PKOH · Park-Ohio Holdings Corp.

Park-Ohio Holdings Corp. delivered first quarter 2026 results reflecting continued momentum from 2025, with revenue reaching $421.0 million, a 4% increase year-over-year driven by sales growth in all segments: Supply Technologies up 4% to $195.1 million on strength in power sports, semiconductor, aerospace, defense, electrical, and agriculture; Assembly Components up 3% to $100.2 million from new business and automotive demand; Engineered Products up 4% to $125.7 million with bookings of $62 million and backlog expanding 9% from year-end 2025 to $195.9 million. Gross margin expanded 50 basis points to 17.3%, supported by operating leverage and transformation initiatives including automation and vertical integration. EBITDA rose to $34.3 million (8.1% margin), while GAAP diluted EPS from continuing operations was $0.58 and adjusted $0.65. CEO Matthew V. Crawford highlighted alignment with growth markets like data centers, infrastructure, aerospace, defense, and electrification. Notably, the company engaged an investment bank to review strategic alternatives for its Southwest Steel Processing (SSP) business within Engineered Products, a fully automated forging facility with $45 million net assets at quarter-end, impacted by prior railcar market weakness and $7.7 million impairments in Q4 2025. Excluding SSP, adjusted EPS would approximate $0.77. The reaffirmed full-year 2026 outlook projects 5-7% sales growth to $1.675-$1.710 billion, adjusted EPS $2.90-$3.20 (7-19% increase), EBITDA 8-9% of sales, and free cash flow $20-$30 million, incorporating SSP's expected $17 million revenue and $0.53 EPS loss; a transaction could provide upside. A webcast is scheduled for May 7, 2026.