Table of Contents 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 June 30, 2025 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. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (440) 947-2000 (Registrant's telephone number, including ...

Park-Ohio (PKOH) Q2 2025 Earnings Call August 07, 2025 10:00 AM ET Speaker0Good morning and welcome to the Park Ohio Second Quarter twenty twenty five Results Conference Call. At this time, all participants are in a listen only mode. After the presentation, the company will conduct a question and answer session. Today's conference is also being recorded. If you have any objections, you may disconnect at this time.Before we get started, I want to remind everyone that certain statements made on today's call m ...

Park-Ohio Holdings Corp. Second Quarter 2025 Earnings Call Presentation August 7, 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 impli ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 15, 2025 PARK-OHIO HOLDINGS CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (Commission File Number) Ohio 000-03134 34-1867219 (IRS Employer Identification No.) 6065 Parkland Boulevard, Cleveland, Ohio 44124 (Address of principal e ...

Financial Performance - Net sales decreased by 2.9% to $405.4 million in Q1 2025 compared to $417.6 million in Q1 2024, primarily due to lower demand in Supply Technologies and Assembly Components segments [72]. - Operating income fell by 21.3% to $18.9 million in Q1 2025 from $24.0 million in Q1 2024, reflecting lower sales levels [71]. - SG&A expenses increased by 2.3% to $48.2 million in Q1 2025, representing 11.9% of net sales compared to 11.3% in Q1 2024, driven by inflation and higher employee costs [75]. - The Supply Technologies segment reported a 4.6% decrease in net sales to $187.8 million in Q1 2025, with segment operating income down by $1.7 million [81]. - The Assembly Components segment experienced a 9.6% decline in net sales to $96.9 million in Q1 2025, with operating income decreasing by $3.3 million [83]. - The Engineered Products segment saw a 6.3% increase in net sales to $120.7 million in Q1 2025, with operating income rising by $0.3 million [85]. Cash Flow and Liquidity - Cash used in operating activities was $10.0 million in Q1 2025, a decrease from cash generated of $2.3 million in Q1 2024, due to higher working capital needs [88]. - As of March 31, 2025, the company had total liquidity of $209.5 million, which included $54.5 million in cash and cash equivalents and $155.0 million of unused borrowing availability under credit agreements [95]. - The company had net debt borrowings of $22.1 million during the three months ended March 31, 2025, compared to $27.5 million in the same period of 2024 [91]. - The company had cash and cash equivalents held by foreign subsidiaries of $44.2 million at March 31, 2025, showing a slight increase from $43.4 million at December 31, 2024 [96]. - The company expects its existing financial resources and anticipated cash flow from operations to be adequate to meet cash requirements for at least the next twelve months [94]. - The company does not expect restrictions on repatriation of cash held outside the U.S. to materially affect its overall liquidity [96]. Capital Expenditures and Investments - Capital expenditures were $9.5 million in Q1 2025, aimed at increasing capacity for future growth in Engineered Products and Assembly Components segments [89]. Tax and Pension - The effective income tax rate for Q1 2025 was 20%, down from 25% in Q1 2024, primarily due to federal research and development tax credits [79]. - Other components of pension and OPEB income increased to $1.8 million in Q1 2025 from $1.3 million in Q1 2024, attributed to lower net actuarial losses [77]. Dividends and Financial Agreements - The company declared and paid dividends totaling $1.8 million during the three months ended March 31, 2025, with a quarterly dividend of $0.125 per common share declared on April 17, 2025 [105]. - The company’s calculated availability under the Credit Agreement was $118.0 million as of March 31, 2025, indicating compliance with financial covenants [101]. - The company has the option to increase the availability under its revolving credit facility by an aggregate incremental amount up to $70.0 million [99]. Interest Rates and Financial Impact - A 100-basis-point increase in interest rates would have resulted in an increase in interest expense of approximately $0.7 million during the three-month period ended March 31, 2025 [112]. - The company had finance leases totaling $15.7 million as of March 31, 2025 [100].

