Park-Ohio reports record Q2 sales, GAAP EPS up 67% to $0.95, adjusted EPS $1.02

PARK OHIO HOLDINGS CORP

2024-Q2 EPS reported $1.68 revenue$850,200,000

Record net sales of $433M, up 1% YoY; gross margin improved 50 bps to 16.9%.
GAAP EPS from continuing ops $0.95 (up 67%); adjusted EPS $1.02 (up 23% vs $0.83).
Supply Technologies segment sales record $202.6M, operating margin up 160 bps to 9.4%.
Engineered Products record sales $126.9M, new equipment backlog $173M at June 30.
2024 outlook: revenue growth 2-4% YoY, expects improvement in adjusted EPS and EBITDA.

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