“For 2023, we continue to expect revenues from continuing operations to increase 10-15% year-over-year and expect year-over-year improvement in adjusted operating income; EBITDA, as defined; free cash flow and adjusted EPS in 2023. Our fourth quarter revenues will be negatively impacted by the United Auto Workers strike, which has affected several OEM customer plants. Although there appears to be tentative agreements between the OEMs and the UAW, it is difficult to estimate the full impact of the strike on our fourth quarter revenues as production ramps back up to normal levels. Our monthly revenue levels from the OEM plants impacted by the strike total approximately $25 to $30 million across our Assembly Components and Supply Technologies segments.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PKOH:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue