Diversified manufacturing and supply chain services provider Park-Ohio (NASDAQ: PKOH) will be reporting results this Wednesday after the bell. Here’s what to expect.
Park-Ohio missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $400.1 million, down 7.5% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but a slight miss of analysts’ revenue estimates.
Is Park-Ohio a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Park-Ohio’s revenue to be flat year on year at $417.3 million, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $0.83 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Park-Ohio has missed Wall Street’s revenue estimates twice since going public.
Looking at Park-Ohio’s peers in the engineered components and systems segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Timken delivered year-on-year revenue growth of 2.7%, beating analysts’ expectations by 3.6%, and Applied Industrial reported revenues up 9.2%, topping estimates by 1.1%. Timken traded up 1.9% following the results while Applied Industrial was down 2.3%.
Read our full analysis of Timken’s results here and Applied Industrial’s results here.
Investors in the engineered components and systems segment have had steady hands going into earnings, with share prices flat over the last month. Park-Ohio is down 1.4% during the same time.
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