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Mar 31, 2024
Park-Ohio Q1 2024 Earnings Report
Park-Ohio's Q1 2024 results reflected improved earnings quality and alignment with expectations, despite a slight decrease in net sales.
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
Revenue by Segment
Supply Technologies Revenue
CapyFin.comAssembly Components Revenue
CapyFin.comEngineered Products Revenue
CapyFin.com 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