Financial Performance - Net sales increased by 1.1% to $432.6 million in Q2 2024 compared to $428.1 million in Q2 2023, driven by higher customer demand in Supply Technologies and Engineered Products segments [67]. - Operating income rose by 28.1% to $24.6 million in Q2 2024 from $19.2 million in Q2 2023, reflecting improved profitability [65]. - Gross margin improved to 16.9% in Q2 2024 from 16.4% in Q2 2023, attributed to better performance in Supply Technologies and capital equipment business [68]. - Income from continuing operations attributable to common shareholders was $12.3 million in Q2 2024, a 73.2% increase from $7.1 million in Q2 2023 [66]. - Net sales for the first six months of 2024 decreased by 0.2% to $850.2 million compared to $851.6 million in the same period in 2023, mainly due to lower sales in the Assembly Components segment [78]. - Gross margin for the first six months of 2024 improved to 17.0% from 16.1% in the same period in 2023, driven by profit improvement initiatives [79]. Segment Performance - Net sales for the Supply Technologies segment increased by $5.3 million (2.7%) in Q2 2024 compared to Q2 2023, driven by strong demand in key markets [89]. - Segment operating income for the Supply Technologies segment rose by $3.6 million to $19.0 million in Q2 2024, with an operating income margin increase of 160 basis points [90]. - Net sales for the Assembly Components segment decreased by $8.9 million (7.9%) in Q2 2024 compared to Q2 2023, primarily due to lower product pricing and unit volumes [94]. - Segment operating income for the Assembly Components segment decreased to $6.9 million in Q2 2024 from $8.4 million in Q2 2023 [95]. - Net sales for the Engineered Products segment increased by 6.8% in Q2 2024 compared to Q2 2023, driven by higher sales in capital equipment and aftermarket parts [98]. - Segment operating income for the Engineered Products segment increased by $3.1 million to $6.3 million in Q2 2024, with an operating income margin increase of 230 basis points [98]. Expenses and Charges - SG&A expenses increased by 1.3% to $47.4 million in Q2 2024, representing 11.0% of net sales, up from 10.9% in Q2 2023 [69]. - Interest expense increased to $12.0 million in Q2 2024 from $11.1 million in Q2 2023, primarily due to higher interest rates [73]. - Restructuring and special charges decreased significantly to $1.2 million in Q2 2024 from $4.1 million in Q2 2023 [71]. - In the first six months of 2024, the company recorded acquisition-related charges of $0.3 million and restructuring charges of $1.2 million, compared to $6.6 million in 2023 [81]. Cash Flow and Liquidity - As of June 30, 2024, the company had total liquidity of $158.2 million, including $59.9 million in cash and cash equivalents [106]. - Capital expenditures for the first half of 2024 were $13.2 million, primarily aimed at increasing capacity for future growth [103]. - The Company declared and paid dividends totaling $3.3 million during the six months ended June 30, 2024, with a quarterly dividend of $0.125 per common share declared on July 19, 2024, resulting in a cash outlay of approximately $1.6 million [115]. Debt and Interest Rate Risks - The company incurred net interest expense of $23.9 million in the first half of 2024, up from $21.8 million in the same period of 2023, primarily due to higher interest rates [84]. - A 100-basis-point increase in interest rates would have resulted in an increase in interest expense of approximately $1.5 million during the six-month period ended June 30, 2024 [121]. - The Company must maintain defined availability thresholds ranging from $37.5 million to $50.625 million and a debt service coverage ratio of 1.15 to make certain permitted payments, including acquisitions and dividends [112]. Market and Operational Risks - The Company faces translation risks related to changes in foreign currency exchange rates, which may affect net sales and expenses from foreign operations [122]. - The Company is exposed to market risk, including changes in interest rates and commodity prices, particularly for metal and rubber compounds [123]. - The Company expects to remain in compliance with financial covenants throughout 2024, although declines in sales volumes could adversely impact this ability [113]. - The variability of customer orders has resulted in significant periodic and quarterly fluctuations in operations, particularly in the capital equipment business [116]. - The Company has no material commodity swap agreements or forward purchase contracts, having entered into agreements to hedge foreign currency in 2024 and 2023 [123]. - Forward-looking statements indicate potential risks including economic conditions, supply chain issues, and the ability to integrate acquisitions, which may impact future performance [119].

