Park-Ohio Holdings Corp. provided earnings guidance for the year 2022. Looking ahead to 2022, the company forecasting strong revenue growth of approximately 15% over 2021 levels, which would be at record levels.

2022 sales will be driven by strong customer demand in each segment. The revenue growth is expected in most end markets in Supply Technologies, increased volumes from several new products previously launched in assembly components and from the strength of the company's backlogs in the company's capital equipment and Forged and Machine products businesses. Although the company expects significant improvement in profitability in 2022, resulting in positive net income for the year, the company will not provide further guidance at this time due to the supply chain headwinds, inflationary pressures and labor challenges, which the company expects to continue during the year.