Park-Ohio reports FY23 record sales $1.7B, EPS $2.72; acquires EMA Indutec for ~$14M

PARK OHIO HOLDINGS CORP

FY23 net sales $1.68B (+11% YoY); GAAP EPS $2.72 vs $0.83; adjusted EPS $3.07 (+74%).
Q4 net sales $389M (+2%); GAAP EPS $0.54 vs loss $0.58; UAW strike cut revenue ~$25M.
FY23 EBITDA $134.2M (+33%); operating cash flow $53.4M; free cash flow $25.2M.
Sale of Aluminum Products for ~$50M closed Dec 2023; loss on sale $23.6M.
Acquired EMA Indutec for ~$14M cash; expects >$30M revenue in next 12 months.

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 Fourth quarter and full year 2023 results: revenue Net sales from continuing operations of $389 million, up 2% year-over-year, net income Income from continuing operations attributable to ParkOhio common shareholders in the fourth quarter of 2023 was $6.9 1, EPS GAAP EPS from continuing operations of $0.54 per diluted share.

Period: Fourth quarter and full year 2023
Revenue: Net sales from continuing operations of $389 million, up 2% year-over-year
Net income: Income from continuing operations attributable to ParkOhio common shareholders in the fourth quarter of 2023 was $6.9 1
EPS: GAAP EPS from continuing operations of $0.54 per diluted share
Result: reported results

Exact text from the filing

ParkOhio Announces Fourth Quarter and Full Year 2023 Results and the Acquisition of EMA Indutec GmbH Fourth quarter: • Net sales from continuing operations of $389 million, up 2% year-over-year • GAAP EPS from continuing operations of $0.54 per diluted share, up from a loss of $(0.58) per diluted share a year ago

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Source: SEC EDGAR

accession 0000076282-24-000011

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