Financial Performance - Record net sales of $433 million in Q2 2024, up from $428 million in Q2 2023, representing a 1% increase[1][2] - Gross margin improved by 50 basis points to 16.9% year-over-year[1][2] - GAAP income from continuing operations increased to $12.3 million, or $0.95 per diluted share, compared to $7.1 million, or $0.57 per diluted share in Q2 2023, a 67% increase[1][2] - Adjusted EPS from continuing operations rose 23% to $1.02 per diluted share, up from $0.83 in Q2 2023[1][2] - EBITDA improved by 10% year-over-year to $39 million, representing 9.1% of net sales[1][2] - Year-to-date net sales from continuing operations were $850.2 million, slightly down from $851.6 million in the same period in 2023[8] - For 2024, the company expects year-over-year revenue growth between 2% and 4%[8] - Operating income for the three months ended June 30, 2024, increased to $24.6 million, compared to $19.2 million in the same period last year, and for the six months, it rose to $48.6 million from $39.4 million[12] - Income from continuing operations attributable to Park-Ohio Holdings Corp. common shareholders for the three months ended June 30, 2024, was $12.3 million, up from $7.1 million year-over-year, and for the six months, it increased to $22.9 million from $14.6 million[12] - Adjusted earnings from continuing operations for the three months ended June 30, 2024, were $13.1 million, or $1.02 per diluted share, compared to $10.2 million, or $0.83 per diluted share, in the same period last year[14] - EBITDA for the three months ended June 30, 2024, was $39.4 million, an increase from $35.7 million in the same period last year, and for the six months, it rose to $77.2 million from $67.2 million[12] - Operating income for the three months ended June 30, 2024, was $24.6 million, up from $19.2 million in the same period of 2023, a growth of 28.2%[23] - The company achieved an operating income of $50.1 million for the first half of 2024, compared to $45.2 million in the first half of 2023, reflecting a growth of 10.9%[27] - Adjusted operating income for the first half of 2024 was $50.1 million, compared to $39.4 million in the first half of 2023, indicating a growth of 27.0%[27] Segment Performance - In the Supply Technologies segment, net sales reached $202.6 million, a 3% increase driven by strong demand in aerospace and defense, with a 56% year-over-year sales increase in that market[4] - Engineered Products segment net sales were a record $126.9 million, up 7% year-over-year, with new equipment backlog totaling $173 million[6] - Net sales for the Supply Technologies segment for the six months ended June 30, 2024, were $399.5 million, up from $393.1 million in the same period of 2023, indicating a 1.0% increase[23] - Supply Technologies reported revenue of $19.0 million for the three months ended June 30, 2024, an increase from $15.4 million in the same period of 2023, reflecting a growth of 23.4%[26] - Engineered Products segment revenue increased to $7.3 million in Q2 2024 from $6.1 million in Q2 2023, representing a year-over-year growth of 19.7%[26] - Supply Technologies adjusted revenue for the first half of 2024 was $38.7 million, compared to $29.6 million in the first half of 2023, marking a significant increase of 30.9%[27] - Engineered Products adjusted revenue for the first half of 2024 reached $11.1 million, up from $13.1 million in the first half of 2023, showing a growth of 35.4%[27] - The Assembly Components segment maintained revenue at $15.5 million for the first half of 2024, consistent with the same period in 2023[27] Assets and Liabilities - Total current assets increased to $864.1 million as of June 30, 2024, from $824.4 million as of December 31, 2023, reflecting a growth of 4.1%[20] - Total assets reached $1,380.6 million as of June 30, 2024, compared to $1,340.7 million at the end of 2023, marking a 2.97% increase[20] - Long-term debt increased to $670.3 million as of June 30, 2024, from $633.4 million at the end of 2023, representing a 5.8% rise[20] Cash Flow and Expenses - The company reported a net cash used in investing activities of $24.2 million for the six months ended June 30, 2024, compared to $13.0 million for the same period in 2023, indicating a significant increase in investment[22] - Cash and cash equivalents at the end of the period increased to $59.9 million from $53.4 million, showing an increase of 12.2%[22] - Interest expense for the three months ended June 30, 2024, was $12.0 million, compared to $11.1 million in the same period last year[12] - Interest expense for the six months ended June 30, 2024, was $23.9 million, compared to $21.8 million for the same period in 2023, reflecting an increase of 9.6%[18] - Selling, general and administrative expenses for the three months ended June 30, 2024, were $47.4 million, compared to $46.8 million in the same period last year[12] - The company experienced restructuring and other special charges of $1.2 million for the three months ended June 30, 2024, down from $4.1 million in the same period last year[12] Discontinued Operations - The company reported a loss from discontinued operations of $0.4 million for the three months ended June 30, 2024, an improvement from a loss of $1.7 million in the same period last year[12] - The corporate segment reported an operating loss of $(15.2) million for the first half of 2024, slightly worse than the $(14.7) million loss in the same period of 2023[27] - The company reported a gain on the sale of assets of $0.8 million in the first half of 2023, which did not recur in the first half of 2024[27]

