Park-Ohio Holdings Corp. Full Year 2024 Earnings Call Presentation March 6, 2025 Forward-Looking Statements and Non-GAAP Measures These slides contain forward-looking statements, including statements regarding future performance of the Company, that are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, Par Value $1.00 Per Share | PKOH | The NASDAQ Stock Market LLC | Securiti ...

Financial Data and Key Metrics Changes - Consolidated net sales in 2024 were approximately $1.7 billion, consistent with 2023 record revenues [9] - GAAP earnings per share from continuing operations increased 18% to $3.19 per diluted share compared to $2.72 last year [12] - Full-year gross margins improved 60 basis points to 17% of net sales [13] - Adjusted operating income was $94 million compared to $90 million a year ago, an increase of 4% year-over-year [14] - EBITDA as defined was $152 million in 2024, up 13% compared to $134 million in 2023 [16] - Operating cash flow generated during the year was $35 million, and free cash flow was $15 million [17] Business Line Data and Key Metrics Changes - Supply Technologies segment achieved record sales of $779 million, up 2% compared to $766 million in 2023 [22] - Assembly Components segment sales declined 7% year-over-year to $399 million due to lower unit sales and pricing [25] - Engineered Products segment net sales were a record $482 million, up 3% compared to $469 million in 2023 [27] - Adjusted operating income in the Supply Technologies segment reached an all-time high of $75 million, up 27% compared to $59 million in the prior year [23] Market Data and Key Metrics Changes - Year-over-year growth in sales was driven by aerospace and defense, heavy-duty truck, consumer electronics, and electrical distribution markets [10] - Weaker demand was noted in power sports, industrial and agricultural equipment, and lawn and garden markets [10] - Booking trends remained robust in both North America and Europe across major induction heating and melting brands [10] Company Strategy and Development Direction - The company aims to build a diverse set of complementary industrial businesses with competitive moats and above-average growth characteristics [5] - Focus on organic growth complemented by acquisitions through the business cycle [6] - The strategy includes reallocating capital from high capital cost businesses to areas with better growth opportunities [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth driven by stable demand in most end markets for 2025 [33] - Concerns were raised about potential impacts of tariffs and inflation on overall demand in 2025 [46] - The company expects year-over-year improvement in adjusted operating income, adjusted net income, EBITDA, and free cash flow [33] Other Important Information - Corporate expenses were $29 million in 2024, compared to $28 million in 2023, primarily due to higher employee-related costs [33] - The effective tax rate for 2025 is expected to range from 21% to 23% compared to 11% in 2024 [34] Q&A Session Summary Question: Expectations for 2025 cadence and impact of tariffs - Management indicated that most of the business will not be significantly impacted by tariffs, with opportunities in domestic sourcing [38][39] Question: Potential standout end markets for 2025 - Aerospace and defense remain strong, with expectations for growth in heavy-duty trucks and capital equipment [50] Question: Strength of the fastener business - The fastener business benefits from diverse end markets, with strong demand in aerospace and defense [112] Question: Commentary on share increase - The increase in shares is due to a million shares sold through an ATM program, with no additional sales expected in the forecast [71][72] Question: Outlook for proprietary products - Proprietary products in fastener manufacturing are expected to continue growing, particularly in lightweight materials for automotive applications [79][80]

