Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q3 2020 Earnings Conference Call November 4, 2020 10:00 AM ET Company Participants Matthew Crawford - CEO Pat Fogarty - CFO Conference Call Participants Steve Barger - KeyBanc Capital Markets Sarkis Sherbetchyan - B. Riley Securities Marco Rodriguez - Stonegate Capital Markets Operator Good morning, and welcome to the Park-Ohio Third Quarter 2020 Results Conference Call. [Operator Instructions] Today's conference is also being recorded. [Operator Instructions] Before w ...

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q2 2020 Earnings Conference Call August 5, 2020 10:00 AM ET Company Participants Matthew Crawford - Chairman, CEO and President Pat Fogarty - CFO Conference Call Participants Sarkis Sherbetchyan - B. Riley FBR Steve Barger - KeyBanc Capital Markets Marco Rodriguez - Stonegate Capital Markets Steve Barger - KeyBanc Capital Markets Operator Good morning, and welcome to the Park-Ohio Second Quarter 2020 Results Conference Call. At this time, all participants are in a list ...

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q1 2020 Results Conference Call May 7, 2020 1:00 PM ET Company Participants Matthew Crawford - Chairman, CEO and President Pat Fogarty - CFO Conference Call Participants Edward Marshall - Sidoti & Company Steve Barger - KeyBanc Capital Markets Marco Rodriguez - Stonegate Capital Markets George Melas - MKH Management Operator Good morning, and welcome to the Park-Ohio First Quarter 2020 Results Conference Call. At this time, all participants are in a listen-only mode. A ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q4 2019 were $380 million, down 7% from $406 million in Q4 2018, driven by lower volumes in Supply Technologies and Assembly Components segments [24] - Gross margin for Q4 was 16.4%, with an improvement in the second half of 2019 to 16.5% compared to 16.1% in the first half, indicating the effectiveness of margin improvement initiatives [25] - Operating income for Q4 was $17.5 million, down from $23.2 million a year ago, attributed to lower sales levels [26] - GAAP EPS and adjusted EPS were $0.61 and $0.65, respectively, reflecting a decline in earnings [26] - Operating cash flow in Q4 was $30.2 million, and free cash flow was $21.7 million, with free cash flow for the second half of 2019 totaling $41 million, a 25% increase over the same period in 2018 [26][40] Business Line Data and Key Metrics Changes - In Supply Technologies, Q4 sales totaled $136 million, down from $155 million in the same period in 2018, with full-year sales at $612 million, a 4% decline year-over-year [27] - Assembly Components segment reported Q4 sales of $129 million, down 3% from $134 million in Q4 2018, with full-year sales at $540 million, down from $578 million in 2018 [32] - Engineered Products segment sales in Q4 were $114 million, compared to $118 million in Q4 2018, with full-year sales increasing 5% to $467 million [35][36] Market Data and Key Metrics Changes - The company experienced a significant slowdown in its Mainland China business, impacting new business opportunities, although this market is not a major part of its revenue profile [12] - Demand in the oil and gas market has softened, affecting the Engineered Products segment, while the aerospace and defense market showed growth [12][29] Company Strategy and Development Direction - The company launched two new production facilities and expanded one in engineered products, enhancing strategic positioning and cost competitiveness [6] - Efforts to combat tariff impacts included supply chain adjustments and price increases, alongside margin enhancement initiatives that improved gross margins [8] - The company aims to increase earnings year-over-year and improve consolidated operating margins through various initiatives [41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the coronavirus outbreak and its potential impact on business, particularly in the oil and gas end markets [10][13] - Despite the uncertainties, management expressed confidence in the company's liquidity position and ability to weather economic downturns due to its diverse business model [14][40] - The company is focused on expense control and margin improvement while remaining optimistic about future growth opportunities [96][98] Other Important Information - The company amended its bank credit facility to extend its term to 2024 and improve pricing on borrowings [22] - A strategic acquisition of Erie Press, a supplier to the aerospace industry, was completed, with its results included in the Engineered Products segment [22] Q&A Session Summary Question: Impact of coronavirus on operations - Management noted no customer disruptions or failures to meet shipments, but acknowledged a softening in the oil and gas market and challenges in the Chinese market [50][52] Question: CapEx expectations - Management indicated that CapEx would be significantly lower than the previous two years, with a normal run rate expected to be between $25 million and $30 million [72] Question: Supply chain disruptions - Management stated that they have not been notified of any major disruptions in the automotive supply chain, although some OEMs are paying premium freight to secure parts [78] Question: Growth expectations for Supply Tech and Assembly - Management expressed cautious optimism for growth in Assembly Components due to new product launches, while acknowledging challenges in the heavy-duty truck market for Supply Technologies [88][89] Question: M&A environment - Management indicated that the current market volatility is affecting M&A valuations and that due diligence efforts are increasing [101]

Park-Ohio Holdings Corp (NASDAQ:PKOH) Q3 2019 Earnings Conference Call November 5, 2019 10:00 AM ET Company Participants Matthew Crawford - Chairman, Chief Executive Officer and President Pat Fogarty - Chief Financial Officer Conference Call Participants Chris Van Horn - B. Riley FBR Steve Barger - KeyBanc Capital Markets Edward Marshall - Sidoti and Company Marco Rodriguez - Stonegate Capital Partners Operator Good morning, and welcome to the Park-Ohio Third Quarter 2019 Results Conference Call. [Operator ...

