Park-Ohio Holdings (NASDAQ: PKOH) reported Q3 EPS of $1.15, $0.05 worse than the analyst estimate of $1.20. Revenue for the quarter came in at $344.6 million versus the consensus estimate of $347.4 million.

014 REVENUE AND EARNINGS GUIDANCE UPDATE

We currently forecast our consolidated 2014 revenues to be approximately 13.5% to 14.5% greater than 2013 revenues. We are also updating our forecast of earnings from continuing operations attributable to ParkOhio common shareholders per diluted share to be in the range of $3.99 to $4.19 per diluted share, which is 20.5% to 26.6% greater than the earnings from continuing operations attributable to ParkOhio common shareholders of $3.31 per diluted share in 2013. As adjusted earnings are forecasted to increase 12.6% to 18.0% in 2014 to be in the range of $4.12 to $4.32 per diluted share compared to $3.66 per diluted share in 2013. The increase in 2014 forecasted as adjusted earnings per diluted share is primarily attributable to the growth in the Supply Technologies segment and the Assembly Components segment and the expected strong fourth quarter for the Engineered Products segment. Please refer to the table that follows for a reconciliation of forecasted earnings from continuing operations to as adjusted earnings.

In addition, we are forecasting EBITDA, as defined, to be in the range of $132.5 million to $137.0 million for the year ended December 31, 2014. EBITDA, as defined, reflects earnings before interest expense, income taxes, and excludes depreciation, amortization, certain non-cash charges and corporate-level expenses as defined in the Company’s revolving credit agreement.

Edward F. Crawford, Chairman and Chief Executive Officer stated, “We are very pleased with our revenue and EBITDA growth records that we established in the third quarter, and we look forward to setting new records with our most recent acquisition of Autoform.”

For earnings history and earnings-related data on Park-Ohio Holdings (PKOH) click here.