Park-Ohio Q1 net sales up 18% to $423.5M; GAAP EPS $0.61 (+103% YoY); Adjusted EPS $0.72 (+41%)

PARK OHIO HOLDINGS CORP

2023-Q1 EPS reported $0.47 revenue$423,500,000

Net sales $423.5M (+18% YoY); gross margin 15.8% (up 250bps); operating income $20.2M vs $5.4M Q1 2022.
GAAP EPS from cont ops $0.61 (up 103%); adjusted EPS $0.72 (up 41%).
Supply Technologies sales +16% to $195.8M; Assembly Components sales +13% to $110.4M; Engineered Products sales +29% to $117.3M.
Capital equipment backlog $175M at March 31, 2023; Q1 bookings $52M.
Full-year 2023 outlook: revenue growth 5-10% (bias to high end); expects improved EBITDA, free cash flow, adjusted EPS.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARK OHIO HOLDINGS CORP reported first quarter of 2023 results: revenue $423.5 million, net income $7.5 million, EPS $0.61 per diluted share.

Period: first quarter of 2023
Revenue: $423.5 million
Net income: $7.5 million
EPS: $0.61 per diluted share
Result: reported results

Exact text from the filing

In the first quarter of 2023, net sales from continuing operations were $423.5 million compared to $357.7 million in the 2022 period, an increase of 18%.

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Source: SEC EDGAR

accession 0000076282-23-000019

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