Park-Ohio: 2Q Earnings Snapshot
Aug. 08, 2018
CLEVELAND (AP) _ Park-Ohio Holdings Corp. (PKOH) on Wednesday reported second-quarter profit of $14.8 million.
On a per-share basis, the Cleveland-based company said it had profit of $1.18. Earnings, adjusted for non-recurring gains, were $1.08 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The industrial supply-chain logistics company posted revenue of $432.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $397.8 million.
Park-Ohio expects full-year earnings in the range of $3.80 to $4 per share.
Park-Ohio shares have declined 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.75, a decrease of 6 percent in the last 12 months.