(Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the quarterly period ended March 31, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or Form 10-Q ☐ 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) | ...

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q4 2022 Earnings Conference Call March 16, 2023 10:00 AM ET Company Participants Matthew Crawford - Chairman, President and CEO Patrick Fogarty - VP and CFO Conference Call Participants Yilma Abebe - JPMorgan Dave Storms - Stonegate Capital Markets Steve Barger - KeyBanc Capital Markets Operator Good morning. Welcome to the Park-Ohio Fourth Quarter and Full Year 2022 Results Conference Call. At this time, all participants are in a listen-only mode. After the presentati ...

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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES Table of Contents 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 ...

Financial Data and Key Metrics Changes - The company achieved record consolidated sales of $436 million, a 22% year-over-year increase [9][10] - Adjusted EPS improved to $0.52 per share, compared to a loss of $0.60 per share a year ago [16] - EBITDA more than doubled year-over-year, improving to almost $29 million from $13 million a year ago [19] - Gross margins increased to 12.2% on an adjusted basis, up 50 basis points year-over-year [12] Business Line Data and Key Metrics Changes - In the Supply Technologies segment, net sales reached a record $186 million, up 21% year-over-year [21] - Assembly Components segment sales increased by 27% year-over-year to $153 million [25] - Engineered Products segment sales rose 15% to $97 million, driven by increased customer demand [29] Market Data and Key Metrics Changes - Sales in the semiconductor, power sports, heavy-duty truck, and civilian aerospace markets showed significant increases [22] - The company noted strong demand across all geographies, particularly in North America [22] Company Strategy and Development Direction - The company is focusing on capitalizing on investments made to drive value and performance [7] - There is an emphasis on restructuring efforts that have resized or closed 14 global locations without significant customer attrition [5] - The company plans to continue pursuing price increases to offset higher costs due to inflation [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong customer demand and anticipated restocking at production sites [6] - The ongoing Fed tightening cycle is viewed as a potential risk to demand forecasts [5] - Management expects continued improvement in free cash flow and profitability for the remainder of the year [11] Other Important Information - The company recorded an income tax benefit of $3 million, including discrete tax benefits related to increased federal R&D tax credits [15] - Liquidity at the end of the third quarter was $164 million, consisting of $54 million in cash and $110 million in unused borrowing capacity [20] Q&A Session Summary Question: Can you elaborate on the backlogs in the Engineered Products and the timing for converting those into sales? - Management indicated that record orders and backlogs are expected to push through production within six to nine months, contingent on supply chain alignment [38] Question: Are supply chain challenges, particularly freight, starting to improve? - Management noted that ocean freight constraints have stabilized, with improved pricing and availability expected to continue into the new year [40][41] Question: What is the visibility on federal R&D credits going forward? - Management stated that 80% of the current quarter's R&D credits are recurring, with ongoing initiatives to reduce the effective tax rate [45] Question: What is the target for free cash flow improvement? - Management highlighted that embedded inefficiencies in working capital due to supply chain constraints present opportunities for improvement, targeting a return to normalized working capital levels [51][53] Question: What is the company's goal for debt reduction? - Management reaffirmed a goal of achieving a debt-to-EBITDA ratio of 3x within 18 to 24 months, despite current levels being higher [54][56] Question: Are there any businesses considered for divestment? - Management emphasized a focus on capital allocation towards high-growth, high-margin businesses, while remaining open to asset sales where appropriate [57][58]

Form 10-Q (Mark One) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) For the quarterly period ended September 30, 2022 | Ohio | 34-1867219 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | 6065 Parkland Boulevard, Cleveland, Ohio | 44124 | | (Address ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q2 2022 were $429 million, up 22% compared to Q2 2021, driven by increased customer demand across all segments [16][22] - Gross margins improved to 11.6% from 11.4% year-over-year, with adjusted gross margins at 12.6%, an increase of 100 basis points [16][19] - GAAP EPS for the quarter was $0.08 per diluted share, while adjusted EPS was $0.21, excluding one-time charges [18][19] - EBITDA more than doubled year-over-year, reaching $52 million year-to-date compared to $40 million a year ago [20] Business Line Data and Key Metrics Changes - In Supply Technologies, net sales reached a record $176 million, up 4% from the previous quarter and 13% year-over-year [22] - Engineered Products segment sales were $99 million, a 15% increase compared to $86 million a year ago, marking the highest level since Q1 2020 [25][27] - Assembly Components segment sales increased by 41% year-over-year to $154 million, although it reported an operating loss of $7.5 million due to restructuring charges and rising raw material costs [24] Market Data and Key Metrics Changes - Sales growth was noted across key end markets, including heavy-duty trucks, semiconductor, industrial and agricultural equipment, and civilian aerospace [22] - Currency fluctuations negatively impacted sales by approximately $10 million in Q2 2022 [22][19] Company Strategy and Development Direction - The company