Park-Ohio Q4 GAAP EPS -$0.58; full-year adj. EPS $1.76; plans to sell Aluminum Products

PARK OHIO HOLDINGS CORP

Q4 net sales $381.6M (+17% YoY); GAAP diluted EPS loss $0.58; adjusted EPS loss $0.09.
Full-year 2022 net sales record $1.5B (+17%); GAAP EPS $0.83; adjusted EPS $1.76.
Supply Technologies sales up 18%, Assembly Components up 13%, Engineered Products up 17%.
Discontinued ops (Aluminum Products) net loss $16.9M in Q4; entered MOU to sell; received $20M cash.
2023 outlook: revenue +5-10% YoY; expects improved adjusted income and free cash flow.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PARK OHIO HOLDINGS CORP reported the fourth quarter of 2022 results: revenue $381.6 million, net income loss of $7.0 million, EPS loss of $0.58 per diluted share. Guidance initiated.

Period: the fourth quarter of 2022
Revenue: $381.6 million
Net income: loss of $7.0 million
EPS: loss of $0.58 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

In the fourth quarter of 2022, net sales from continuing operations were $381.6 million compared to $326.5 million in the 2021 period, an increase of 17%. Loss from continuing operations attributable to ParkOhio common shareholders in the fourth quarter of 2022 was $7.0 million, or $0.58 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PARK OHIO HOLDINGS CORP reported the year ended December 31, 2022 results: revenue $1.5 billion, net income $10.1 million, EPS $0.83 per diluted share. Guidance initiated.

Period: the year ended December 31, 2022
Revenue: $1.5 billion
Net income: $10.1 million
EPS: $0.83 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Full year 2022 net sales were $1.5 billion compared to $1.3 billion in 2021, an increase of 17% and a record for our continuing operations (which excludes our Aluminum Products business). Income from continuing operations attributable to ParkOhio common shareholders in 2022 was $10.1 million, or $0.83 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PARK OHIO HOLDINGS CORP updated its fiscal year 2023 guidance (initiated).

Period: fiscal year 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

Revenues from continuing operations expected to increase 5-10% YOY

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PARK OHIO HOLDINGS CORP filing history →

Source: SEC EDGAR

accession 0000076282-23-000012

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