Park-Ohio Holdings Corp. First Quarter 2024 Earnings Call Presentation First Quarter 2024 Highlights Gross margin of 17.1% improved 120 basis points year-over-year 3 • 18% improvement in Adjusted EPS driven by record operating profit in our Supply Technologies segment and benefits from ongoing profit-improvement actions, including product pricing. Q1 Supply Technologies Segment (in millions) • Continued strong customer demand in most of our key end markets, driven by a 28% increase in the aerospace and defe ...

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q1 2024 Earnings Conference Call April 30, 2024 10:00 AM ET Company Participants Matthew Crawford - Chairman, President and Chief Executive Officer Patrick Fogarty - Vice President and Chief Financial Officer Conference Call Participants Dave Storms - Stonegate Christian Zyla - KeyBanc Capital Markets Yilma Abebe - JPMorgan Operator Good morning and welcome to the Park-Ohio First Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only ...

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 March 31, 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 charter) | ...

FIRST QUARTER SEGMENT RESULTS FROM CONTINUING OPERATIONS In our Supply Technologies segment, net sales in the first quarter of 2024 were $196.9 million compared to $195.8 million in the first quarter a year ago, due to continued strong customer demand in most of our key end markets, driven by a 28% increase in the aerospace and defense market and year-over-year growth in our industrial supply business, partially offset by decreases in the heavy- duty truck, lawn and garden and agricultural equipment markets ...

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, 2023 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 charter) | Ohio ...

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q4 2023 Earnings Conference Call March 6, 2024 10:00 AM ET Company Participants Matthew Crawford - Chairman and Chief Executive Officer Patrick Fogarty - Vice President and Chief Financial Officer Conference Call Participants Christian Zyla - KeyBanc Capital Markets Dave Storms - Stonegate Brian Sponheimer - Gabelli Operator Good morning and welcome to the Park-Ohio Fourth Quarter and Full Year 2023 Results Conference Call. At this time all participants are in a listen ...

Park-Ohio Holdings Corp. Fourth Quarter 2023 Earnings Call Presentation Forward-Looking Statements and Non-GAAP Measures Record net sales from continuing operations of $1.7 billion, up 11% YOY, and record net sales in each business segment March 6, 2024 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, o ...

"Our team delivered strong growth of 11% during 2023 even with the adverse impact of the UAW strikes during the fourth quarter. These results represented record revenue for our business in total and for every business segment. Additionally, gross margin increased more than 200 basis points over 2022, and operating cash flow exceeded $53 million, which was used to grow our business and reduce debt. Our strong performance is a testament to the hard work of our teams and strong positioning in the market of our ...