$PKOH
PARK OHIO HOLDINGS CORP

2024 Q1 Form 10-Q Financial Statement

#000007628224000033 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $417.6M $389.3M
YoY Change -1.39% 2.02%
Cost Of Revenue $346.2M $325.2M
YoY Change -2.83% -0.28%
Gross Profit $71.40M $64.10M
YoY Change 6.25% 15.5%
Gross Profit Margin 17.1% 16.47%
Selling, General & Admin $47.10M $46.40M
YoY Change 3.97% 2.88%
% of Gross Profit 65.97% 72.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.400M $8.300M
YoY Change 9.09% 315.0%
% of Gross Profit 11.76% 12.95%
Operating Expenses $47.10M $46.40M
YoY Change 3.97% 2.88%
Operating Profit $24.30M $17.70M
YoY Change 20.3% 70.19%
Interest Expense -$11.90M -$11.70M
YoY Change -211.21% 15.84%
% of Operating Profit -48.97% -66.1%
Other Income/Expense, Net $1.300M $600.0K
YoY Change 85.71% -78.57%
Pretax Income $13.40M $6.600M
YoY Change 31.37% -240.43%
Income Tax $3.300M $0.00
% Of Pretax Income 24.63% 0.0%
Net Earnings $9.600M -$14.50M
YoY Change 65.52% -39.33%
Net Earnings / Revenue 2.3% -3.72%
Basic Earnings Per Share $0.77
Diluted Earnings Per Share $0.74 -$1.15
COMMON SHARES
Basic Shares Outstanding 13.07M shares 13.09M shares
Diluted Shares Outstanding 12.80M shares

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.60M $54.80M
YoY Change 24.19% -5.84%
Cash & Equivalents $61.60M $54.80M
Short-Term Investments
Other Short-Term Assets $109.8M $95.20M
YoY Change -9.41% 192.92%
Inventory $428.5M $411.1M
Prepaid Expenses
Receivables $283.8M $263.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $883.7M $824.4M
YoY Change -6.55% -11.58%
LONG-TERM ASSETS
Property, Plant & Equipment $228.9M $229.6M
YoY Change -1.76% -2.63%
Goodwill $114.2M $110.2M
YoY Change 4.1% 1.19%
Intangibles $76.30M $73.30M
YoY Change -1.8% -6.86%
Long-Term Investments
YoY Change
Other Assets $99.40M $28.10M
YoY Change 22.11% 66.27%
Total Long-Term Assets $518.8M $516.3M
YoY Change 3.39% 2.4%
TOTAL ASSETS
Total Short-Term Assets $883.7M $824.4M
Total Long-Term Assets $518.8M $516.3M
Total Assets $1.403B $1.341B
YoY Change -3.1% -6.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $199.3M $204.0M
YoY Change -9.61% -7.69%
Accrued Expenses $181.9M $107.8M
YoY Change 11.05% 157.89%
Deferred Revenue $67.90M $53.90M
YoY Change 32.1% 2.47%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.30M $9.400M
YoY Change -3.91% -13.76%
Total Short-Term Liabilities $393.5M $363.6M
YoY Change -11.65% -18.95%
LONG-TERM LIABILITIES
Long-Term Debt $657.3M $633.4M
YoY Change -0.57% -3.31%
Other Long-Term Liabilities $54.20M $10.40M
YoY Change 160.58% -2.8%
Total Long-Term Liabilities $711.5M $687.2M
YoY Change -1.6% -4.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $393.5M $363.6M
Total Long-Term Liabilities $711.5M $687.2M
Total Liabilities $1.114B $1.051B
YoY Change -4.66% -10.09%
SHAREHOLDERS EQUITY
Retained Earnings $240.1M
YoY Change 0.54%
Common Stock $172.9M
YoY Change 3.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $288.5M $280.4M
YoY Change
Total Liabilities & Shareholders Equity $1.403B $1.341B
YoY Change -3.1% -6.68%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $9.600M -$14.50M
YoY Change 65.52% -39.33%
Depreciation, Depletion And Amortization $8.400M $8.300M
YoY Change 9.09% 315.0%
Cash From Operating Activities -$1.300M $29.60M
YoY Change -79.03% 678.95%
INVESTING ACTIVITIES
Capital Expenditures $5.800M $7.400M
YoY Change -3.33% 131.25%
Acquisitions $11.00M
YoY Change 2100.0%
Other Investing Activities -$11.00M $13.60M
YoY Change 1733.33% -2042.86%
Cash From Investing Activities -$16.80M $6.200M
YoY Change 154.55% -258.97%
FINANCING ACTIVITIES
Cash Dividend Paid $1.600M
YoY Change 0.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.80M -33.60M
YoY Change 578.95% -1344.44%
NET CHANGE
Cash From Operating Activities -1.300M 29.60M
Cash From Investing Activities -16.80M 6.200M
Cash From Financing Activities 25.80M -33.60M
Net Change In Cash 7.700M 2.200M
YoY Change -189.53% -15.38%
FREE CASH FLOW
Cash From Operating Activities -$1.300M $29.60M
Capital Expenditures $5.800M $7.400M
Free Cash Flow -$7.100M $22.20M
YoY Change -41.8% 3600.0%

