19% to $37.8 million compared to Q1 2023.
Park-Ohio
Park-Ohio
Park-Ohio Revenue by Segment
Forward Guidance
For 2024, the company continues to expect revenue growth in the mid-single digit range year-over-year and year-over-year improvement in EPS and EBITDA.
Positive Outlook
- Continued strong demand in most end markets in Supply Technologies
- Continued strong demand in most end markets in Assembly Components
- Strength of backlog in Engineered Products
- Expect revenue growth in the mid-single digit range year-over-year
- Expect year-over-year improvement in EPS and EBITDA
Revenue & Expenses
Visualization of income flow from segment revenue to net income