Financial Data and Key Metrics Changes - The first quarter sales totaled $405 million compared to $418 million a year ago, indicating a slight decline [12] - Consolidated gross margin was 16.8% in the quarter, down from 17.1% in the first quarter of last year [12] - GAAP earnings per share from continued operations was $0.61 per diluted share compared to $0.83 last year, while adjusted EPS was $0.66 compared to $0.85 a year ago [14] - EBITDA totaled $34 million in the quarter, with trailing twelve-month EBITDA at $148 million compared to $152 million for the full year 2024 [14][15] Business Line Data and Key Metrics Changes - In the Supply Technologies segment, net sales totaled $188 million, down from $197 million a year ago, with operating income at $17.8 million compared to $19.5 million last year [16] - The Assembly Components segment saw sales decline to $97 million from $107 million, with operating income dropping to $5.3 million from $8.6 million [17] - The Engineered Products segment reported sales of $121 million, up from $114 million a year ago, driven by strong aftermarket sales in North America [18] Market Data and Key Metrics Changes - Sales growth was noted in the Supply Technology business in Europe and Asia, particularly in the commercial aerospace end market, which helped offset demand weakness in North America [11] - Demand was lower year over year in certain North American end markets, including power sports and industrial equipment, impacting overall sales [16] Company Strategy and Development Direction - The company is focusing on reshaping its business by investing in its best products and services, which includes closing nonstrategic locations and discontinuing certain customer relationships [6] - The strategy aims to improve cash flows, reduce earnings volatility, and enhance overall margins through the business cycle [6] - The company is well-positioned to benefit from reshoring trends and increased investment in infrastructure and defense, particularly in steel technologies [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a slow start in January but noted a rebound in February and March, aligning more closely with expectations [4][5] - The company has widened its 2025 earnings forecast to account for uncertainties related to tariffs and potential lower sales as customers pause for clarity [9] - Management expressed confidence in the strength of the business model and the ability to navigate current market volatility [9][59] Other Important Information - SG&A expenses increased to approximately $48 million from $47 million a year ago, driven by inflation and personnel costs [13] - Capital spending in the first quarter totaled $9.5 million, with expectations for full-year CapEx ranging between $30 million and $35 million [15] Q&A Session Summary Question: What parts of the business are driving the changing guidance? - Management indicated that the high end of the guidance aligns with year-to-date performance, while the lower end reflects uncertainty in demand, particularly from consumer-facing customers [24][25] Question: How much of the Q1 shortfall can be made up in subsequent quarters? - Management expects to make up ground in the remaining quarters, noting that the slow start was primarily in January and that momentum picked up in March [46] Question: Is there a qualification process for the supply chain shift? - Management characterized the supply chain shift as ongoing, with incremental opportunities emerging, particularly in automotive and industrial sectors [51][53] Question: What is the outlook for M&A activity? - Management noted a decline in M&A activity due to macro uncertainties, with many acquirers adopting a wait-and-see approach [56]

Financial Data and Key Metrics Changes - The first quarter sales totaled $405 million compared to $418 million a year ago, indicating a slight decline [12] - Consolidated gross margin was 16.8% in the quarter, down from 17.1% in the first quarter of last year [12] - GAAP earnings per share from continued operations was $0.61 per diluted share compared to $0.83 last year, while adjusted EPS was $0.66 compared to $0.85 a year ago [14] - EBITDA totaled $34 million in the quarter, with a trailing twelve-month EBITDA of $148 million compared to $152 million for the full year 2024 [14][15] Business Line Data and Key Metrics Changes - In the Supply Technologies