Park Ohio Holdings Corp. Files Q3 2024 10-Q
Ticker: PKOH · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 76282
| Field | Detail |
|---|---|
| Company | Park Ohio Holdings Corp (PKOH) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Park Ohio Holdings Corp. dropped its Q3 2024 10-Q. Check financials.
AI Summary
Park Ohio Holdings Corp. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial updates for the company. Specific financial figures and operational details for the period are detailed within the report.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Park Ohio Holdings Corp., crucial for understanding the company's trajectory and making informed investment decisions.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal risks or opportunities, but without specific negative disclosures, the inherent risk is moderate.
Key Players & Entities
- PARK OHIO HOLDINGS CORP (company) — Filer
- 0000076282 (company) — Central Index Key
- 20240930 (date) — Period of Report
- 20241107 (date) — Filing Date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20241107.
What is Park Ohio Holdings Corp.'s Central Index Key?
Park Ohio Holdings Corp.'s Central Index Key is 0000076282.
What is the company's primary business classification?
The Standard Industrial Classification for Park Ohio Holdings Corp. is METAL FORGING & STAMPINGS [3460].
What is the company's fiscal year end?
Park Ohio Holdings Corp.'s fiscal year ends on 1231.
Filing Stats: 4,871 words · 19 min read · ~16 pages · Grade level 6.4 · Accepted 2024-11-07 15:39:38
Key Financial Figures
- $1.00 — ich registered Common Stock, Par Value $1.00 Per Share PKOH The NASDAQ Stock Market
Filing Documents
- pkoh-20240930.htm (10-Q) — 1251KB
- pkoh20240930-ex311.htm (EX-31.1) — 10KB
- pkoh20240930-ex312.htm (EX-31.2) — 10KB
- pkoh20240930-ex32.htm (EX-32.1) — 7KB
- 0000076282-24-000152.txt ( ) — 6565KB
- pkoh-20240930.xsd (EX-101.SCH) — 36KB
- pkoh-20240930_cal.xml (EX-101.CAL) — 75KB
- pkoh-20240930_def.xml (EX-101.DEF) — 165KB
- pkoh-20240930_lab.xml (EX-101.LAB) — 551KB
- pkoh-20240930_pre.xml (EX-101.PRE) — 364KB
- pkoh-20240930_htm.xml (XML) — 1085KB
Financial Information
Part I. Financial Information
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements 4 Notes to unaudited condensed consolidated financial statements — September 30, 2024 11
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 21
Quantitative and Qualitative Disclosure About Market Risk
Item 3. Quantitative and Qualitative Disclosure About Market Risk 31
Controls and Procedures
Item 4. Controls and Procedures 31
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 33
Risk Factors
Item 1A. Risk Factors 33
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 36
Signatures
Signatures 37 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) September 30, 2024 December 31, 2023 (In millions) ASSETS Current assets: Cash and cash equivalents $ 59.5 $ 54.8 Accounts receivable, net 276.5 263.3 Inventories, net 430.8 411.1 Other current assets 119.2 95.2 Total current assets 886.0 824.4 Property, plant and equipment, net 187.9 184.9 Operating lease right-of-use assets 43.4 44.7 Goodwill 115.7 110.2 Intangible assets, net 74.4 73.3 Other long-term assets 99.2 103.2 Total assets $ 1,406.6 $ 1,340.7 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 202.1 $ 204.0 Current portion of long-term debt and short-term debt 10.2 9.4 Current portion of operating lease liabilities 11.6 10.6 Accrued expenses and other 137.4 139.6 Total current liabilities 361.3 363.6 Long-term liabilities, less current portion: Long-term debt 651.1 633.4 Long-term operating lease liabilities 32.1 34.4 Other long-term liabilities 19.1 19.4 Total long-term liabilities 702.3 687.2 Park-Ohio Holdings Corp. and Subsidiaries shareholders' equity 335.9 280.4 Noncontrolling interests 7.1 9.5 Total equity 343.0 289.9 Total liabilities and shareholders' equity $ 1,406.6 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In millions, except per share data) Net sales $ 417.6 $ 418.8 $ 1,267.8 $ 1,270.4 Cost of sales 345.3 348.8 1,050.9 1,063.1 Selling, general and administrative expenses 47.8 43.0 142.3 135.1 Restructuring, acquisition-related and other special charges 0.9 — 2.4 6.6 Gains on sales of assets — — — ( 0.8 ) Operating income