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Park Ohio Holdings Corp (PKOH) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Park Ohio Holdings Corp

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CIK: 76282 Ticker: PKOH


EXHIBIT 99.1
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ParkOhio Announces Record 2018 Sales and EPS and Provides 2019 EPS Guidance
Full Year:
•
Record Sales of $1.7 billion in 2018, up 17% year-over-year
•
Record GAAP EPS of $4.28 in 2018, up 86% compared to $2.30 in 2017
•
Record Adjusted EPS of $4.28 in 2018, up 33% compared to $3.23 in 2017

Fourth Quarter:
•
Q4 2018 Sales were $406 million, up 11% year-over-year
•
GAAP EPS of $1.19 in Q4 2018, compared to $0.46 in 2017
•
Record Adjusted EPS of $1.20 in Q4 2018, up 40% compared to $0.86 in 2017

2019 Guidance:
•
2019 GAAP EPS guidance of $4.20 to $4.50
•
2019 Adjusted EPS guidance of $4.30 to $4.60

CLEVELAND, OHIO, March 4, 2019 — ParkOhio (NASDAQ: PKOH) today announced results for its fourth quarter and full year ended December 31, 2018.
FOURTH QUARTER 2018 RESULTS

In the fourth quarter of 2018, net sales were $405.9 million, an increase of 11% from net sales of $366.0 million in 2017, driven by organic growth of 3% and acquisition-related growth of 8%. Net income attributable to ParkOhio common shareholders in the fourth quarter of 2018 was $14.8 million, or $1.19 per diluted share, compared to net income attributable to ParkOhio common shareholders in the fourth quarter of 2017 of $5.8 million, or $0.46 per diluted share. On an adjusted basis, net income attributable to ParkOhio common shareholders was $1.20 per diluted share in the fourth quarter of 2018, up 40% compared to $0.86 per diluted share in the 2017 period. Please refer to the table that follows for a reconciliation of net income to adjusted earnings.

Matthew V. Crawford, Chairman and Chief Executive Officer, stated, “While we are proud of our record-setting results in 2018, we are even more excited to begin to see the strategic investments we have made in people, technology and manufacturing capacity over the past two years begin to contribute to our success. We expect 2019 to be a year of moderate sales growth as we emphasize improving our operating margins and increasing our cash flows.”

In the fourth quarter of 2018, GAAP EPS and Adjusted EPS were favorably impacted by an effective income tax rate of 12.6%. This rate includes adjustments made in the fourth quarter to reflect the 2018 impact of the Tax Cuts and Jobs Act (“TCJA”),

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The following information was filed by Park Ohio Holdings Corp (PKOH) on Monday, March 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Park Ohio Holdings Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts And Reserves
Schedule Ii - Valuation And Qualifying Accounts And Reserves (Details)
Summary Of Significant Accounting Policies (Property, Plant And Equipment) (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Shareholders' Equity
Consolidated Statement Of Shareholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Components Of Accumulated Comprehensive Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Acquisitions
Acquisitions (Narrative) (Details)
Acquisitions (Purchase Price) (Details)
Acquisitions (Tables)
Commitments, Contingencies And Litigation Settlement
Commitments, Contingencies And Litigation Settlement (Details)
Financing Arrangements
Financing Arrangements (Fair Value Of Debt) (Details)
Financing Arrangements (Narrative) (Details)
Financing Arrangements (Schedule Of Long-Term Debt) (Details)
Financing Arrangements (Schedule Of Maturities Of Long-Term Debt) (Details)
Financing Arrangements (Tables)
Goodwill
Goodwill (Change In Goodwill) (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Income From Continuing Operations Before Income Taxes) (Details)
Income Taxes (Income Taxes) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Between Federal Statutory Tax Rate And Effective Tax Rates) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Significant Components Of The Company's Net Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Tables)
Lease Arrangements
Lease Arrangements (Additional Information) (Details)
Lease Arrangements (Schedule Of Capital Leased Assets) (Details)
Lease Arrangements (Schedule Of Future Minimum Lease Commitments) (Details)
Lease Arrangements (Tables)
Other Intangible Assets
Other Intangible Assets (Amortization Expense) (Details)
Other Intangible Assets (Narrative) (Details)
Other Intangible Assets (Schedule Of Amortization Expense For Subsequent Years) (Details)
Other Intangible Assets (Schedule Of Other Intangible Assets) (Details)
Other Intangible Assets (Tables)
Pensions And Postretirement Benefits
Pensions And Postretirement Benefits (Narrative) (Details)
Pensions And Postretirement Benefits (Summary Company's Expected Future Benefit Payments) (Details)
Pensions And Postretirement Benefits (Summary Of Assumptions Used In The Valuation Of Pension And Postretirement Benefit Obligations) (Details)
Pensions And Postretirement Benefits (Summary Of Change In Defined Benefit And Postretirement Benefit Plans) (Details)
Pensions And Postretirement Benefits (Summary Of Components Of Net Periodic Benefit Cost) (Details)
Pensions And Postretirement Benefits (Summary Of One-Percentage-Point Change In Assumed Healthcare Cost Trend Rate) (Details)
Pensions And Postretirement Benefits (Summary Of Pension Plan Asset Allocation By Level) (Details)
Pensions And Postretirement Benefits (Summary Of Pension Plan Weighted-Average Asset Allocation) (Details)
Pensions And Postretirement Benefits (Tables)
Related Party Transaction
Related Party Transaction (Details)
Revenue
Revenue (Narrative) (Details)
Revenue (Summary Of Disaggregation Of Revenue By Geographical Area) (Details)
Revenue (Summary Of Disaggregation Of Revenue By Product Line) (Details)
Revenue (Tables)
Segments
Segments (Company???S Approximate Percentage Of Net Sales By Geographic Region) (Details)
Segments (Narrative) (Details)
Segments (Percentage Of Net Sales By Product Line) (Details)
Segments (Schedule Of Segment Information) (Details)
Segments (Tables)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Share-Based Compensation
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Summary Of Restricted Share Activity) (Details)
Share-Based Compensation (Tables)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Changes In Product Warranty Liability) (Details)
Summary Of Significant Accounting Policies (Depreciation Expense) (Details)
Summary Of Significant Accounting Policies (Major Classes Of Inventories) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Pension Income And Other Postretirement Benefits Expense (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies (Weighted-Average Number Of Shares Used In Computing Earnings Per Share (Details)
Ticker: PKOH
CIK: 76282
Form Type: 10-K Annual Report
Accession Number: 0000076282-19-000021
Submitted to the SEC: Tue Mar 05 2019 11:06:18 AM EST
Accepted by the SEC: Tue Mar 05 2019
Period: Monday, December 31, 2018
Industry: Metal Forgings And Stampings

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