Financial Performance - In Q4 2024, net sales from continuing operations were $388.4 million, slightly down from $389.3 million in Q4 2023[4] - Q4 2024 adjusted EPS was $0.67 per diluted share, a 24% increase from $0.54 in Q4 2023[4] - Full year 2024 net sales totaled $1.656 billion, compared to $1.660 billion in 2023[5] - Full year 2024 adjusted EPS was $3.59 per diluted share, up 17% from $3.07 in 2023[5] - EBITDA for Q4 2024 was $37 million, a 27% increase from $29 million in Q4 2023[4] - Operating income for Q4 2024 was $14.4 million, down from $17.7 million in Q4 2023, reflecting a decrease of 18.6%[21] - Adjusted earnings from continuing operations for Q4 2024 were $9.3 million, or $0.67 per diluted share, compared to $6.9 million, or $0.54 per diluted share in Q4 2023[23] - The company reported a net income attributable to common shareholders of $0.5 million in Q4 2024, compared to a loss of $14.5 million in Q4 2023[21] - Total cost of sales for the year ended December 31, 2024, was $1,374.8 million, a decrease of 1.0% from $1,388.3 million in 2023[21] - Selling, general and administrative expenses for Q4 2024 were $45.1 million, a decrease from $46.4 million in Q4 2023[21] - The company declared cash dividends of $0.125 per common share for both Q4 2024 and Q4 2023[21] - The loss from discontinued operations for Q4 2024 was $5.1 million, an improvement from a loss of $21.4 million in Q4 2023[21] Segment Performance - In the Supply Technologies segment, Q4 2024 net sales were $181.8 million, a 2% increase from $177.5 million in Q4 2023[7] - For the Assembly Components segment, Q4 2024 net sales were $89.7 million, down from $97.0 million in Q4 2023[8] - Engineered Products segment net sales in Q4 2024 were $116.9 million, up 2% from $114.8 million in Q4 2023[9] - Segment operating income for Supply Assembly Technologies Components was $75.0 million in 2024, compared to $59.0 million in 2023, an increase of 27.1%[34] - Supply Technologies segment reported adjusted operating income of $75.2 million for 2024, a significant increase from $59.2 million in 2023, marking a growth of 27.8%[36] - Assembly Components segment adjusted operating income decreased to $26.5 million in 2024 from $34.9 million in 2023, a decline of 24.5%[36] - Engineered Products segment adjusted operating income was $21.3 million in 2024, compared to $24.0 million in 2023, indicating a decrease of 11.3%[36] - Corporate segment reported an adjusted operating loss of $29.0 million for both 2024 and 2023, showing no change year-over-year[36] - The financial results indicate a mixed performance across segments, with notable growth in Supply Technologies but declines in Assembly Components and Engineered Products[36] Liquidity and Cash Flow - Total liquidity at December 31, 2024, was $198.2 million, reflecting an increase of $32.2 million year-over-year[11] - Net cash provided by operating activities from continuing operations decreased to $35.0 million in 2024, down from $53.4 million in 2023, a decline of 34.4%[31] - Cash and cash equivalents at the end of the year were $53.1 million, down from $54.8 million at the end of 2023, a decrease of 3.1%[31] Debt and Assets - Total assets increased to $1,365.1 million in 2024, up from $1,340.7 million in 2023, representing a growth of 1.8%[30] - Total current liabilities decreased to $361.1 million in 2024 from $363.6 million in 2023, a reduction of 0.7%[30] - Long-term debt decreased to $618.3 million in 2024 from $633.4 million in 2023, a decline of 2.4%[30] Future Outlook - For 2025, the company expects year-over-year sales growth of 2% to 4% driven by stable demand in key end markets[14]

Financial Data and Key Metrics Changes - Consolidated net sales were $418 million, flat compared to $419 million a year ago, indicating stable overall demand despite challenges in industrial markets [12][5] - Consolidated gross margin improved to 17.3%, up 60 basis points from 16.7% last year, with year-to-date gross margin increasing to 17.1% from 16.3% [13][7] - GAAP earnings per share increased by 3% to $1.02, while adjusted earnings per share rose 8% to $1.07 compared to $0.99 a year ago [18] - EBITDA for the quarter was $39 million, consistent with the previous year, while year-to-date EBITDA improved by 10% [19] Business Segment Data and Key Metrics Changes - Supply Technologies segment generated net sales of $195 million, up from $193 million a year ago, with operating income reaching a record $20.5 million, a 31% increase [22][23] - Assembly Components segment sales decreased to $99 million from $108 million a year ago, with adjusted operating income of $6.6 million [26][27] - Engineered Products segment sales increased by 6% to $124 million, driven by a 19% rise in industrial equipment demand, although operating income decreased to $5.2 million [29][31] Market Data and Key Metrics Changes - Strong demand was noted in aerospace and defense, consumer electronics, and medical equipment, while heavy-duty truck and power sports markets experienced lower sales [22] - European revenues in the Engineered Products segment increased by 32% year-over-year, indicating regional strength [29] Company Strategy and Development Direction - The company aims to reshape itself into a more nimble and profitable enterprise, focusing on margin improvement and sustainable growth through strategic investments [4][6] - Continued efforts to reduce leverage were highlighted, including the sale of $25 million in common stock to support debt reduction [9] - The company plans to manage fluctuations in year-end demand closely and improve productivity, particularly in automotive and forging businesses [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for growth in the fourth quarter and anticipated improvements in end markets that faced declines in unit volume during 2024 [6] - The company expects adjusted earnings per share to increase by more than 10% year-over-year and EBITDA to reach approximately $150 million, a 12% increase compared to last year [33] Other Important Information - The company repaid over $23 million of debt during the quarter, significantly increasing liquidity to $194 million [21] - SG&A expenses rose to approximately $48 million, driven by acquisition-related costs and higher employee-related expenses [15] Q&A Session Summary Question: Can you expand on the gross margin improvements and investments in products? - Management discussed repositioning the portfolio since 2018, focusing on making operations more nimble and profitable, and investing in high-margin products [35][36] Question: Are there any lines of business that may be considered for divestiture? - Management indicated that while there are ongoing initiatives to improve operations, there are no current plans for broad divestitures [41] Question: What is the outlook for the Forged segment and operational improvements? - Management acknowledged challenges in the Forged Group but expressed optimism for incremental improvements and better performance in 2025 [55][56] Question: How does the company view the aerospace and defense market? - Management sees a sustainable path in aerospace and defense, with good visibility and backlog extending through 2025 [57][58] Question: Are there any parts of the business uniquely exposed to potential increased tariffs? - Management believes that the business philosophy of local production mitigates significant risks from tariffs, with 70% of operations in North America [63][64]

Park-Ohio Holdings Corp. Third Quarter 2024 Earnings Call Presentation November 7, 2024 Forward-Looking Statements and Non-GAAP Measures These slides contain forward-looking statements, including statements regarding future performance of the Company, that are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements, or industry results, to be materially different from any future results, performance or achievements expressed or impl ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 000-03134 Park-Ohio Holdings Corp. (Exact name of registrant as specified in its charte ...

