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Park-Ohio Holdings Corp. (PKOH) Q3 2023 Earnings Call Transcript

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Park-Ohio Holdings Corp. (NASDAQ:PKOH) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET

Company Participants

Matthew Crawford – Chairman, Chief Executive Officer and President

Patrick Fogarty – Vice President and Chief Financial Officer

Conference Call Participants

David Storms – Stonegate Capital Markets

Christian Zyla – KeyBanc Capital Markets

Operator

Good morning, and welcome to the Park-Ohio Third Quarter 2023 Results Conference Call. [Operator Instructions] Today’s conference is also recorded [Operator Instructions] Before we get started, I want to remind everyone that certain statements made on today’s call may be forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. The list of relevant risks and uncertainties may be found in the earnings press release as well as in the company’s 2022 10-K, which was filed on March 16, 2023, with the SEC.

Additionally, the company may discuss adjusted EPS, adjusted operating income and EBITDA as defined on a continuing operations or consolidated basis. These metrics are not measures of performance under generally accepted accounting principles. For a reconciliation of EPS to adjusted EPS, operating income to adjusted operating income and net income attributable to Park-Ohio common shareholders to EBITDA as defined, please refer to the company’s earnings recent release.

I will now turn the conference over to Mr. Matthew Crawford, Chairman, President and CEO. Please proceed, Mr. Crawford.

Matthew Crawford

Thank you very much. And good morning to everybody. Let me start by going off script here a little bit and discuss how we view our results as compared to prior periods.

As I’ve stated before, despite how demand volatility, supply change challenges, inflation and labor have challenged our results over the last couple of years, our business model

Read the full article here

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