Tonix Pharmaceuticals stock halted ahead of FDA approval news
CLEVELAND - Park-Ohio Holdings Corp. (NASDAQ:PKOH) reported fourth quarter earnings that missed analyst expectations, as revenue came in below forecasts.
The diversified manufacturing and supply chain company posted adjusted earnings per share of $0.67, falling short of the $0.71 consensus estimate. Revenue for the quarter was $388.4 million, missing the $419.1 million analysts were expecting.
The company’s Supply Technologies segment saw a 2% increase in net sales to $181.8 million, driven by strong demand in aerospace and defense, heavy-duty truck, and other key markets. However, the Assembly Components segment experienced a revenue decline to $89.7 million from $97 million a year ago, impacted by OEM plant shutdowns and lower volumes on certain programs.
For the full year 2024, Park-Ohio reported net sales of $1.66 billion and adjusted earnings per share of $3.59, up 17% from 2023. The company highlighted improved metrics around margin, cash flow and leverage despite a "more moderate growth environment."
Looking ahead to 2025, Park-Ohio expects year-over-year sales growth of 2% to 4%, citing stable demand across most key end markets. Management also anticipates improvements in adjusted operating income, net income, and EBITDA. The company noted potential impacts from recent tariff actions, which may increase costs for some imported goods but could benefit U.S. manufacturing operations.
Park-Ohio CEO Matthew V. Crawford commented, "We concluded 2024 by continuing to demonstrate improved metrics around margin, cash flow and leverage even in a more moderate growth environment."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.