Ampco-Pittsburg Corp Stock Price, News & Analysis

Ampco-Pittsburgh Corporation (NYSE: AP) has scheduled its first quarter 2025 earnings conference call for Tuesday, May 13, 2025, at 10:30 a.m. Eastern Time. The call will discuss financial results for Q1 ended March 31, 2025. Participants can pre-register through a provided link or dial in directly using toll-free (1-844-308-3408) or international (1-412-317-5408) numbers.

Ampco-Pittsburgh is a manufacturer of specialty metal products and customized equipment, primarily producing forged and cast rolls for global steel and aluminum industries through its subsidiary Union Electric Steel Corporation. The company operates facilities in the US, England, Sweden, and Slovenia, with joint ventures in China and sales offices across North America, Asia, Europe, and the Middle East.

Ampco-Pittsburgh (NYSE: AP) reported mixed financial results for Q4 and full year 2024. The company achieved earnings per share of $0.16 in Q4 and $0.02 for the full year, with operating cash flows of $7.5M in Q4 and $18.0M for 2024.

Key highlights include:

• Net sales of $100.9M in Q4 (down from $108.1M in Q4 2023) and $418.3M for 2024 (down from $422.3M in 2023)
• Record sales in Air and Liquid Processing segment, up 6.5% in Q4 and 11% for the full year
• Non-GAAP adjusted income from operations of $8.0M for 2024, improving $3.7M vs 2023
• $4.1M non-cash asbestos-related revaluation benefit in Q4 2024

The company is exploring options to address losses in underutilized cast roll operations, particularly in the UK facility where operating losses exceed $5M annually due to depressed market conditions and high energy costs.

Ampco-Pittsburgh (NYSE: AP) has announced an immediate base price increase of 6-8% on all forged and cast products produced globally by its subsidiary Union Electric Steel and its subsidiaries. The price adjustment is necessitated by inflationary cost increases in labor, healthcare, mill supplies, and elements not covered by existing surcharges.

The company will maintain its current material and energy surcharges alongside the new base price increase. Union Electric Steel's Vice President of Sales & Marketing, Skip Reinert, emphasized that this adjustment is essential to maintain reliable supply and superior product quality for customers.

Ampco-Pittsburgh manufactures specialized metal products and customized equipment through facilities in the United States, England, Sweden, and Slovenia, with three joint ventures in China and sales offices across North America, Asia, Europe, and the Middle East.

Ampco-Pittsburgh (NYSE: AP) has announced its upcoming fourth quarter 2024 financial results conference call, scheduled for March 13, 2025, at 10:30 a.m. Eastern Time. Participants can pre-register through a provided link or dial in directly using toll-free and international numbers.

The company, headquartered in Carnegie, Pennsylvania, is a manufacturer of specialized metal products and customized equipment. Through its subsidiary Union Electric Steel , it produces forged and cast rolls for global steel and aluminum industries, along with open-die forged products. The also manufactures air and liquid processing equipment, with operations across the United States, England, Sweden, Slovenia, and joint ventures in China.

Ampco-Pittsburgh (NYSE: AP) announced its Q3 2024 results. Net sales for the quarter were $96.2 million, down from $102.2 million in Q3 2023. Year-to-date net sales rose to $317.4 million from $314.2 million in 2023. Operating income was $1.9 million for Q3 2024, slightly up from $1.7 million in Q3 2023, driven by improved margins in Forged and Cast Engineered Products despite lower shipment volumes. The U.S. forged business saw significant improvements due to new equipment, offsetting weak cast roll demand. The net loss for Q3 2024 was $(2.0) million or $(0.10) per diluted share, compared to net income of $0.8 million or $0.04 per diluted share in Q3 2023. The increase in interest expense and a higher income tax provision contributed to the net loss. CEO Brett McBrayer highlighted the impact of seasonal plant shutdowns and pricing actions in the roll business. The Air and Liquid Processing segment saw year-to-date sales growth but faced challenges from an unfavorable product mix and higher costs.

Ampco-Pittsburgh (NYSE: AP) has scheduled its third quarter 2024 earnings conference call for Tuesday, November 12, 2024, at 10:30 a.m. Eastern Time. The call will discuss financial results for the quarter ended September 30, 2024. Participants can pre-register online or dial in directly. A replay will be available on the company's website under the Investors menu. Ampco-Pittsburgh is a manufacturer of specialty metal products and customized equipment, including forged and cast rolls for steel and aluminum industries, with facilities across the United States, England, Sweden, and Slovenia.

Ampco-Pittsburgh (NYSE: AP) announced that its subsidiary, Buffalo Air Handling Division of Air and Liquid Systems , has secured an $8.7 million order for a custom air handling project from a major pharmaceutical company. This marks the largest order ever received from the pharmaceutical market for Buffalo Air Handling. The order is set to ship in 2025.

David Anderson, President of Air and Liquid Systems, highlighted the pharmaceutical market as a key sector for their custom air handling products. He emphasized the company's recent expansion, including a new manufacturing location in central Virginia opened in summer 2023, to meet increasing demand. Anderson expressed confidence in Buffalo Air Handling's future growth potential, citing its 100-year legacy and recent investments in manufacturing capacity and sales force strengthening.

Ampco-Pittsburgh (NYSE: AP) reported Q2 2024 results with net sales of $111.0 million, up from $107.2 million in Q2 2023. Income from operations rose to $5.0 million, a 53% increase from $3.3 million in the prior-year period. The Air and Liquid Processing segment saw a 19% sales increase for both Q2 and YTD compared to 2023. Net income for Q2 2024 was $2.0 million, or $0.10 per diluted share, compared to $0.4 million, or $0.02 per diluted share, in Q2 2023.

CEO Brett McBrayer noted that Q2 results were at the high end of previous guidance, reflecting strong sequential improvement in both segments. The Forged and Cast Engineered Products segment improved due to higher net roll pricing, while the Air and Liquid Processing segment benefited from increased shipments of air handling systems.

Ampco-Pittsburgh (NYSE: AP) reported strong Q2 2024 results, with net sales of $111.0 million, up from $107.2 million in Q2 2023. The company's operating income increased by 53% to $5.0 million compared to the prior-year period. This improvement was primarily driven by the Forged and Cast Engineered Products segment, benefiting from higher net roll pricing.

The Air and Liquid Processing segment saw a 19% increase in sales for both Q2 and year-to-date compared to 2023. Net income for Q2 2024 was $2.0 million, or $0.10 per diluted share, up from $0.4 million, or $0.02 per diluted share, in Q2 2023. The company's CEO, Brett McBrayer, noted that Q2 results were at the high end of their previous guidance range, reflecting strong sequential improvement in both segments.