is focusing on acquisitions to enhance growth, having recently closed two strategic acquisitions that are expected to be accretive to gross margin and earnings [10][12] - The management anticipates benefiting from federal government legislation aimed at infrastructure investments, particularly in semiconductor production and green energy [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth due to improving supply chain conditions and restocking demand, despite ongoing inflation and labor challenges [5][8] - The company expects significant improvement in profitability for the full year 2022 compared to last year, with a revenue growth forecast of approximately 15% [29] Other Important Information - The company has increased its revolving credit facility to $405 million, reflecting the strength of its collateral base [21] - Corporate expenses rose to $7.5 million due to higher personnel costs and professional fees [29] Q&A Session Summary Question: How broad is the restocking trend based on customer feedback? - Management noted strong expectations from customers regarding build rates and inventory restocking, particularly in the auto industry, indicating a broad restocking trend [33] Question: What is the expected operating leverage in the Engineered Products segment? - Management indicated that restructuring efforts are expected to return operating income margins to historic levels, with improvements anticipated as production picks up [35][38] Question: What are the key drivers for free cash flow in the second half of the year? - Management highlighted improvements in earnings and a reduction in working capital levels as key drivers for free cash flow, with expectations for inventory levels to normalize [46][48] Question: How should working capital trends be viewed going into next year? - Management suggested that working capital levels could decrease if sales remain constant, with potential for $30 million of excess working capital to be released [50] Question: What is the company's approach to M&A and capital allocation? - Management emphasized a selective approach to acquisitions, focusing on opportunities that align with long-term growth and profitability goals [51]

Part I [Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) This section presents the unaudited condensed consolidated financial statements and management's financial analysis [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements and related notes for Park-Ohio Holdings Corp [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This table provides a snapshot of the company's assets, liabilities, and equity at specific reporting dates **Condensed Consolidated Balance Sheets (In millions):** | Metric | June 30, 2022 | December 31, 2021 | | :-------------------------------- | :------------ | :---------------- | | **ASSETS** | | | | Cash and cash equivalents | $61.1 | $54.1 | | Accounts receivable, net | $294.8 | $255.3 | | Inventories, net | $413.1 | $382.9 | | Total current assets | $850.7 | $775.5 | | Property, plant and equipment, net | $224.8 | $229.1 | | Goodwill | $102.4 | $106.0 | | Total assets | $1,418.3 | $1,360.0 | | **LIABILITIES AND SHAREHOLDERS' EQUITY** | | | | Trade accounts payable | $226.0 | $194.0 | | Current portion of long-term debt and short-term debt | $10.3 | $10.7 | | Total current liabilities | $359.5 | $349.0 | | Long-term debt | $655.6 | $591.5 | | Total liabilities | $1,104.5 | $1,035.2 | | Total equity | $313.8 | $324.8 | | Total liabilities and shareholders' equity | $1,418.3 | $1,360.0 | [Condensed Consolidated Statements of Operations (Unaudited)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20(Unaudited)) This table details the company's revenues, expenses, and net income over specific interim periods **Condensed Consolidated Statements of Operations (Unaudited, In millions, except per share data):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $428.6 | $350.0 | $847.0 | $709.6 | | Gross profit | $49.8 | $39.9 | $103.5 | $91.9 | | Operating income (loss) | $7.7 | $(3.4) | $15.6 | $8.9 | | Income (loss) before income taxes | $2.2 | $(8.3) | $5.1 | $(1.0) | | Net income (loss) | $1.5 | $(5.5) | $7.8 | $(0.1) | | Net income (loss) attributable to Park-Ohio Holdings Corp. common shareholders | $1.0 | $(5.3) | $7.1 | $0.2 | | Basic EPS | $0.08 | $(0.44) | $0.59 | $0.02 | | Diluted EPS | $0.08 | $(0.44) | $0.58 | $0.02 | [Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)%20(Unaudited)) This table presents the company's net income adjusted for other comprehensive income or loss items **Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited, In millions):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income (loss) | $1.5 | $(5.5) | $7.8 | $(0.1) | | Currency translation | $(14.6) | $1.6 | $(18.5) | $(2.7) | | Total other comprehensive (loss) income | $(14.8) | $1.8 | $(17.9) | $(2.3) | | Total comprehensive loss, net of tax | $(13.3) | $(3.7) | $(10.1) | $(2.4) | | Comprehensive loss attributable to Park-Ohio Holdings Corp. common shareholders | $(13.8) | $(3.5) | $(10.8) | $(2.1) | [Condensed Consolidated Statements of Shareholders' Equity (Unaudited)](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity%20(Unaudited)) This section outlines changes in the company's equity components, including common stock and retained earnings **Condensed Consolidated Statements of Shareholders' Equity (Unaudited, In millions, except shares):** | Metric | Balance at Jan 1, 2022 | Balance at Mar 31, 2022 | Balance at Jun 30, 2022 | | :-------------------------------- | :--------------------- | :---------------------- | :---------------------- | | Common Stock (Shares) | 16,339,722 | 16,334,220 | 16,642,841 | | Common Stock (Amount) | $16.3 | $16.3 | $16.6 | | Additional Paid-In Capital | $142.9 | $144.5 | $146.0 | | Retained Earnings | $259.4 | $263.9 | $263.3 | | Treasury Stock | $(85.3) | $(85.4) | $(86.4) | | Accumulated Other Comprehensive Loss | $(19.2) | $(22.3) | $(37.1) | | Noncontrolling Interests | $10.7 | $10.9 | $11.4 | | Total | $324.8 | $327.9 | $313.8 | **Dividends per common share:** | Period | 