Park-Ohio: 2Q Earnings Snapshot
CLEVELAND (AP) _ Park-Ohio Holdings Corp. (PKOH) on Monday reported second-quarter net income of $7.6 million.
The Cleveland-based company said it had net income of 61 cents per share. Earnings, adjusted for one-time gains and costs, were $1.07 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The industrial supply-chain logistics company posted revenue of $415.3 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $438.6 million.
Park-Ohio expects full-year earnings in the range of $4.30 to $4.60 per share.
Park-Ohio shares have decreased roughly 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.98, a decrease of 23% in the last 12 months.