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Park-Ohio: 3Q Earnings Snapshot

CLEVELAND (AP) _ Park-Ohio Holdings Corp. (PKOH) on Monday reported third-quarter net income of $14.2 million.

On a per-share basis, the Cleveland-based company said it had profit of $1.14. Earnings, adjusted for pretax gains, were $1.07 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The industrial supply-chain logistics company posted revenue of $414.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $404 million.

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

Park-Ohio shares have decreased 28 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.16, a fall of 28 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