2022 | 2021 | | :------------------------ | :--- | :--- | | Three Months Ended June 30, | $0.125 | $0.125 | | Six Months Ended June 30, | $0.250 | $0.250 | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) This table summarizes the cash inflows and outflows from operating, investing, and financing activities **Condensed Consolidated Statements of Cash Flows (Unaudited, In millions):** | Metric | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :------------------------------------------ | :----------------------------- | :----------------------------- | | Net cash used in operating activities | $(38.2) | $(23.3) | | Net cash used in investing activities | $(11.5) | $(19.8) | | Net cash provided by financing activities | $60.6 | $43.7 | | Effect of exchange rate changes on cash | $(3.9) | $(0.3) | | Increase in cash and cash equivalents | $7.0 | $0.3 | | Cash and cash equivalents at end of period | $61.1 | $55.3 | | Interest paid | $15.4 | $14.3 | | Income taxes paid | $2.7 | $6.4 | [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements [NOTE 1 — Basis of Presentation](index=12&type=section&id=NOTE%201%20%E2%80%94%20Basis%20of%20Presentation) This note describes the accounting principles and assumptions used in preparing the interim financial statements - The unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information, including normal recurring accruals, and do not include all information required for complete annual financial statements[29](index=29&type=chunk)[30](index=30&type=chunk) - Management's estimates and assumptions are used, and actual results may differ[31](index=31&type=chunk) [NOTE 2 — New Accounting Pronouncements](index=12&type=section&id=NOTE%202%20%E2%80%94%20New%20Accounting%20Pronouncements) This note discusses the impact of recently issued accounting standards on the company's financial reporting - ASU 2020-04, 'Reference Rate Reform,' effective from March 12, 2020, is not expected to have a material impact[32](index=32&type=chunk) - No other recently-issued ASUs are anticipated to materially affect operations, financial condition, or liquidity[33](index=33&type=chunk) [NOTE 3 — Revenue](index=12&type=section&id=NOTE%203%20%E2%80%94%20Revenue) This note disaggregates revenue by product line and geographic region, detailing contract assets and liabilities - Revenue is disaggregated by product line and geographic region to best illustrate the impact of economic factors on revenue and cash flows[34](index=34&type=chunk) **Revenue by Product Line (In millions):** | Product Line | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Supply Technologies Segment | $175.8 | $155.0 | $344.6 | $312.7 | | Assembly Components Segment | $154.2 | $109.5 | $312.8 | $235.5 | | Engineered Products Segment | $98.6 | $85.5 | $189.6 | $161.4 | | Total revenues | $428.6 | $350.0 | $847.0 | $709.6 | **Revenue by Geographic Region (Three Months Ended June 30, 2022, In millions):** | Geographic Region | Supply Technologies Segment | Assembly Components Segment | Engineered Products Segment | Total Revenue | | :---------------- | :-------------------------- | :-------------------------- | :-------------------------- | :------------ | | United States | $108.0 | $111.7 | $58.6 | $278.3 | | Europe | $30.7 | $4.7 | $14.4 | $49.8 | | Asia | $16.9 | $4.2 | $12.3 | $33.4 | | Mexico | $16.5 | $14.2 | $3.9 | $34.6 | | Canada | $3.1 | $18.7 | $5.5 | $27.3 | | Other | $0.6 | $0.7 | $3.9 | $5.2 | | Total | $175.8 | $154.2 | $98.6 | $428.6 | - Contract liabilities (advances/deposits) totaled **$43.3 million** at June 30, 2022, down from **$51.7 million** at December 31, 2021[39](index=39&type=chunk) - Contract assets (revenue recognized before billing) totaled **$51.3 million** at June 30, 2022, down from **$55.0 million** at December 31, 2021[40](index=40&type=chunk) [NOTE 4 — Segments](index=14&type=section&id=NOTE%204%20%E2%80%94%20Segments) This note provides financial information for the company's three operating segments - The Company operates through three segments: Supply Technologies, Assembly Components, and Engineered Products[41](index=41&type=chunk) - Segment performance is measured by segment operating income, which excludes non-operating, unusual, or corporate costs[42](index=42&type=chunk) **Segment Net Sales and Operating Income (In millions):** | Segment | Three Months Ended June 30, 2022 Net Sales | Three Months Ended June 30, 2021 Net Sales | Six Months Ended June 30, 2022 Net Sales | Six Months Ended June 30, 2021 Net Sales | | :-------------------- | :--------------------------------------- | :--------------------------------------- | :------------------------------------- | :------------------------------------- | | Supply Technologies | $175.8 | $155.0 | $344.6 | $312.7 | | Assembly Components | $154.2 | $109.5 | $312.8 | $235.5 | | Engineered Products | $98.6 | $85.5 | $189.6 | $161.4 | | **Total Net Sales** | **$428.6** | **$350.0** | **$847.0** | **$709.6** | | | | | | | | Segment | Three Months Ended June 30, 2022 Operating Income (Loss) | Three Months Ended June 30, 2021 Operating Income (Loss) | Six Months Ended June 30, 2022 Operating Income (Loss) | Six Months Ended June 30, 2021 Operating Income (Loss) | | :-------------------- | :------------------------------------------------------- | :------------------------------------------------------- | :----------------------------------------------------- | :----------------------------------------------------- | | Supply Technologies | $12.7 | $10.2 | $24.7 | $22.5 | | Assembly Components | $(7.5) | $(6.1) | $(5.5) | $0.3 | | Engineered Products | $7.1 | $(0.7) | $8.9 | $(1.9) | | **Total Segment Operating Income** | **$12.3** | **$3.4** | **$28.1** | **$20.9** | [NOTE 5 — Plant Closure and Consolidation](index=15&type=section&id=NOTE%205%20%E2%80%94%20Plant%20Closure%20and%20Consolidation) This note details expenses incurred for plant closure and consolidation activities across segments - Assembly Components segment incurred **$4.2 million** (Q2 2022) and **$6.2 million** (YTD 2022) in plant closure and consolidation expenses, with an additional **$1.0 million** expected in H2 2022[46](index=46&type=chunk) - Engineered Products segment incurred **$0.8 million** (Q2 2022) and **$1.4 million** (YTD 2022) for similar activities, with an additional **$5.0 million** expected in H2 2022[47](index=47&type=chunk) - In 2021, Assembly Components recorded **$0.8 million** (Q2) and **$1.3 million** (YTD) for plant closures, and Engineered Products recorded **$0.6 million** (Q2) and **$1.3 million** (YTD) for consolidation activities[48](index=48&type=chunk)[49](index=49&type=chunk) [NOTE 6 — Inventories](index=16&type=section&id=NOTE%206%20%E2%80%94%20Inventories) This table breaks down the company's inventory balances by raw materials, work-in-process, and finished goods **Inventories, net (In millions):** | Category | June 30, 2022 | December 31, 2021 | | :---------------------- | :------------ | :---------------- | | Raw materials and supplies | $134.1 | $114.2 | | Work-in-process | $52.1 | $49.6 | | Finished goods | $226.9 | $219.1 | | **Inventories, net** | **$413.1** | **$382.9** | [NOTE 7 — Accrued Warranty Costs](index=16&type=section&id=NOTE%207%20%E2%80%94%20Accrued%20Warranty%20Costs) This table presents the changes in accrued warranty costs, including claims paid and warranty expense **Accrued Warranty Costs (In millions):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :---------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Beginning balance | $6.7 | $6.5 | $7.2 | $6.4 | | Claims paid | $(0.2) | $(0.9) | $(0.9) | $(1.2) | | Warranty expense | $0.5 | $2.0 | $0.7 | $2.4 | | Ending balance | $7.0 | $7.6 | $7.0 | $7.6 | [NOTE 8 — Income Taxes](index=16&type=section&id=NOTE%208%20%E2%80%94%20Income%20Taxes) This note explains the income tax expense and benefit, including effective tax rates and specific credits - Q2 2022 income tax expense was **$0.7 million** (**32% effective rate**), higher than the 21% U.S. statutory rate due to stock compensation deduction[54](index=54&type=chunk) - Q2 2021 income tax benefit was **$2.8 million** (**34% effective rate**) due to CARES Act net operating loss carryback[54](index=54&type=chunk) - YTD 2022 income tax benefit was **$2.7 million**, including a **$4.1 million** federal R&D credit[55](index=55&type=chunk) - YTD 2021 income tax benefit was **$0.9 million** (**90% effective rate**) due to CARES Act benefit and earnings composition[55](index=55&type=chunk) [NOTE 9 — Financing Arrangements](index=16&type=section&id=NOTE%209%20%E2%80%94%20Financing%20Arrangements) This note details the company's debt structure, including senior notes, revolving credit facilities, and fair values **Debt Composition (In millions):** | Debt Type | Maturity Date | Interest Rate at June 30, 2022 | Carrying Value at June 30, 2022 | Carrying Value at December 31, 2021 | | :-------------------------- | :------------ | :----------------------------- | :------------------------------ | :---------------------------------- | | Senior Notes | April 15, 2027 | 6.625% | $350.0 | $350.0 | | Revolving credit facility | November 26, 2024 | 2.34% | $288.4 | $221.1 | | Finance Leases | Various | Various | $14.5 | $17.5 | | Other | Various | Various | $16.5 | $17.5 | | **Total debt** | | | **$669.4** | **$606.1** | | Less current portion & issuance costs | | | $(13.8) | $(14.6) | | **Total long-term debt, net** | | | **$655.6** | **$591.5** | - The revolving credit facility is **$405.0 million**, with **$101.5 million** borrowing availability as of June 30, 2022[58](index=58&type=chunk) - Senior Notes of **$350.0 million** are unsecured and due 2027[59](index=59&type=chunk) **Senior Notes Fair Value (In millions):** | Metric | June 30, 2022 | December 31, 2021 | | :------------- | :------------ | :---------------- | | Carrying amount | $350.0 | $350.0 | | Fair value | $276.5 | $337.6 | [NOTE 10 — Stock-Based Compensation](index=18&type=section&id=NOTE%2010%20%E2%80%94%20Stock-Based%20Compensation) This note outlines restricted share activity and the total stock-based compensation expense recognized **Restricted Share Activity (Six Months Ended June 30, 2022):** | Metric | Time-Based Shares | Weighted Average Grant Date Fair Value | Performance-Based Shares | Weighted Average Grant Date Fair Value | | :------------------------ | :---------------- | :----------------------------------- | :----------------------- | :----------------------------------- | | Outstanding - beginning of year | 655,093 | $24.62 | 50,000 | $32.55 | | Granted | 325,765 | $16.03 | — | — | | Vested | (173,035) | $25.38 | — | — | | Canceled or expired | (10,246) | $23.39 | — | — | | Outstanding - end of period | 797,577 | $20.96 | 50,000 | $32.55 | - Total stock-based compensation expense was **$1.8 million** (Q2 2022) and **$3.4 million** (YTD 2022)[66](index=66&type=chunk) - Unrecognized compensation cost was **$11.6 million**, expected to be recognized over **2.0 years**[66](index=66&type=chunk) [NOTE 11 — Commitments and Contingencies](index=18&type=section&id=NOTE%2011%20%E2%80%94%20Commitments%20and%20Contingencies) This note discloses the company's involvement in legal proceedings and other contingent liabilities - The Company is involved in various claims and legal proceedings, including **99 asbestos-related cases** involving **161 plaintiffs**[67](index=67&type=chunk)[69](index=69&type=chunk) - Management believes these will not have a material adverse effect on financial condition, liquidity, or results of operations due to historical dismissal success and lack of causal relationship[70](index=70&type=chunk) [NOTE 12 — Pension and Postretirement Benefits](index=19&type=section&id=NOTE%2012%20%E2%80%94%20Pension%20and%20Postretirement%20Benefits) This table details the net periodic benefit income and expense for pension and postretirement plans **Net Periodic Benefit (Income) Expense Costs (In millions):** | Metric | Three Months Ended June 30, 2022 Pension | Three Months Ended June 30, 2021 Pension | Six Months Ended June 30, 2022 Pension | Six Months Ended June 30, 2021 Pension | | :-------------------------------- | :------------------------------------- | :------------------------------------- | :----------------------------------- | :----------------------------------- | | Service costs | $1.1 | $1.1 | $2.2 | $2.2 | | Interest costs | $0.5 | $0.4 | $0.9 | $0.7 | | Expected return on plan assets | $(3.3) | $(3.1) | $(6.5) | $(6.2) | | Recognized net actuarial loss | — | $0.2 | — | $0.4 | | **Net periodic benefit (income) expense** | **$(1.7)** | **$(1.4)** | **$(3.4)** | **$(2.9)** | | | | | | | | Metric | Three Months Ended June 30, 2022 Postretirement | Three Months Ended June 30, 2021 Postretirement | Six Months Ended June 30, 2022 Postretirement | Six Months Ended June 30, 2021 Postretirement | | :-------------------------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Service costs | — | — | — | — | | Interest costs | $0.1 | $0.1 | $0.1 | $0.1 | | Expected return on plan assets | $(0.1) | — | $(0.2) | — | | Recognized net actuarial loss | — | $0.1 | $0.1 | $0.2 | | **Net periodic benefit (income) expense** | **$0.2** | **—** | **$0.3** | **$0.3** | [NOTE 13 — Accumulated Other Comprehensive Loss](index=19&type=section&id=NOTE%2013%20%E2%80%94%20Accumulated%20Other%20Comprehensive%20Loss) This table shows changes in accumulated other comprehensive loss, including currency translation adjustments **Accumulated Other Comprehensive Loss (In millions):** | Component | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :-------------------------------- | :------------------------------- | :----------------------------- | | Beginning balance | $(22.3) | $(19.2) | | Currency translation | $(14.6) | $(18.5) | | Foreign currency forward contracts | $(0.2) | $0.5 | | Pension and OPEB activity, net of tax | — | $0.1 | | **Ending balance** | **$(37.1)** | **$(37.1)** | - No income taxes were provided on currency translation as foreign earnings are considered permanently reinvested[73](index=73&type=chunk) [NOTE 14 — Weighted-Average Number of Shares Used in Computing Earnings Per Share](index=19&type=section&id=NOTE%2014%20%E2%80%94%20Weighted-Average%20Number%20of%20Shares%20Used%20in%20Computing%20Earnings%20Per%20Share) This table provides the weighted-average shares used for basic and diluted earnings per share calculations **Weighted-Average Shares Used in EPS Computation (In millions):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Weighted-average basic shares outstanding | 12.1 | 12.0 | 12.1 | 12.0 | | Plus: Dilutive impact of employee stock awards | 0.1 | — | 0.1 | 0.3 | | **Weighted-average diluted shares outstanding** | **12.2** | **12.0** | **12.2** | **12.3** | - Anti-dilutive shares excluded from diluted EPS were **0.3 million** (Q2 2022) and **0.3 million** (YTD 2022)[76](index=76&type=chunk) [NOTE 15 — Subsequent Events](index=20&type=section&id=NOTE%2015%20%E2%80%94%20Subsequent%20Events) This note discloses significant events occurring after the reporting period, including dividends and acquisitions - On July 22, 2022, a quarterly dividend of **$0.125 per common share** was declared, resulting in a **$1.6 million** cash outlay[77](index=77&type=chunk) - Acquired Southern Fasteners & Supply, Inc. for approximately **$17 million cash** and **$2 million notes payable**, adding **$25 million** in annual revenues to the Supply Technologies segment[78](index=78&type=chunk) - Finalized acquisition of Charter Automotive (Changzhou) Co. Ltd. for approximately **$11 million notes payable**, adding **$15 million** in annual revenues to the Supply Technologies segment and accelerating global growth of proprietary products for EV and auto platforms[79](index=79&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section analyzes the company's financial performance, liquidity, and capital resources, including segment results [EXECUTIVE OVERVIEW](index=21&type=section&id=EXECUTIVE%20OVERVIEW) This section provides a high-level summary of the company's diversified international business operations - Park-Ohio Holdings Corp. is a diversified international company offering supply chain management, capital equipment, and manufactured components[82](index=82&type=chunk) - Operates through three reportable segments: Supply Technologies (Total Supply Management™ for various industries), Assembly Components (fuel efficiency and emission reduction products for automotive, agricultural, construction, heavy-duty truck, and marine OEMs), and Engineered Products (induction heating/melting systems, pipe threading systems, forged/machined products for diverse industrial OEMs and end users)[82](index=82&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk) [COVID-19 Pandemic](index=21&type=section&id=COVID-19%20Pandemic) This section discusses the pandemic's impact on markets, supply chains, costs, and the company's mitigation strategies - The COVID-19 pandemic negatively impacted markets, caused a global semiconductor micro-chip shortage, raw material price inflation, higher labor costs, and supply chain constraints[87](index=87&type=chunk) - The Company is managing operating costs, including plant consolidation, and taking aggressive actions to improve results, maintaining a diversified portfolio and **$200.5 million** in liquidity as of June 30, 2022[87](index=87&type=chunk)[88](index=88&type=chunk) [RESULTS OF OPERATIONS (Three Months Ended June 30, 2022 Compared with Three Months Ended June 30, 2021)](index=23&type=section&id=RESULTS%20OF%20OPERATIONS%20(Three%20Months%20Ended%20June%2030,%202022%20Compared%20with%20Three%20Months%20Ended%20June%2030,%202021)) This section analyzes the company's financial performance for the second quarter of 2022 compared to the prior year **Financial Highlights (Three Months Ended June 30, In millions, except per share data):** | Metric | 2022 | 2021 | $ Change | % Change | | :--------------------------------------------------- | :--- | :--- | :------- | :------- | | Net sales | $428.6 | $350.0 | $78.6 | 22.5% | | Gross profit | $49.8 | $39.9 | $9.9 | 24.8% | | Gross margin | 11.6% | 11.4% | | | | SG&A expenses | $45.0 | $43.3 | $1.7 | 3.9% | | SG&A expenses as a percentage of net sales | 10.5% | 12.4% | | | | Operating income (loss) | $7.7 | $(3.4) | $11.1 | * | | Income (loss) before income taxes | $2.2 | $(8.3) | $10.5 | * | | Net income (loss) attributable to Park-Ohio Holdings Corp. common shareholders | $1.0 | $(5.3) | $6.3 | * | | Basic EPS | $0.08 | $(0.44) | $0.52 | * | | Diluted EPS | $0.08 | $(0.44) | $0.52 | * | - Net sales increased **22.5%** due to higher customer demand and increased net price realization across all segments[91](index=91&type=chunk) - Gross margin improved to **11.6%** from **11.4%**, driven by increased net price realization and higher volumes, offsetting inflation and supply chain constraints[93](index=93&type=chunk) - Q2 2022 included **$4.1 million** in plant closure costs[93](index=93&type=chunk) - SG&A expenses increased **3.9%** but decreased as a percentage of net sales to **10.5%** (from 12.4%) due to the higher revenue base[94](index=94&type=chunk) - Q2 2022 included **$0.9 million** in plant closure charges[94](index=94&type=chunk) - A **$2.9 million** gain on sale of assets was recorded in Q2 2022 from real estate sales in Engineered Products (**$2.5 million**) and Assembly Components (**$0.4 million**)[95](index=95&type=chunk) - Interest expense, net, increased to **$8.3 million** from **$7.4 million** due to higher average outstanding borrowings[97](index=97&type=chunk) [RESULTS OF OPERATIONS (Six Months Ended June 30, 2022 Compared with Six Months Ended June 30, 2021)](index=25&type=section&id=RESULTS%20OF%20OPERATIONS%20(Six%20Months%20Ended%20June%2030,%202022%20Compared%20with%20Six%20Months%20Ended%20June%2030,%202021)) This section analyzes the company's financial performance for the first six months of 2022 compared to the prior year **Financial Highlights (Six Months Ended June 30, In millions, except per share data):** | Metric | 2022 | 2021 | $ Change | % Change | | :--------------------------------------------------- | :--- | :--- | :------- | :------- | | Net sales | $847.0 | $709.6 | $137.4 | 19.4% | | Gross profit | $103.5 | $91.9 | $11.6 | 12.6% | | Gross margin | 12.2% | 13.0% | | | | SG&A expenses | $90.8 | $83.0 | $7.8 | 9.4% | | SG&A expenses as a percentage of net sales | 10.7% | 11.7% | | | | Operating income | $15.6 | $8.9 | $6.7 | 75.3% | | Income (loss) before income taxes | $5.1 | $(1.0) | $6.1 | * | | Net income attributable to Park-Ohio Holdings Corp. common shareholders | $7.1 | $0.2 | $6.9 | * | | Basic EPS | $0.59 | $0.02 | $0.57 | * | | Diluted EPS | $0.58 | $0.02 | $0.56 | * | - Net sales increased **19.4%** to **$847.0 million**, driven by higher customer demand and increased net price realization across all segments[101](index=101&type=chunk) - Gross margin decreased to **12.2%** from **13.0%**, impacted by **$5.9 million** in plant closure costs (vs. **$1.3 million** in 2021) and ongoing inflation, higher labor costs, and supply chain constraints[102](index=102&type=chunk)[103](index=103&type=chunk) - SG&A expenses increased **9.4%** but improved as a percentage of net sales to **10.7%** (from 11.7%) due to the higher revenue base, despite higher selling expenses and plant closure costs (**$2.6 million**)[104](index=104&type=chunk) - Interest expense, net, increased to **$16.1 million** from **$14.8 million** due to higher average outstanding debt balances[107](index=107&type=chunk) - Income tax benefit was **$2.7 million**, including a **$4.1 million** federal R&D credit[108](index=108&type=chunk) [SEGMENT RESULTS](index=26&type=section&id=SEGMENT%20RESULTS) This section provides a detailed analysis of the financial performance for each of the company's operating segments [Supply Technologies Segment](index=27&type=section&id=Supply%20Technologies%20Segment) This section details the financial performance of the Supply Technologies segment, including sales and operating income **Supply Technologies Segment Performance (In millions):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $175.8 | $155.0 | $344.6 | $312.7 | | Segment operating income | $12.7 | $10.2 | $24.7 | $22.5 | | Segment operating income margin | 7.2% | 6.6% | 7.2% | 7.2% | - Q2 2022 net sales increased **13.4%** due to higher customer demand in heavy-duty truck, semiconductor, industrial, agricultural equipment, and civilian aerospace, along with increased net price realization[111](index=111&type=chunk) - Q2 2022 segment operating income margin increased **60 basis points** to **7.2%** due to higher sales offsetting increased supply chain costs[112](index=112&type=chunk) - YTD 2022 net sales increased **10.2%** with comparable segment operating income margin[113](index=113&type=chunk)[114](index=114&type=chunk) [Assembly Components Segment](index=27&type=section&id=Assembly%20Components%20Segment) This section details the financial performance of the Assembly Components segment, including sales and operating loss **Assembly Components Segment Performance (In millions):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $154.2 | $109.5 | $312.8 | $235.5 | | Segment operating (loss) income | $(7.5) | $(6.1) | $(5.5) | $0.3 | | Segment operating (loss) income margin | (4.9)% | (5.6)% | (1.8)% | 0.1% | - Q2 2022 net sales increased **40.8%** due to higher demand for fuel-related products and increased net price realization, overcoming prior year's semiconductor shortage impact[116](index=116&type=chunk) - Q2 2022 segment operating loss increased to **$7.5 million** (from **$6.1 million**) due to **$4.2 million** in restructuring charges[117](index=117&type=chunk) - YTD 2022 net sales increased **32.8%** due to higher demand, price realization, and pass-through of material costs[118](index=118&type=chunk) - YTD operating loss was **$5.5 million** (vs. **$0.3 million** income) due to **$6.2 million** in restructuring charges[119](index=119&type=chunk) [Engineered Products Segment](index=28&type=section&id=Engineered%20Products%20Segment) This section details the financial performance of the Engineered Products segment, including sales and operating income **Engineered Products Segment Performance (In millions):** | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $98.6 | $85.5 | $189.6 | $161.4 | | Segment operating income (loss) | $7.1 | $(0.7) | $8.9 | $(1.9) | | Segment operating income (loss) margin | 7.2% | (0.8)% | 4.7% | (1.2)% | - Q2 2022 net sales increased **15.3%** due to stronger demand in capital equipment and forged/machined products as markets recovered[121](index=121&type=chunk) - Q2 2022 segment operating income increased by **$7.8 million**, with margin improving by **800 basis points**, driven by higher sales, operational improvements, and profit improvement actions[122](index=122&type=chunk) - YTD 2022 net sales increased **17.4%**[123](index=123&type=chunk) - YTD operating income increased by **$10.8 million**, with margin improving by **590 basis points**, due to similar factors[124](index=124&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash flows, debt arrangements, borrowing capacity, and dividend policy [Operating Activities](index=29&type=section&id=Operating%20Activities) This section analyzes cash flows generated or used by the company's primary business operations - Cash usage from operating activities increased to **$38.2 million** (YTD 2022) from **$23.3 million** (YTD 2021), primarily due to higher working capital, including a **$45.3 million** increase in accounts receivable[127](index=127&type=chunk) [Investing Activities](index=29&type=section&id=Investing%20Activities) This section details cash flows related to the acquisition and disposal of long-term assets and investments - Capital expenditures were **$15.5 million** (YTD 2022) for capacity expansion and facility consolidation, with **$4.0 million** from asset sales[128](index=128&type=chunk) - YTD 2021 capital expenditures were **$14.4 million**, plus a **$5.4 million** acquisition[129](index=129&type=chunk) [Financing Activities](index=29&type=section&id=Financing%20Activities) This section outlines cash flows from debt, equity, and dividend transactions affecting the company's capital structure - Net debt borrowings of **$64.9 million** (YTD 2022) funded higher working capital[130](index=130&type=chunk) - Cash dividends paid were **$3.2 million** (YTD 2022)[130](index=130&type=chunk) [Liquidity](index=29&type=section&id=Liquidity) This section assesses the company's ability to meet short-term obligations, including cash and borrowing availability - Total liquidity was **$200.5 million** as of June 30, 2022, comprising **$61.1 million** cash and **$139.4 million** unused borrowing availability[133](index=133&type=chunk) - Foreign subsidiaries held **$44.2 million** in cash, with no material repatriation restrictions expected[134](index=134&type=chunk) [Senior Notes](index=30&type=section&id=Senior%20Notes) This section describes the company's unsecured senior notes, including their issuance and maturity details - In April 2017, **$350.0 million** of **6.625% Senior Notes** due 2027 were issued to repay previous debt and revolving credit facility borrowings[136](index=136&type=chunk) [Credit Agreement](index=30&type=section&id=Credit%20Agreement) This section outlines the terms of the company's revolving credit facility, including its maturity and capacity - The revolving credit facility is for **$405.0 million**, maturing November 26, 2024, with an option to increase by **$70.0 million**[137](index=137&type=chunk) [Finance Leases](index=30&type=section&id=Finance%20Leases) This section details the company's finance lease obligations for machinery and equipment - The Company has a **$50.0 million** finance lease agreement, with **$14.5 million** borrowed as of June 30, 2022, for machinery and equipment[138](index=138&type=chunk) [Covenants](index=30&type=section&id=Covenants) This section discusses the company's compliance with debt covenants and potential impacts on borrowing capacity - Borrowing availability under the Credit Agreement is subject to a debt service ratio covenant if calculated availability falls below **$46.875 million**[139](index=139&type=chunk) - As of June 30, 2022, calculated availability was **$101.5 million**, so the covenant did not apply[139](index=139&type=chunk) - Compliance with covenants is expected, but future sales declines or customer payment issues could adversely impact borrowing capacity[141](index=141&type=chunk) [Dividends](index=31&type=section&id=Dividends) This section reports on dividends paid and declared, noting the Board's discretion for future distributions - Paid **$3.2 million** in dividends (YTD 2022)[143](index=143&type=chunk) - A quarterly dividend of **$0.125 per share** was declared on July 22, 2022[143](index=143&type=chunk) - Future dividends are at the Board's discretion[143](index=143&type=chunk) [Seasonality; Variability of Operating Results](index=31&type=section&id=Seasonality%3B%20Variability%20of%20Operating%20Results) This section explains factors causing fluctuations in operating results, such as customer orders and economic conditions - Operating results can fluctuate significantly due to variable customer order timing, production schedules, competitive conditions, and general economic conditions, particularly in the capital equipment business[144](index=144&type=chunk) [Critical Accounting Policies](index=31&type=section&id=Critical%20Accounting%20Policies) This section confirms no new critical accounting policies and highlights the role of management's estimates - No new critical accounting policies or updates were made in this Quarterly Report[145](index=145&type=chunk) - Management's judgments and estimates are crucial for financial statement amounts[146](index=146&type=chunk) [Forward-Looking Statements](index=31&type=section&id=Forward-Looking%20Statements) This section cautions that the report contains forward-looking statements subject to various known and unknown risks - The report contains forward-looking statements subject to known and unknown risks, including the impact of COVID-19, indebtedness, global economic uncertainty, raw material/energy costs, supply chain issues, and regulatory changes[147](index=147&type=chunk)[148](index=148&type=chunk)[149](index=149&type=chunk) [Item 3. Quantitative and Qualitative Disclosure About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosure%20About%20Market%20Risk) This section details the company's exposure to market risks, including interest rate and foreign currency translation risks - Exposed to interest rate risk on floating-rate revolving credit facility; a **100-basis-point increase** would raise interest expense by approximately **$1.4 million** over six months[150](index=150&type=chunk) - Faces foreign currency translation risks from foreign subsidiaries' local currency operations, affecting U.S. dollar reported sales and expenses[151](index=151&type=chunk) - Translation adjustments are recorded in Accumulated other comprehensive loss[151](index=151&type=chunk) - Largest commodity price exposures are to metal and natural gas[152](index=152&type=chunk) - A foreign currency forward contract was entered into during the six months ended June 30, 2022, but is not expected to have a material impact[152](index=152&type=chunk) [Item 4. Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) This section confirms the effectiveness of disclosure controls and reports no material changes in internal control [Evaluation of disclosure controls and procedures.](index=32&type=section&id=Evaluation%20of%20disclosure%20controls%20and%20procedures.) This section confirms the effectiveness of the company's disclosure controls and procedures as of the reporting date - Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2022[153](index=153&type=chunk) [Changes in internal control over financial reporting.](index=32&type=section&id=Changes%20in%20internal%20control%20over%20financial%20reporting.) This section reports that no material changes occurred in internal control over financial reporting during the quarter - No material changes in internal control over financial reporting occurred during the quarter ended June 30, 2022[155](index=155&type=chunk) Part II [Other Information](index=34&type=section&id=Part%20II.%20Other%20Information) This section provides additional information on legal proceedings, risk factors, equity sales, and exhibits [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) This section details the company's legal claims, including asbestos cases, and management's assessment of their impact - The Company is a co-defendant in **99 asbestos cases** involving **161 plaintiffs**, alleging personal injury from asbestos exposure[158](index=158&type=chunk) - Historically, the Company has been dismissed from asbestos cases due to incorrect subsidiary naming or failure to identify Company products/premises[161](index=161&type=chunk) - Management intends to vigorously defend these cases[161](index=161&type=chunk) - Management believes the ultimate resolution of these matters will not have a material adverse effect on financial condition, liquidity, or results of operations, citing historical success in dismissals and lack of causal relationship[161](index=161&type=chunk)[162](index=162&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) This section confirms no material changes to the risk factors previously disclosed in the Annual Report - No material changes to risk factors since the Annual Report on Form 10-K for the year ended December 31, 2021[163](index=163&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section summarizes common stock repurchases, primarily for settling withholding tax liabilities on restricted awards **Common Stock Repurchases (Quarter Ended June 30, 2022):** | Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans (1) | Maximum Number of Shares That May Yet Be Purchased Under the Plans or Program (1) | | :------------------------ | :------------------------------- | :--------------------------- | :----------------------------------------------------------------------- | :-------------------------------------------------------------------------------- | | April 1 — April 30, 2022 | 430 (2) | $12.69 | — | 444,424 | | May 1 — May 31, 2022 | — (2) | — | — | 444,424 | | June 1 — June 30, 2022 | 59,721 (2) | $17.57 | — | 444,424 | | **Total** | **60,151** | **$17.53** | **—** | **444,424** | - The repurchased shares (**60,151 total**) were acquired from restricted stock award recipients to settle withholding tax liabilities[166](index=166&type=chunk) - A share repurchase program announced on March 11, 2020, allows for the repurchase of up to **1.0 million shares**, with **444,424 shares** remaining available[165](index=165&type=chunk) [Item 6. Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including credit agreement amendments and officer certifications - Exhibits include Amendment No. 7 to the Seventh Amended and Restated Credit Agreement, Principal Executive and Financial Officer's Certifications (Sections 302 and 906 of Sarbanes-Oxley Act), and Inline XBRL documents[168](index=168&type=chunk) [Signatures](index=38&type=section&id=Signatures) This section contains the registrant's signature, confirming due authorization and filing of the report - The report was signed by Patrick W. Fogarty, Vice President and Chief Financial Officer, on August 3, 2022[171](index=171&type=chunk)[172](index=172&type=chunk)

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q1 2022 Results Conference Call May 10, 2022 10:00 AM ET Company Participants Matthew Crawford - Chairman, President and CEO Pat Fogarty - VP and CFO Conference Call Participants Steve Barger - KeyBanc Capital Markets Marco Rodriguez - Stonegate Capital Markets Yilma Abebe - JP Morgan Jim Dowling - Jefferies Capital Operator Good morning, and welcome to the Park-Ohio First Quarter 2022 Results Conference Call. [Operator Instructions] Today’s conference call is also bei ...

Table of Contents For the quarterly period ended March 31, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or Form 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) For the transition period from __________ to __________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-03134 Park-Ohio Holdings Corp. (Exact name of registrant as specified in its charter) | ...

Park-Ohio Holdings Corp. First Quarter 2022 Earnings Call Presentation May 10, 2022 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 ...