ParkOhio Q2 GAAP EPS loss $0.44; revenue $350M; guidance cut on chip shortage

PARK OHIO HOLDINGS CORP

2022-Q2 EPS reported $0.02 revenue$709,600,000

Net loss $5.3M ($0.44/diluted) vs loss $16.6M ($1.38) year ago; adjusted EPS loss $0.33 vs $1.17.
Revenue $350M, up 53% from $228M in Q2 2020; semiconductor shortage impacted sales ~$24M.
Assembly Components segment operating loss $6.1M; plant closure charges $0.8M incurred.
Full-year EBITDA margin outlook lowered to 100-150 bps improvement (previously 150-200 bps).
Working capital increased $37.7M due to inventory build; free cash flow now expected to use up to $15M.

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