2023-03-16 01:19:17 ET
- Park-Ohio press release ( NASDAQ: PKOH ): Q4 Non-GAAP EPS of -$0.09 misses by $0.55 .
- Revenue of $381.6M (+16.9% Y/Y) misses by $45.5M .
- Outlook: For 2023, we expect revenues from continuing operations to increase 5-10% year-over-year vs. estimated growth of 7.37% Y/Y, driven by increased customer demand and strong capital equipment backlogs at December 31, 2022. We also expect improvement in adjusted operating income; EBITDA, as defined; free cash flow and adjusted EPS in 2023 as a result of higher sales levels and improved operating margins in each segment.
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Park-Ohio reports Q4 earnings miss; initiates FY23 outlook