Park-Ohio Q2 2023 Earnings Report
Key Takeaways
Park-Ohio Holdings Corp. announced record net sales of $428 million for Q2 2023, a 16% increase compared to Q2 2022. The company's GAAP EPS from continuing operations increased by 10% year-over-year to $0.57 per diluted share, and adjusted EPS increased by 69% year-over-year to $0.83. The company has raised its revenue growth outlook for 2023.
Net sales increased by 16% to $428 million compared to Q2 2022.
GAAP EPS from continuing operations increased 10% year-over-year to $0.57 per diluted share.
Adjusted EPS from continuing operations increased 69% year-over-year to $0.83 per diluted share.
Gross margin improved by 190 basis points year-over-year to 16.4%.
Park-Ohio
Park-Ohio
Park-Ohio Revenue by Segment
Forward Guidance
Park-Ohio expects revenues from continuing operations to increase 10-15% year-over-year, driven by higher customer demand and strong capital equipment backlogs. They also anticipate improvement in adjusted operating income, EBITDA, free cash flow, and adjusted EPS in 2023.
Positive Outlook
- Higher 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