Financial Data and Key Metrics Changes - Consolidated sales for Q2 2019 were $415 million, down from $432 million in the previous year, primarily due to weaker demand in Asia and Europe [13][21] - Consolidated gross margins decreased to 15.9% from 16.9% year-over-year, impacted by one-time plant closing costs and lower sales levels [14][15] - GAAP earnings per share (EPS) were $0.61, compared to $1.18 a year ago, while adjusted EPS was $1.07, slightly down from $1.08 [17] - Operating cash flow for the first six months was $2.8 million, with expectations of $50 million to $60 million in the second half of the year [18] Business Line Data and Key Metrics Changes - In the Supply Technologies segment, sales were $162 million, down from $166 million, with a 19% decline in semiconductor sales and a 13% decline in consumer electronics [21][22] - The Assembly Components segment saw an 11% year-over-year sales decline, attributed to end-of-life programs and lower production levels in China [23][24] - The Engineered Products segment experienced a 4% increase in sales, driven by strong demand for induction heating equipment and aftermarket parts, with bookings up 12% year-over-year [26][28] Market Data and Key Metrics Changes - Demand in Asia and Europe for certain key end markets has weakened, affecting overall sales performance [13][21] - The automotive market is experiencing a shift, with expectations of increased content per vehicle due to stricter global emission regulations [24] Company Strategy and Development Direction - The company is focusing on innovation and diversification, particularly in the automotive sector, with significant investments in electrification and emissions compliance [37][38] - The acquisition of Erie Press Systems is expected to enhance the engineered products segment and expand market presence in aerospace [10][51] - The company aims to maintain a leverage ratio below three times to ensure flexibility for future acquisitions while focusing on reducing debt [82][84] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic risks but expressed confidence in the company's ability to generate strong cash flows and enhance margins through new business launches [33][34] - The company is optimistic about the second half of the year, expecting improved performance from new business initiatives and cost-reduction actions [31][33] Other Important Information - Capital expenditures for the quarter were $10 million, with a full-year expectation of $30 million to $35 million [19][20] - The company is in a strong liquidity position with $224 million available, including cash and credit arrangements [19] Q&A Session Summary Question: Comment on diversified international development plans - Management highlighted the long-standing strategy of diversification and innovation, particularly in auto investments in China and acquisitions in Europe [37][38] Question: Guidance range and influencing factors - Management explained that the guidance range reflects a narrow set of dollar earnings, with a focus on executing investments and pricing strategies [45][46] Question: Profitability of incremental revenue from new programs - Management indicated that while launching multiple programs may dilute earnings initially, profitability will improve as expenses are absorbed [59][60] Question: Market conditions in the semiconductor and consumer electronics sectors - Management noted weakness in these sectors but emphasized that they represent a smaller portion of overall performance [78] Question: Update on China auto market and compliance pressures - Management confirmed that compliance pressures are significant, impacting sales and production plans for OEMs in China [67][68] Question: Cash taxes and future sales guidance - Management expects cash taxes to range from $15 million to $20 million for the year and reaffirmed long-term sales and EBITDA margin targets [96][97]

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q1 2019 Results Conference Call May 7, 2019 10:00 AM ET Company Participants Matthew Crawford - Chairman and CEO Ed Crawford - President Pat Fogarty - CFO Bob Vilsack - Chief Legal Counsel Conference Call Participants Edward Marshall - Sidoti & Company Steve Barger - KeyBanc Capital Markets Marco Rodriguez - Stonegate Capital Partners Operator Good morning, and welcome to the Park-Ohio First Quarter 2019 Results Conference Call. [Operator instructions] Today's conferen ...

Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q4 2018 Earnings Conference Call March 5, 2019 10:00 AM ET Company Participants Matthew Crawford - CEO Ed Crawford - President Pat Fogarty - CFO Conference Call Participants Edward Marshall - Sidoti & Company Ken Newman - KeyBanc Capital Markets Marco Rodriguez - Stonegate Capital Markets Operator Good morning and welcome to the Park-Ohio Fourth Quarter and Full Year 2018 Results Conference Call. [Operator Instructions] Today's conference is also being recorded. If you ...