Park Ohio Industries

Park-Ohio Industries Inc. (“Park-Ohio” or “Industries” or “ParkOhio”), a wholly-owned subsidiary of Park-Ohio Holdings Corp. (“Holdings”), was incorporated as an Ohio corporation in 1984. Holdings, primarily through its subsidiaries owned by its direct subsidiary, Industries, is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products.

Company profile

Fiscal year end


12 Aug 21
20 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 44.6M 44.6M 44.6M 44.6M 44.6M 44.6M
Cash burn (monthly) 1.23M (positive/no burn) 2.73M (positive/no burn) 11.63M (positive/no burn)
Cash used (since last report) 4.57M n/a 10.12M n/a 43.08M n/a
Cash remaining 40.03M n/a 34.48M n/a 1.52M n/a
Runway (months of cash) 32.5 n/a 12.6 n/a 0.1 n/a

Beta Read what these cash burn values mean

Financial report summary

  • Our business, results of operations and cash flows have been and are expected to continue to be adversely affected by COVID-19.
  • The industries in which we operate are cyclical and are affected by the economy in general.
  • Adverse credit market conditions may significantly affect our access to capital, cost of capital and ability to meet liquidity needs.
  • Adverse global economic conditions may have significant effects on our customers and suppliers that could result in material adverse effects on our business and operating results.
  • Because a significant portion of our sales is to the automotive and heavy-duty truck industries, a decrease in the demand of these industries or the loss of any of our major customers in these industries could adversely affect our financial health.
  • Our Supply Technologies customers are generally not contractually obligated to purchase products and services from us.
  • We are dependent on key customers.
  • We operate in highly competitive industries.
  • Our Supply Technologies business depends upon third parties for substantially all of our component parts.
  • The raw materials used in our production processes and by our suppliers of component parts are subject to price and supply fluctuations that could increase our costs of production and adversely affect our results of operations.
  • The energy costs involved in our production processes and transportation are subject to fluctuations that are beyond our control and could significantly increase our costs of production.
  • Operating problems in our business may materially adversely affect our financial condition and results of operations.
  • We have a significant amount of goodwill, and any future goodwill impairment charges could adversely impact our results of operations.
  • Our business and operating results may be adversely affected by natural disasters, other catastrophic events or public health issues, all of which are beyond our control.
  • The insurance that we maintain may not fully cover all potential expenses.
  • Some of our employees belong to labor unions, and strikes or work stoppages could adversely affect our operations.
  • The loss of key executives could adversely impact us.
  • Potential product liability risks exist from the products that we sell.
  • We operate and source internationally, which exposes us to the risks of doing business abroad.
  • We are subject to significant environmental, health and safety laws and regulations and related compliance expenditures and liabilities.
  • Adverse global economic conditions may have significant effects on our customers that would result in our inability to borrow or to meet our debt service coverage ratio in our revolving credit facility.
  • Uncertainty relating to the calculation of London Interbank Offered Rate (“LIBOR”) and other reference rates and their potential discontinuance may adversely affect interest expense related to our outstanding debt, including amounts borrowed under our revolving credit facility.
  • We may encounter difficulty in expanding our business through targeted acquisitions.
  • Our Chairman of the Board, Chief Executive Officer and President and former President collectively beneficially own a significant portion of Holdings’ outstanding common stock and their interests may conflict with yours.
Management Discussion
  • This section of this Annual Report on Form 10-K generally discusses 2020 and 2019 items and year-to-year comparisons between 2019 and 2018. Discussions of 2018 items and year-over-year comparisons between 2019 and 2018 that are not included in this Annual Report on Form 10-K can be found in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of the Company's Annual Report on Form 10-K for the year ended December 31, 2019.
  • Net sales decreased 20% to $1,295.2 million in 2020 compared to $1,618.3 million in 2019. The decrease in net sales was due to lower customer demand for our products in many end markets across all three of our segments, primarily driven by the COVID-19 pandemic. See the “Segment Results” section below for a more detailed discussion of the decrease in sales in each business segment.
  • Cost of sales decreased 17% to $1,126.6 million in 2020 compared to $1,358.0 million in 2019. The decrease in cost of sales was in-line with the decrease in net sales described above.
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