segment, net sales totaled $188 million, down from $197 million a year ago, with operating income at $17.8 million compared to $19.5 million last year [16][17] - The Assembly Components segment saw sales of $97 million, down from $107 million, with operating income of $5.3 million compared to $8.6 million a year ago [18] - The Engineered Products segment reported sales of $121 million, up from $114 million a year ago, driven by strong aftermarket sales in North America [19] Market Data and Key Metrics Changes - Sales growth was noted in the Supply Technology business in Europe and Asia, particularly in the commercial aerospace end market, which helped offset demand weakness in North America [11] - The Engineered Products segment is expected to benefit from increased investment in infrastructure and defense, particularly in steel technologies [9] Company Strategy and Development Direction - The company is focusing on reshaping its business by investing in its best products and services, which includes closing non-strategic locations and discontinuing certain customer relationships [6] - The strategy aims to improve cash flows, reduce earnings volatility, and enhance overall margins through the business cycle [6] - The company is well-positioned to benefit from reshoring trends and has seen increased inquiries from customers looking to secure their supply chains in the US [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a slow start in January but noted a rebound in February and March, aligning more closely with expectations [4] - The company has widened its 2025 earnings forecast to account for uncertainties related to tariffs and potential lower sales due to customer hesitance [9] - Management expressed confidence in the business model and the ability to navigate current market volatility [9] Other Important Information - Capital spending in the first quarter totaled $9.5 million, with expectations for full-year CapEx to range between $30 million and $35 million [15] - The effective income tax rate for the quarter was approximately 20%, with expectations for the full year to range between 20% and 23% [13] Q&A Session Summary Question: What parts of the business are driving the changing guidance? - Management indicated that the high end of the guidance reflects year-to-date performance, while the lower end considers uncertainties in current demand, particularly from consumer-facing customers [26][27] Question: How much of the cost base comes from China or countries with significant tariffs? - Approximately 70% of the business is North America-based, with only about 8% of the Asian segment located in China, indicating a relatively small exposure [32][36] Question: Are there signs of demand pull forward or pauses? - Management noted that while there may be some pull forward, overall, they did not see significant evidence of it impacting the supply chain [38][41] Question: How much of the Q1 shortfall can be made up in subsequent quarters? - Management expressed confidence in making up the shortfall, particularly as momentum picked up in March [47] Question: What is the current state of M&A activity? - There has been a decline in M&A activity due to macroeconomic uncertainties, but this may be short-term as conditions improve [55]

Park-Ohio Holdings Corp. First Quarter 2025 Earnings Call Presentation May 7, 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 b ...

[Financial and Operational Highlights](index=1&type=section&id=FIRST%20QUARTER%20CONSOLIDATED%20RESULTS%20FROM%20CONTINUING%20OPERATIONS) ParkOhio reported resilient Q1 2025 results despite lower revenue, with a rebound beginning in its Engineered Products Group Q1 2025 Key Financial Metrics vs. Q1 2024 | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Sales | $405M | $418M | | GAAP EPS from continuing operations | $0.61 | $0.83 | | Adjusted EPS from continuing operations | $0.66 | $0.85 | | Income from continuing operations (PKOH shareholders) | $8.5M | $10.6M | | EBITDA, as defined | $34M | $38M | - The CEO highlighted the strength of the company's **diversity in products, end markets, and geographies**, with an anticipated rebound in the Engineered Products Group throughout 2025[2](index=2&type=chunk) - The company expects to **offset potential tariff costs** through supply chain and commercial solutions and notes that many North American businesses may benefit from shifting customer supply chains[2](index=2&type=chunk) [Segment Performance](index=1&type=section&id=FIRST%20QUARTER%20SEGMENT%20RESULTS%20FROM%20CONTINUING%20OPERATIONS) Segment performance was mixed in Q1 2025, with sales declines in two segments offset by growth in Engineered Products [Supply Technologies](index=1&type=section&id=Supply%20Technologies) Supply Technologies' net sales decreased due to reduced demand in several key markets, slightly compressing its operating margin Supply Technologies Performance (Q1 2025 vs. Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Sales | $187.8M | $196.9M | | Operating Income | $17.8M | $19.5M | | Operating Margin | 9.5% | 9.9% | - The sales decrease was driven by lower demand in powersports, industrial equipment, and electrical equipment markets, while demand increased in heavy-duty truck, semiconductor equipment, and consumer electronics[6](index=6&type=chunk) [Assembly Components](index=2&type=section&id=Assembly%20Components) The Assembly Components segment saw lower sales and operating income due to reduced volumes and unfavorable pricing changes Assembly Components Performance (Q1 2025 vs. Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Sales | $96.9M | $107.2M | | Operating Income | $5.3M | $8.6M | | Operating Margin | 5.5% | 8.0% | - Reasons for the sales decline include **lower unit volumes** in fuel rail and extruded rubber, customer delays on new business, and the end of favorable pricing on certain legacy programs in 2024[9](index=9&type=chunk) [Engineered Products](index=2&type=section&id=Engineered%20Products) Engineered Products delivered strong sales growth driven by its industrial equipment business, boosting its adjusted operating income Engineered Products Performance (Q1 2025 vs. Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Sales | $120.7M | $113.5M | | Operating Income | $3.8M | $3.5M | | Adjusted Operating Income | $4.6M | $3.8M | - The segment's growth was driven by the industrial equipment business, with **new equipment sales up 12%** and aftermarket sales up 5%[10](index=10&type=chunk) - New equipment backlog stood at **$136 million** at the end of Q1 2025, down from $145 million at the end of 2024[10](index=10&type=chunk) [Cash Flow and Liquidity](index=2&type=section&id=CASH%20FLOWS%20AND%20LIQUIDITY) The company used cash from operations in Q1 2025 due to higher accounts receivable but maintained a strong overall liquidity position Cash Flow Summary (Q1 2025 vs. Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Operating Cash Flow | ($10.0M) | $2.3M | | Capital Expenditures | $9.5M | $5.8M | | Free Cash Flow | ($19.5M) | ($3.5M) | - Total liquidity was **$209.5 million** as of March 31, 2025, comprising $54.5 million in cash and $155.0 million in unused borrowing availability[12](index=12&type=chunk) [2025 Outlook](index=2&type=section&id=2025%20OUTLOOK%20-%20CONTINUING%20OPERATIONS) ParkOhio reaffirmed its full-year 2025 guidance, acknowledging macroeconomic uncertainty but expecting to benefit from sourcing trends Full-Year 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Net Sales | $1.6B - $1.7B | | Adjusted EPS | $3.00 - $3.50 | - The company is working to mitigate the impact of added costs from tariffs and believes many of its businesses are positioned to **benefit from localized sourcing** back into the United States[14](index=14&type=chunk) - **Free cash flow is expected to improve** year over year in 2025[14](index=14&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three months ended March 31, 2025 and 2024 [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Unaudited)) The company reported lower net sales and operating income in Q1 2025 compared to the prior-year period Condensed Consolidated Statements of Income (Unaudited) | (In millions, except per share data) | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net sales | $405.4 | $417.6 | | Operating income | $18.9 | $24.0 | | Income from continuing operations | $7.8 | $10.1 | | Net income attributable to PKOH shareholders | $8.3 | $9.6 | | Diluted EPS (Continuing operations) | $0.61 | $0.83 | | Diluted EPS (Total) | $0.60 | $0.75 | | Dividends per common share | $0.125 | $0.125 | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets and liabilities increased as of March 31, 2025, driven by higher accounts receivable and long-term debt Condensed Consolidated Balance