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.
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.
Ampco-Pittsburgh Corporation (NYSE: AP) will hold a conference call on August 11, 2022, at 10:30 a.m. ET, to discuss its financial results for the second quarter ended June 30, 2022. Participants can register via the provided link or by calling 1-844-308-3408. Pre-registration is encouraged to receive a passcode for immediate access. A replay of the call will be available on the company's website after the event. Ampco-Pittsburgh specializes in high-performance specialty metal products for various industries globally.
Ampco-Pittsburgh Corporation (NYSE: AP) announced the results of its Offer to Exercise Series A Warrants, ending on July 15, 2022. A total of 108,375 warrants were tendered, raising $193,496 in gross proceeds. The exercise price was set at $1.7856 per warrant or $4.00 per whole share. Warrants not exercised remain at $5.75 per share and $2.5668 per warrant. The Offer was part of a previously filed Tender Offer Statement with the SEC, providing details for interested parties. The Corporation specializes in high-performance specialty metal products.
Ampco-Pittsburgh Corporation (NYSE: AP) announced the preliminary results of its Offer to Exercise, which saw approximately 73,001 Series A Warrants tendered, equating to about 0.66% of the total outstanding warrants. The Offer expired on July 15, 2022, raising gross proceeds of $130,336. The number of warrants tendered is still subject to verification. The unexercised Series A Warrants remain at previous exercise prices of $5.75 per share and $2.5668 per warrant. This press release serves as an informational update and not an offer to buy or sell securities.
Ampco-Pittsburgh Corporation (NYSE: AP) has extended its Offer to Exercise for Series A Warrants to July 15, 2022. The exercise price remains at $1.7856 per warrant, equivalent to $4.00 per whole share of common stock. As of the previous deadline on June 28, 2022, 72,201 Series A Warrants had been tendered. The terms of the offer remain unchanged aside from the expiration date. Investors are encouraged to review the Tender Offer Statement for detailed terms and conditions.
Ampco-Pittsburgh Corporation (NYSE: AP) announced its participation in the virtual East Coast IDEAS Investor Conference, taking place on June 22, 2022. CEO J. Brett McBrayer will present a corporate overview at 6:00 AM ET, accessible via www.IDEASconferences.com. An archive of the webcast will be available afterward on the Corporation's investors' section at ampcopgh.com. Senior VP Michael McAuley will join in one-on-one meetings during the conference.
Ampco-Pittsburgh Corporation (NYSE: AP) has filed a Tender Offer with the SEC to temporarily reduce the exercise price of its Series A Warrants. The reduction allows holders to exercise warrants at $1.7856 each, down from $2.5668, until June 28, 2022. If fully exercised, the Company anticipates raising approximately $19.7 million for working capital and other corporate purposes. This Offer aims to encourage participation by warrant holders while providing significant financial benefits for the Corporation.
Ampco-Pittsburgh Corporation (NYSE: AP) reported a net income of $1.6 million for Q1 2022, up from $0.2 million in Q1 2021. Total net sales reached $94.4 million, a 9% increase year-over-year, driven by price increases and higher forged product shipments, despite a decline in the Air and Liquid Processing segment due to supply chain issues. Backlog growth was 36% compared to the previous year and 12% from the prior quarter. CEO Brett McBrayer acknowledged challenges from energy cost inflation exacerbated by geopolitical tensions but noted improved margins through price adjustments.
Ampco-Pittsburgh Corporation (NYSE: AP) will hold a conference call on May 10, 2022, at 10:30 a.m. ET to discuss its financial results for Q1 ended March 31, 2022. Participants can register via a provided link or by calling 1-844-308-3408 at least five minutes before the call. Pre-registration allows immediate access by obtaining a conference passcode. A replay of the call will be available on the company’s website shortly after the event.
Ampco-Pittsburgh manufactures specialty metal products and operates globally with facilities in the US, England, Sweden, and Slovenia.
Ampco-Pittsburgh Corporation (NYSE: AP) announced a significant $9.6 million order for custom air handling units from its Buffalo Air Handling Division. This marks the largest single order for the division in decades, emphasizing Ampco-Pittsburgh's pivotal role in the healthcare sector. Additionally, the company reported a 33% increase in total order backlog compared to the previous year's first quarter, attributed to heightened demand in air handling units and other engineered products amid rising oil prices. However, growth may pressure working capital due to inflation.
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