Park Ohio Holdings Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Park Ohio Holdings Corp. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

PARK OHIO HOLDINGS CORP (PKOH) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Park Ohio Holdings Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Park Ohio Holdings Corp. is incorporated in Ohio. The company's business and mailing address is 6065 Parkland Blvd., Cleveland, OH 44124.

Why It Matters

For investors and stakeholders tracking PARK OHIO HOLDINGS CORP, this filing contains several important signals. This filing provides investors with crucial, up-to-date financial information for the first quarter of 2024, enabling informed investment decisions. The 10-Q filing is a standard requirement for publicly traded companies, ensuring transparency and regulatory compliance with the SEC.

Risk Assessment

Risk Level: low — PARK OHIO HOLDINGS CORP shows low risk based on this filing. The filing is a routine 10-Q, indicating no immediate or significant new risks or material changes have been disclosed beyond standard reporting requirements.

Analyst Insight

Monitor future 10-Q and 10-K filings for detailed financial performance, segment revenues, and any emerging risk factors.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-04-30 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)
• OH — State of Incorporation (State of incorporation)

Key Players & Entities

• PARK OHIO HOLDINGS CORP (company) — Filer name
• PKOH (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-04-30 (date) — Filed as of date
• 6065 PARKLAND BLVD. (address) — Business address street 1
• CLEVELAND (address) — Business address city
• OH (address) — Business address state
• 44124 (address) — Business address zip

FAQ

Industry Context

Park Ohio Holdings Corp. operates in the Metal Forging & Stampings industry (SIC code 3460).

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance if revenue data becomes available in subsequent filings.
3. Track any updates on operational or financial risks mentioned in future SEC submissions.

Key Dates

• 2024-03-31: Quarterly Report End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal quarter ending March 31, 2024. Comparative data from previous periods will be available in the full report.

Key Financial Figures

• $1.00 — ich registered Common Stock, Par Value $1.00 Per Share PKOH The NASDAQ Stock Market

Filing Documents

• pkoh-20240331.htm (10-Q) — 849KB
• pkoh20240331-ex311.htm (EX-31.1) — 10KB
• pkoh20240331-ex312.htm (EX-31.2) — 10KB
• pkoh20240331-ex32.htm (EX-32.1) — 7KB
• 0000076282-24-000033.txt (&nbsp;) — 5292KB
• pkoh-20240331.xsd (EX-101.SCH) — 35KB
• pkoh-20240331_cal.xml (EX-101.CAL) — 75KB
• pkoh-20240331_def.xml (EX-101.DEF) — 154KB
• pkoh-20240331_lab.xml (EX-101.LAB) — 513KB
• pkoh-20240331_pre.xml (EX-101.PRE) — 344KB
• pkoh-20240331_htm.xml (XML) — 711KB

Financial Information

Part I. Financial Information

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 4 Notes to unaudited condensed consolidated financial statements — March 31, 2024 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 31

Signatures

Signatures 32 2 Table of Contents

Financial Information

Part I. Financial Information 3 Table of Contents

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 4 Table of Contents Park-Ohio Holdings Corp. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) March 31, 2024 December 31, 2023 (In millions) ASSETS Current assets: Cash and cash equivalents $ 61.6 $ 54.8 Accounts receivable, net 283.8 263.3 Inventories, net 428.5 411.1 Other current assets 109.8 95.2 Total current assets 883.7 824.4 Property, plant and equipment, net 184.0 184.9 Operating lease right-of-use assets 44.9 44.7 Goodwill 114.2 110.2 Intangible assets, net 76.3 73.3 Other long-term assets 99.4 103.2 Total assets $ 1,402.5 $ 1,340.7 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 199.3 $ 204.0 Current portion of long-term debt and short-term debt 12.3 9.4 Current portion of operating lease liabilities 11.6 10.6 Accrued expenses and other 170.3 139.6 Total current liabilities 393.5 363.6 Long-term liabilities, less current portion: Long-term debt 657.3 633.4 Long-term operating lease liabilities 33.6 34.4 Other long-term liabilities 20.6 19.4 Total long-term liabilities 711.5 687.2 Park-Ohio Holdings Corp. and Subsidiaries shareholders' equity 288.5 280.4 Noncontrolling interests 9.0 9.5 Total equity 297.5 289.9 Total liabilities and shareholders' equity $ 1,402.5 $ 1,340.7 Refer to the accompanying notes to these unaudited condensed consolidated financial statements. 5 Table of Contents Park-Ohio Holdings Corp. and Subsidiaries Condensed Consolidated Statements of Income (Unaudited) Three Months Ended March 31, 2024 2023 (In millions, except per share data) Net sales $ 417.6 $ 423.5 Cost of sales 346.2 356.3 Selling, general and administrative expenses 47.1 45.3 Restructuring, acquisition-related and other special charges 0.3 2.5 Gains on sales of assets — ( 0.8 ) Operating income 24.0 20.2 Other components of pension and other postretirement benefits income, net 1.3 0.7 Interest expe

View Full Filing

View this 10-Q filing on SEC EDGAR