Park-ohio Holdings Corp. · NASDAQ:PKOH
Park-ohio — Q2 2023 Earnings Presentation
10 slides from Park-ohio's earnings presentation, Aug 3, 2023
Slide 1: Second Quarter 2023 Earnings Call Presentation
Park-Ohio Holdings Corp. Second Quarter 2023 Earnings Call Presentation August 3, 2023
Slide 2: Forward-Looking Statements and Non-GAAP Measures
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 achievem
Slide 3: Second Quarter 2023 Highlights
Second Quarter 2023 Highlights Record net sales of $428 million, up 16% year-over-year; strong organic growth in all business segments Gross margin from continuing operations of 16.4%, an improvement of 190 basis points year-over-year Operating income from continuing operations of $19 million,
Slide 4: Consolidated Results
Consolidated Results (in millions, except EPS) Net Sales Adjusted EPS EBITDA, as defined, from continuing $0.83 operations $428 $36 $370 $0.49 $26 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Q2 2022 Q2 2023 • Increase in sales from continuing operations was driven by stronger customer demand across most key end
Slide 5: Supply Technologies Segment
Supply Technologies Segment (in millions) Net Sales Adjusted Operating Income $197 $15 $176 $13 Q2 2022 Q2 2023 Q2 2022 Q2 2023 • Sales increased 12% year-over-year driven by • Sales in our fastener manufacturing business were up higher sales volumes in most key end markets and 19% year-over-year du
Slide 6: Assembly Components Segment
Assembly Components Segment (in millions) Net Sales Adjusted Operating Income $112 $95 $10 $0 Q2 2022 Q2 2023 Q2 2022 Q2 2023 • Sales increased 17% year-over-year driven by • These positive factors more than offset the negative higher customer demand and increased product impacts of general inflatio
Slide 7: Engineered Products Segment
Engineered Products Segment (in millions) Net Sales Adjusted Operating Income $119 $8 $99 $6 Q2 2022 Q2 2023 Q2 2022 Q2 2023 • Sales increased 20% year-over-year driven by strong demand in both our • Adjusted operating income was down $2 million from the prior capital equipment business and our forg
Slide 8: 2023 Expectations
2023 Expectations Full Year 2023 Outlook: Sales growth guidance revised to 10-15% year-over-year, up from 5-10% previously Higher adjusted operating income, EBITDA as defined, free cash flow and adjusted EPS. 2023 guidance expected to result from higher sales levels and improved operating marg
Slide 9: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended June 30, Adjusted EPS: 2023 2022 Income from continuing operations per common share attributable to Park-Ohio Holdings Corp. common shareholders $ 0.57 $ 0.52 Adjustments: Restructuring and other special charges 0.19 0.19 Severance 0.15 - Gains on sales of
Slide 10: Non-GAAP Reconciliations (continued)
Non-GAAP Reconciliations (continued) 10