Financial Performance - Net sales for Q3 2024 were $418 million, slightly down from $419 million in Q3 2023[1] - GAAP EPS from continuing operations rose to $1.02 per diluted share, compared to $0.99 in Q3 2023[1] - Adjusted EPS from continuing operations increased by 8% to $1.07 per diluted share, up from $0.99 in Q3 2023[1] - Operating income for Q3 2024 was $23.6 million, down 12.6% from $27.0 million in Q3 2023[15] - The company reported a net income attributable to common shareholders of $9.8 million in Q3 2024, down from $11.1 million in Q3 2023, a decrease of 11.7%[15] - Income from continuing operations attributable to common shareholders increased to $13.7 million in Q3 2024, compared to $12.5 million in Q3 2023, representing an increase of 9.6%[15] - Adjusted earnings from continuing operations for Q3 2024 were $14.3 million, or $1.07 per diluted share, compared to $12.5 million, or $0.99 per diluted share in Q3 2023[17] Earnings and Margins - Gross margin improved to 17.3%, an increase of 60 basis points year-over-year[1] - EBITDA for Q3 2024 was $39 million, representing 9.2% of net sales[1] - EBITDA for Q3 2024 was $38.5 million, unchanged from Q3 2023, while EBITDA for the nine months ended September 30, 2024, was $115.2 million, up from $104.8 million in the same period of 2023[21] - Adjusted EPS for the nine months ended September 30, 2024, was $2.94 per diluted share, a 15% increase from $2.55 in 2023[9] Sales and Revenue Outlook - Year-to-date net sales from continuing operations were $1,267.8 million, down from $1,270.4 million in the same period of 2023[9] - The company expects 2024 revenues to be 1%-2% above record 2023 revenues, with adjusted EPS projected to increase by more than 10% year-over-year[11] - Net sales for Q3 2024 were $417.6 million, a slight decrease of 0.3% compared to $418.8 million in Q3 2023[15] - Net sales for the Supply Technologies segment increased from $192.8 million to $194.5 million year-over-year, while Engineered Products sales rose from $117.6 million to $124.4 million[27] Assets and Liabilities - Total current assets increased to $886.0 million as of September 30, 2024, compared to $824.4 million at the end of 2023, reflecting a growth of 7.5%[23] - Total current liabilities decreased slightly from $363.6 million to $361.3 million, while total long-term liabilities increased from $687.2 million to $702.3 million[24] - The company reported a total equity increase from $289.9 million to $343.0 million[24] Cash Flow and Investments - Net cash provided by operating activities from continuing operations decreased significantly from $24.3 million to $8.6 million[26] - Net cash used in investing activities from continuing operations increased from $20.0 million to $33.3 million[26] - The company issued $24.7 million in common stock, contributing to net cash provided by financing activities of $33.1 million[26] - The company experienced a decrease in cash and cash equivalents from $58.2 million to $54.8 million at the beginning of the period[26] Other Financial Metrics - Interest expense for Q3 2024 was $12.1 million, slightly up from $11.6 million in Q3 2023[15] - The company maintained dividends per common share at $0.125 for both Q3 2024 and Q3 2023[15] - The company reported a loss from discontinued operations of $3.9 million in Q3 2024, compared to a loss of $1.4 million in Q3 2023[15] - Income from continuing operations before income taxes decreased from $16.0 million to $12.6 million for the three months ended September 30, 2024[27] - Adjusted segment operating income for Supply Technologies was reported at $20.5 million, up from $15.6 million in the same period last year[30]

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q2 2024 Earnings Conference Call August 8, 2024 10:00 AM ET Company Participants Matthew Crawford - Chairman, President & Chief Executive Officer Pat Fogarty - Vice President & Chief Financial Officer Conference Call Participants Dave Storms - Stonegate Steve Barger - KeyBanc Capital Markets Operator Good morning and welcome to the Park-Ohio Second Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. After the presentation, th ...

Park-Ohio Holdings Corp. Second Quarter 2024 Earnings Call Presentation August 8, 2024 Forward-Looking Statements and Non-GAAP Measures These slides contain forward-looking statements, including statements regarding future performance of the Company, that are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements, or industry results, to be materially different from any future results, performance or achievements expressed or impli ...