Park-Ohio Holdings (NASDAQ: PKOH) reported Q1 EPS of ($1.08), $0.96 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $370 million versus the consensus estimate of $364.2 million.

2022 OUTLOOK:

For 2022, we expect revenues to be at record levels with revenue growth of approximately 15% year-over-year, driven by strong customer demand in each segment. The revenue growth is expected in most end markets in Supply Technologies, from increased volumes from previously launched products in Assembly Components, and from the strong year-end backlogs for our capital equipment and forged and machined products in Engineered Products. Although we expect significant improvement in profitability and positive adjusted net income in 2022, we are anticipating continuing macroeconomic headwinds from demand volatility and supply chain constraints, and therefore, we will not provide further guidance at this time.

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