Sheets (In millions) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **ASSETS** | | | | Total current assets | $870.0 | $836.0 | | Total assets | $1,411.8 | $1,365.1 | | **LIABILITIES AND SHAREHOLDERS' EQUITY** | | | | Total current liabilities | $360.8 | $361.1 | | Long-term debt | $642.1 | $618.3 | | Total liabilities | $1,057.0 | $1,028.0 | | Total equity | $354.8 | $337.1 | | Total liabilities and shareholders' equity | $1,411.8 | $1,365.1 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) The company used cash in operating activities and saw a net increase in cash due to financing activities in Q1 2025 Condensed Consolidated Statements of Cash Flows (In millions) | Three Months Ended March 31, | 2025 | 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($10.0) | $2.3 | | Net cash used in investing activities | ($9.5) | ($16.8) | | Net cash provided by financing activities | $20.3 | $25.8 | | Increase in cash and cash equivalents | $1.4 | $6.8 | | Cash and cash equivalents at end of period | $54.5 | $61.6 | [Business Segment Information](index=11&type=section&id=Business%20Segment%20Information%20(Unaudited)) This table details the net sales and operating income performance for each of the company's three business segments Segment Operating Income (Loss) (In millions) | Three Months Ended March 31, | Supply Technologies | Assembly Components | Engineered Products | Corporate | Total | | :--- | :--- | :--- | :--- | :--- | :--- | | **2025** | | | | | | | Net Sales | $187.8 | $96.9 | $120.7 | - | $405.4 | | Operating Income (Loss) | $17.8 | $5.3 | $3.8 | ($8.0) | $18.9 | | **2024** | | | | | | | Net Sales | $196.9 | $107.2 | $113.5 | - | $417.6 | | Operating Income (Loss) | $19.5 | $8.6 | $3.5 | ($7.6) | $24.0 | [Non-GAAP Financial Measures](index=5&type=section&id=Supplemental%20Non-GAAP%20Financial%20Measures%20(Unaudited)) This section provides reconciliations for non-GAAP measures like Adjusted Earnings and EBITDA to their comparable GAAP figures [Reconciliation of Adjusted Earnings](index=5&type=section&id=Reconciliation%20of%20Adjusted%20Earnings) Adjusted earnings from continuing operations were $9.3 million in Q1 2025 after excluding special charges Reconciliation to Adjusted Earnings (In millions, except EPS) | | Q1 2025 Earnings | Q1 2025 Diluted EPS | Q1 2024 Earnings | Q1 2024 Diluted EPS | | :--- | :--- | :--- | :--- | :--- | | GAAP Income from continuing operations | $8.5 | $0.61 | $10.6 | $0.83 | | Restructuring & other special charges | $1.0 | $0.07 | $0.3 | $0.03 | | Tax effect of adjustments | ($0.2) | ($0.02) | ($0.1) | ($0.01) | | **Adjusted Earnings** | **$9.3** | **$0.66** | **$10.8** | **$0.85** | [Reconciliation of EBITDA, as defined](index=8&type=section&id=Reconciliation%20of%20EBITDA%2C%20as%20defined) EBITDA, as defined by the company's credit facility, decreased to $33.9 million in Q1 2025 from $37.8 million in Q1 2024 Reconciliation to EBITDA, as defined (In millions) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Income from continuing operations (PKOH shareholders) | $8.5 | $10.6 | | Interest expense, net | $11.0 | $11.9 | | Income tax expense | $1.9 | $3.3 | | Depreciation and amortization | $8.3 | $8.4 | | Other adjustments | $4.2 | $3.6 | | **EBITDA, as defined** | **$33.9** | **$37.8** | [Reconciliation of Adjusted Segment Operating Income](index=12&type=section&id=Reconciliation%20of%20Adjusted%20Segment%20Operating%20Income) Total adjusted operating income was $19.9 million in Q1 2025, with adjustments made to two of the three segments Adjusted Segment Operating Income (In millions) | Q1 2025 | As Reported | Adjustments | As Adjusted | | :--- | :--- | :--- | :--- | | Supply Technologies | $17.8 | $— | $17.8 | | Assembly Components | $5.3 | $0.2 | $5.5 | | Engineered Products | $3.8 | $0.8 | $4.6 | | Corporate | ($8.0) | $— | ($8.0) | | **Total** | **$18.9** | **$1.0** | **$19.9** | [Reconciliation of Free Cash Flow](index=12&type=section&id=Reconciliation%20of%20Free%20Cash%20Flow) Free cash flow was a use of $19.5 million in Q1 2025, a larger use than the prior-year period due to higher capex Reconciliation to Free Cash Flow (In millions) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($10.0) | $2.3 | | Less: purchases of property plant and equipment | ($9.5) | ($5.8) | | **Free cash flow** | **($19.5)** | **($3.5)** |

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 ...