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Park-Ohio Holdings Corp (NASDAQ:PKOH), established in 1907, stands as a pivotal player in the realms of industrial supply chain logistics and diversified manufacturing. The company boasts three key business segments: Supply Technologies, Assembly Components, and Engineered Products. With a global presence, Park-Ohio operates roughly 90 manufacturing, distribution, and service facilities, employing over 4,900 professionals worldwide.
Supply Technologies is the cornerstone of Park-Ohio’s revenue generation, offering comprehensive supply management solutions. These services range from engineering and design support to supplier selection, quality assurance, barcoding, product packaging, tracking, just-in-time (JIT) and point-of-use delivery, and electronic billing for a myriad of production components.
The Assembly Components segment delivers highly engineered, mission-critical products, primarily to the automotive industry. This includes complex assemblies such as fuel filler pipes, hydraulic assemblies, and fuel filler assemblies. Through continuous innovation and adherence to stringent quality standards, this segment has solidified its reputation among leading manufacturers.
The Engineered Products division focuses on manufacturing specialized, custom-engineered products for various industrial applications. This segment serves sectors such as aerospace, defense, power generation, and oil and gas, ensuring superior product performance and reliability.
Park-Ohio’s extensive geographical footprint spans the United States, Asia, Europe, Canada, Mexico, and beyond, enabling it to cater to a diverse clientele. The company’s strategic initiatives and partnerships are geared towards driving growth and enhancing operational efficiency. Its customer base features many of the Global 2000 companies, reflecting its strong market position and robust growth potential.
With revenues amounting to approximately $1.2 billion in 2013, Park-Ohio continues to thrive by leveraging its extensive experience and industry expertise. The company's commitment to innovation, quality, and customer satisfaction sets it apart in a competitive landscape.
ParkOhio reported strong Q3 2024 results with net sales of $418 million, nearly flat compared to Q3 2023. The company achieved improved profitability with gross margin increasing 60 basis points to 17.3%. GAAP EPS from continuing operations rose to $1.02 per diluted share, while adjusted EPS grew 8% to $1.07. EBITDA reached $39 million, representing 9.2% of net sales. The company significantly enhanced its liquidity through debt repayments of $23 million and expects modest growth in Q4 and into 2025.
ParkOhio (NASDAQ: PKOH) has announced its Board of Directors declared a quarterly cash dividend of $0.125 per share on common stock. The dividend will be paid on November 29, 2024, to shareholders of record as of November 15, 2024. The company operates as a diversified international organization with approximately 130 manufacturing sites and supply chain logistics facilities worldwide, operating through three segments: Supply Technologies, Assembly Components, and Engineered Products.
ParkOhio (NASDAQ: PKOH) has scheduled its Third Quarter 2024 Results Conference Call for Thursday, November 7, 2024, at 10:00 a.m. Eastern Time. The webcast will be accessible online and archived on the company's website. ParkOhio operates as a diversified international company with over 130 manufacturing sites and supply chain logistics facilities across three segments: Supply Technologies, Assembly Components, and Engineered Products. The company provides supply chain management outsourcing, capital equipment, and manufactured components to world-class customers.
ParkOhio (NASDAQ: PKOH) reported record net sales of $433 million in Q2 2024, up 1% from Q2 2023. The company saw significant improvements in profitability, with gross margin increasing 50 basis points to 16.9% and operating income margin rising 120 basis points to 5.7%. GAAP income from continuing operations grew to $12.3 million, resulting in a 67% increase in GAAP EPS to $0.95 per diluted share. Adjusted EPS rose 23% to $1.02 per diluted share, while EBITDA improved 10% year-over-year to $39 million. The company's performance was driven by strong results in the Supply Technologies segment and improved margins in Engineered Products. ParkOhio expects 2-4% revenue growth for 2024 with improved adjusted EPS and EBITDA.
ParkOhio (NASDAQ: PKOH) has announced a webcast for its Second Quarter 2024 Results Conference Call, scheduled for Thursday, August 8, 2024, at 10:00 a.m. Eastern Time. The live webcast will be accessible via a provided link, with an archive available on the company's website for those unable to attend. ParkOhio is a diversified international company offering supply chain management outsourcing, capital equipment for production lines, and manufactured components. Operating through three segments - Supply Technologies, Assembly Components, and Engineered Products - the company manages over 130 manufacturing sites and supply chain logistics facilities worldwide.
ParkOhio (NASDAQ: PKOH) has declared a quarterly cash dividend of $0.125 per share on outstanding common stock. The dividend will be paid on August 16, 2024, to shareholders of record as of the close of business on August 2, 2024. ParkOhio is a diversified international company providing supply chain management outsourcing services, capital equipment for production lines, and manufactured components for product assembly.
The company operates approximately 130 manufacturing sites and supply chain logistics facilities worldwide through three reportable segments: Supply Technologies, Assembly Components, and Engineered Products. ParkOhio's headquarters are located in Cleveland, Ohio.
ParkOhio Holdings Corp. (NASDAQ: PKOH) announced strong first quarter 2024 results with net sales of $418 million, improved EPS, gross margin up 120 basis points, and EBITDA increase of 19% compared to Q1 2023. The company maintained its full-year 2024 outlook unchanged, emphasizing the positive impact of macro-economic trends and increased investments in key end markets. ParkOhio continues to focus on operating excellence and cash flow improvement throughout the year.
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