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Park-Ohio
🇺🇸 NASDAQ:PKOH
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Jun 30, 2022

Park-Ohio Q2 2022 Earnings Report

Park-Ohio reported strong Q2 2022 results with revenue up 22% and GAAP EPS of $0.08, driven by strength in Supply Technologies and Engineered Products, while Assembly Components was impacted by restructuring and raw material costs.

Key Takeaways

Park-Ohio Holdings Corp. announced strong second-quarter results with a 22% increase in revenue to $428.6 million and a GAAP EPS of $0.08, compared to a loss of $(0.44) in Q2 2021. The company's performance was driven by strong results in Supply Technologies and Engineered Products, while Assembly Components results were impacted by restructuring and increased raw material costs. Two acquisitions in the Supply Technologies segment were completed.

Q2 2022 Revenues of $429 million, up 22% from Q2 2021

Q2 2022 GAAP EPS of $0.08 compared to a loss of $(0.44) in Q2 2021; Adjusted EPS of $0.21, up from a loss of $(0.33) in Q2 2021

Strong results in Supply Technologies and Engineered Products; Assembly Components results impacted by restructuring and increased raw material costs

Completed two acquisitions in our Supply Technologies segment

Total Revenue
$429M
Previous year: $350M
+22.5%
EPS
$0.21
Previous year: -$0.33
-163.6%
EBITDA
$24.9M
Previous year: $12.3M
+102.4%
Gross Profit
$49.8M
Previous year: $39.9M
+24.8%
Cash and Equivalents
$61.1M
Previous year: $55.3M
+10.5%
Free Cash Flow
-$38.1M
Previous year: -$41M
-7.1%
Total Assets
$1.42B
Previous year: $1.35B
+5.3%

Park-Ohio

Park-Ohio

Park-Ohio Revenue by Segment

Forward Guidance

For the full year 2022, we continue to expect revenues to be at record levels, with revenue growth of approximately 15% year-over-year driven by strong customer demand in each segment. We also continue to expect significant improvement in profitability for the full year 2022 compared to 2021, and improved adjusted net income in the third and fourth quarters compared to the second quarter of 2022. However, given continuing macroeconomic headwinds from demand volatility, inflation and supply chain constraints, we will not provide further guidance at this time.

Positive Outlook

  • Revenues expected to be at record levels in 2022.
  • Revenue growth of approximately 15% year-over-year expected.
  • Strong customer demand in each segment is driving revenue growth.
  • Significant improvement in profitability for the full year 2022 compared to 2021 expected.
  • Improved adjusted net income in the third and fourth quarters compared to the second quarter of 2022 is anticipated.

Challenges Ahead

  • Continuing macroeconomic headwinds from demand volatility.
  • Inflation.
  • Supply chain constraints.
  • No further guidance provided due to macroeconomic headwinds.
  • Assembly Components results impacted by restructuring and increased raw material costs

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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