Diversified manufacturing and supply chain services provider Park-Ohio (NASDAQ: PKOH) will be announcing earnings results this Wednesday after the bell. Here’s what to expect.
Park-Ohio missed analysts’ revenue expectations by 4.7% last quarter, reporting revenues of $405.4 million, down 2.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is Park-Ohio a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Park-Ohio’s revenue to decline 6.3% year on year to $405.4 million, a reversal from the 1.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.72 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 five times over the last two years.
Looking at Park-Ohio’s peers in the engineered components and systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Arrow Electronics delivered year-on-year revenue growth of 10%, beating analysts’ expectations by 5.9%, and Worthington reported flat revenue, topping estimates by 5.6%. Arrow Electronics traded down 11.7% following the results while Worthington was up 1.8%.
Read our full analysis of Arrow Electronics’s results here and Worthington’s results here.
Investors in the engineered components and systems segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Park-Ohio is down 11.6% during the same time.
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