Facts In Submission

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CY2024Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
800000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
24000000.0 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20200000 usd
CY2024Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-1300000 usd
CY2023Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-700000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
11900000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
10700000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13400000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10200000 usd
CY2024Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
111300000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
107600000 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
59600000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
50100000 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
257600000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
253400000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
428500000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
411100000 usd
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
672300000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
645700000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5500000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5200000 usd
CY2024Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
400000 usd
CY2023Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
900000 usd
CY2024Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
600000 usd
CY2023Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1000000.0 usd
CY2024Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
600000 usd
CY2023Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 usd
CY2024Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
100000 usd
CY2023Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-100000 usd
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6200000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5400000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3300000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13400000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10200000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
15500000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
16300000 usd
CY2024Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
19300000 usd
CY2023Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
15900000 usd
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12800000 shares
CY2024Q1 us-gaap Debt Current
DebtCurrent
12300000 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
9400000 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2700000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2900000 usd
CY2024Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
657300000 usd
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
633400000 usd
CY2024Q1 pkoh Bank Guarantees And Letters Of Credit Amount
BankGuaranteesAndLettersOfCreditAmount
41000000 usd
CY2023Q4 pkoh Bank Guarantees And Letters Of Credit Amount
BankGuaranteesAndLettersOfCreditAmount
32800000 usd
CY2017Q4 pkoh Percentage Of Ownership Over Guarantor Subsidiaries
PercentageOfOwnershipOverGuarantorSubsidiaries
1
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1500000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1600000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
6500000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12300000 shares
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2024Q1 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
121 claim
CY2024Q1 us-gaap Loss Contingency Number Of Plaintiffs
LossContingencyNumberOfPlaintiffs
174 plaintiff
CY2024Q1 pkoh Tax On Currency Translation As Foreign Earnings Permanently Reinvested
TaxOnCurrencyTranslationAsForeignEarningsPermanentlyReinvested
0 usd
CY2023Q1 pkoh Tax On Currency Translation As Foreign Earnings Permanently Reinvested
TaxOnCurrencyTranslationAsForeignEarningsPermanentlyReinvested
0 usd
CY2023Q1 pkoh Tax On Currency Translation As Foreign Earnings Permanently Reinvested
TaxOnCurrencyTranslationAsForeignEarningsPermanentlyReinvested
0 usd
CY2024Q1 pkoh Tax On Currency Translation As Foreign Earnings Permanently Reinvested
TaxOnCurrencyTranslationAsForeignEarningsPermanentlyReinvested
0 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12400000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12200000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0000076282-24-000033.txt Edgar Link pending
0000076282-24-000033-xbrl.zip Edgar Link pending
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