Park-Ohio Q3 2024 Earnings Report
Key Takeaways
Park-Ohio Holdings Corp. announced its Q3 2024 results with net sales of $417.6 million, a gross margin of 17.3%, and adjusted EPS of $1.07. The company saw improved profitability driven by the Supply Technologies segment and higher sales in the Engineered Products segment. They anticipate modest growth in Q4 and into 2025, along with continued debt reduction.
Net sales were $417.6 million compared to $418.8 million in Q3 2023.
Gross margin improved to 17.3%, up 60 basis points year-over-year.
GAAP EPS from continuing operations improved to $1.02 per diluted share compared to $0.99 in Q3 2023.
Adjusted EPS from continuing operations was $1.07 per diluted share, up 8% vs. $0.99 in Q3 2023.
Park-Ohio
Park-Ohio
Park-Ohio Revenue by Segment
Forward Guidance
For 2024, Park-Ohio expects revenues to be 1%-2% above 2023 revenues, adjusted EPS to increase more than 10% year-over-year, and EBITDA to approximate $150 million, an increase of 12% compared to 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income