Ampco-Pittsburg Corp Stock Price, News & Analysis

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.

Ampco-Pittsburgh Corporation (NYSE: AP) announced a 10-15% price increase on all forged and cast roll products globally through its subsidiary, Union Electric Steel Corporation. This adjustment is effective immediately for new orders and quotations, aiming to counterbalance escalating costs driven by inflation. Skip Reinert, Vice President of Sales and Marketing, cited a dramatic rise in costs across the metals industry, prompting this necessary price rise to ensure product quality and supply reliability.

Ampco-Pittsburgh Corporation (NYSE: AP) reported Q3 2022 net sales of $99.6 million, showing an increase from $81.2 million in Q3 2021, driven by higher selling prices and increased shipments. The company achieved net income of $0.8 million or $0.04 per diluted share, compared to a loss of $1.6 million in the prior year. The Air and Liquid Processing segment hit a record backlog, while operational results improved despite challenges in Europe and inflationary pressures. The company also enhanced liquidity through financing agreements.

Ampco-Pittsburgh Corporation (NYSE: AP) has scheduled a conference call on November 15, 2022, at 10:30 a.m. ET to discuss its third quarter financial results for the period ending September 30, 2022. Participants can register through a provided link or dial in via toll-free numbers. A replay will be available on the company’s website following the call. Ampco-Pittsburgh manufactures specialty metal products and operates globally with facilities in the US, UK, Sweden, Slovenia, and China.

Ampco-Pittsburgh Corporation (NYSE: AP) announced that CEO J. Brett McBrayer will present at the Midwest IDEAS Investor Conference on August 24, 2022, in Chicago, IL, starting at 9:30 am CT. The presentation will be webcasted and can be accessed via the conference's website. McBrayer will also engage in one-on-one meetings during the event. For further details and archive materials, visit Ampco-Pittsburgh's Investors webpage. The IDEAS conferences aim to connect quality companies with influential investors, supported by entities managing over $200 billion in assets.

Ampco-Pittsburgh Corporation (NYSE: AP) reported Q2 2022 earnings with net sales of $102.6 million, a rise from $92.4 million in Q2 2021. Year-to-date sales reached $197.0 million compared to $179.2 million last year. Both net income and EPS increased to $0.02 for Q2 and $0.11 YTD. However, operating income saw a drop due to rising costs outpacing pricing surcharges. The company’s backlog grew by 19% YTD, with strength noted in the Air & Liquid Processing segment, despite ongoing supply chain challenges.