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Park-Ohio: 2Q Earnings Snapshot

CLEVELAND (AP) _ Park-Ohio Holdings Corp. (PKOH) on Wednesday reported second-quarter profit of $14.8 million.

On a per-share basis, the Cleveland-based company said it had profit of $1.18. Earnings, adjusted for non-recurring gains, were $1.08 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The industrial supply-chain logistics company posted revenue of $432.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $397.8 million.

Park-Ohio expects full-year earnings in the range of $3.80 to $4 per share.

Park-Ohio shares have declined 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.75, a decrease of 6 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKOH at https://www.zacks.com/ap/PKOH