Park Ohio Holdings Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Park Ohio Holdings Corp. has submitted its 2023 10-K annual report, detailing financial performance and position.</b>

AI Summary

PARK OHIO HOLDINGS CORP (PKOH) filed a Annual Report (10-K) with the SEC on March 6, 2024. Park Ohio Holdings Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Ohio and operates in the Metal Forging & Stampings industry (SIC 3460). The filing includes financial data for the fiscal years 2021, 2022, and 2023. Key financial statement components such as Common Stock, Additional Paid-In Capital, Retained Earnings, and Treasury Stock are detailed. The report covers various financial statement elements including Property, Plant, and Equipment, and Debt.

Why It Matters

For investors and stakeholders tracking PARK OHIO HOLDINGS CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Park Ohio's financial health and operational results for the fiscal year 2023, crucial for investors assessing performance. The detailed financial data, including historical figures for 2021 and 2022, allows for trend analysis and comparison of the company's performance over multiple years.

Risk Assessment

Risk Level: low — PARK OHIO HOLDINGS CORP shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Park Ohio's performance and outlook for the upcoming fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (Reported period)
• 20240306 — Filing Date (Date of submission)
• 2021-01-01 to 2023-12-31 — Reporting Periods (Financial data spans these years)
• USD — Currency (Specified for financial reporting)

Key Players & Entities

• PARK OHIO HOLDINGS CORP (company) — Filer name
• PKOH (company) — Ticker symbol
• 20231231 (date) — Fiscal year end
• 20240306 (date) — Filing date
• CLEVELAND (location) — Business address city
• OH (location) — Business address state
• 440-947-2210 (phone) — Business phone number
• 3460 (industry) — Standard Industrial Classification for Metal Forging & Stampings

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-06: Filing Date — Date the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for understanding a company's financial standing and operations for the past fiscal year.)

SIC

Standard Industrial Classification, a system used to classify businesses based on their primary activity. (Helps categorize Park Ohio Holdings Corp. within the Metal Forging & Stampings industry, providing context for its operations.)

Key Financial Figures

• $1.00 — ich registered Common Stock, Par Value $1.00 Per Share PKOH The NASDAQ Stock Market
• $19.00 — 4,995,109 based on the closing price of $19.00 per share of the registrant's Common St
• $50.5 million — Automotive Group ("Angstrom") for up to $50.5 million in cash and promissory notes, plus the
• $3 million — s, plus the assumption of approximately $3 million of finance lease obligations. The total
• $20.0 million — ice consisted of a cash down payment of $20.0 million paid to the Company in December 2022; c
• $15.5 million — o the Company in December 2022; cash of $15.5 million paid to the Company at closing; and pro
• $15.0 million — closing; and promissory notes totaling $15.0 million payable to the Company on December 31,
• $10.0 million — Company on December 31, 2024, of which $10.0 million is contingent on the Aluminum Products
• $763.4 million — ngineered Products NET SALES FOR 2023 $763.4 million $427.8 million $468.5 million SELECTED
• $427.8 million — cts NET SALES FOR 2023 $763.4 million $427.8 million $468.5 million SELECTED PRODUCTS Sourc
• $468.5 million — FOR 2023 $763.4 million $427.8 million $468.5 million SELECTED PRODUCTS Sourcing, planning a

Filing Documents

• pkoh-20231231.htm (10-K) — 2133KB
• pkoh20231231-ex211.htm (EX-21.1) — 71KB
• pkoh20231231-ex231.htm (EX-23.1) — 5KB
• pkoh20231231-ex241.htm (EX-24.1) — 12KB
• pkoh20231231-ex311.htm (EX-31.1) — 10KB
• pkoh20231231-ex312.htm (EX-31.2) — 10KB
• pkoh20231231-ex321.htm (EX-32.1) — 7KB
• pkoh20231231-ex971.htm (EX-97.1) — 26KB
• 0000076282-24-000013.txt (&nbsp;) — 12254KB
• pkoh-20231231.xsd (EX-101.SCH) — 65KB
• pkoh-20231231_cal.xml (EX-101.CAL) — 142KB
• pkoh-20231231_def.xml (EX-101.DEF) — 330KB
• pkoh-20231231_lab.xml (EX-101.LAB) — 933KB
• pkoh-20231231_pre.xml (EX-101.PRE) — 656KB
• pkoh-20231231_htm.xml (XML) — 2326KB

Signatures

Signatures 77 1 Table of Contents Part I 2 Table of Contents

Business

Item 1. Business Overview Park-Ohio Holdings Corp. ("Holdings" or "ParkOhio"), incorporated in Ohio since 1998, is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. References herein to "we" or "the Company" include, where applicable, Holdings and Park-Ohio Industries, Inc. and Holdings' other direct and indirect subsidiaries. The Company operates through three reportable segments: Supply Technologies, Assembly Components and Engineered Products. As of December 31, 2023, we employed approximately 6,300 people. On December 29, 2023, the Company completed the sale of its Aluminum Products business to Angstrom Automotive Group ("Angstrom") for up to $50.5 million in cash and promissory notes, plus the assumption of approximately $3 million of finance lease obligations. The total purchase price consisted of a cash down payment of $20.0 million paid to the Company in December 2022; cash of $15.5 million paid to the Company at closing; and promissory notes totaling $15.0 million payable to the Company on December 31, 2024, of which $10.0 million is contingent on the Aluminum Products business attaining certain purchase commitments during 2024. 3 Table of Contents The following table summarizes the key attributes of each of our business segments: Supply Technologies Assembly Components Engineered Products NET SALES FOR 2023 $763.4 million $427.8 million $468.5 million SELECTED PRODUCTS Sourcing, planning and procurement of over 280,000 production components, including: Fasteners Pins Valves Hoses Wire harnesses Clamps and fittings Rubber and plastic components Other Class C and MRO products Fuel rails Fuel filler assemblies Extruded rubber and plastics Molded rubber and plastics Induction heating and melting systems Pipe threading systems Industrial oven systems

View Full Filing

View this 10-K filing on SEC EDGAR