Welcome to our dedicated page for Ampco-Pittsburg news (Ticker: AP), a resource for investors and traders seeking the latest updates and insights on Ampco-Pittsburg stock.
Ampco-Pittsburgh Corporation (NYSE: AP) news covers a specialty manufacturing company that produces engineered metal products and air and liquid processing equipment for industrial customers worldwide. Through its operating subsidiary Union Electric Steel Corporation, the company is a producer of forged and cast rolls for the global steel and aluminum industries and open-die forged products sold to the steel distribution market, oil and gas industry, and aluminum and plastic extrusion industries. It also manufactures custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps, linking AP news closely to developments in specialty metals and pump and pumping equipment manufacturing.
The AP news feed typically features quarterly earnings releases and financial summaries, where Ampco-Pittsburgh reports segment performance, shipment trends, and the impact of factors such as tariffs, manufacturing costs, and restructuring activities. These updates often include discussions of non-GAAP measures like adjusted EBITDA and adjusted income from operations, providing additional context on underlying operating performance beyond GAAP results.
Investors following AP news will also see announcements about operational changes, such as the accelerated exit from the company’s U.K. cast roll operations through administration of its U.K. subsidiary, and related expectations for improvements in adjusted EBITDA and operating income. Other recurring news items include credit facility agreements and amendments, which describe the structure of Ampco-Pittsburgh’s revolving credit and term loan arrangements, and warrant-related notices, such as the expiration and delisting of its Series A warrants.
In addition, Ampco-Pittsburgh regularly announces participation in investor conferences and virtual presentations, along with leadership and CFO transition updates disclosed through both press releases and Form 8-K filings. For investors and analysts tracking AP, this news page offers a centralized view of earnings announcements, capital structure developments, restructuring milestones, and corporate governance updates. Bookmark this page to quickly access the latest AP headlines, official statements, and context around the company’s specialty metal and pumping-related operations.
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Ampco-Pittsburgh Corporation (NYSE: AP) reported a full-year EPS of $0.18 and Q4 2022 sales of $93.5 million, up 11% compared to Q4 2021.
For the full year, sales increased 13% to $390.2 million, driven by improved pricing and demand for mill rolls and custom air handlers.
Net income for 2022 was $3.4 million, contrasting with a net loss of $3.9 million in 2021. The backlog rose 26% year-over-year, with significant gains in Air & Liquid Processing.
Changes in inventory valuation to FIFO method benefited financial comparability, with a cumulative adjustment reducing retained deficit by $11.5 million.
Ampco-Pittsburgh Corporation (NYSE: AP) will hold a conference call on March 21, 2023, at 10:30 a.m. ET, to discuss its fourth-quarter financial results for the period ending December 31, 2022. Participants can register via a link or call 1-844-308-3408 at least five minutes prior to the start time. A replay of the call will be available on the company's website shortly after the conclusion of the event. Ampco-Pittsburgh manufactures high-performance specialty metal products through its subsidiary, Union Electric Steel Corporation, and operates internationally with facilities in the U.S., England, Sweden, and Slovenia.