U.S. Markets open in 4 hrs 28 mins

Park-Ohio misses Street 4Q forecasts

CLEVELAND (AP) _ Park-Ohio Holdings Corp. (PKOH) on Tuesday reported fourth-quarter net income of $6.5 million.

The Cleveland-based company said it had profit of 53 cents per share. Earnings, adjusted for one-time gains and costs, were 66 cents 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 75 cents per share.

The industrial supply-chain logistics company posted revenue of $306.8 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $317.6 million.

For the year, the company reported profit of $31.7 million, or $2.58 per share. Revenue was reported as $1.28 billion.

Park-Ohio expects full-year earnings to be $3.15 to $3.35 per share.

Park-Ohio shares have fallen nearly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.40, a climb of 18 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


Keywords: Park-Ohio, Earnings Report