Welcome to our dedicated page for Ampco-Pittsburgh news (Ticker: AP), a resource for investors and traders seeking the latest updates and insights on Ampco-Pittsburgh stock.
Ampco-Pittsburgh Corporation manufactures engineered specialty metal products and customized industrial equipment through Forged and Cast Engineered Products and Air and Liquid Processing operations. Its Union Electric Steel subsidiary produces forged and cast rolls for steel and aluminum producers, along with open-die forged products for steel distribution, oil and gas, aluminum extrusion, and plastic extrusion customers.
Recurring news for AP covers quarterly results, customer order trends, segment demand, manufacturing footprint changes, and investor presentations. Updates also address custom-engineered finned tube heat exchange coils, large air handling systems, centrifugal pumps, and the company’s completed exit from U.K. cast roll operations.
Ampco-Pittsburgh Corporation (NYSE: AP) reported net income of $2.2 million, or $0.12 per share, for Q4 2020, down from $3.1 million or $0.24 per share in the same quarter of 2019. For the full year, net income was $8.0 million, or $0.56 per share, compared to a net loss of $(21.0) million in 2019. Sales from continuing operations decreased by 10% in Q4 and 17% for the year, totaling $87.0 million and $328.5 million, respectively. CEO Brett McBrayer expressed cautious optimism for future order activity as the company adapts to pandemic challenges.
Ampco-Pittsburgh Corporation (NYSE: AP) will hold a conference call on March 18, 2021, at 10:30 a.m. ET to discuss its financial results for the fourth quarter and fiscal year ending December 31, 2020. The earnings press release is expected on March 17, 2021. Interested participants can register here or dial 1-844-308-3408. For those unable to join live, a replay will be available on the company's website after the call.
Ampco-Pittsburgh Corporation (NYSE: AP) reported a net income of $1.0 million ($0.07 per diluted share) for Q3 2020, a significant recovery from a net loss of $(5.1) million in Q3 2019. For the nine months ending September 30, 2020, net income was $5.8 million ($0.43 per diluted share), up from a loss of $(24.1) million in the prior year. Sales declined to $75.7 million for Q3, down from $90.9 million, primarily due to pandemic-related shipment delays. The company's debt was reduced by 54% to $32.6 million, and improved operating results were reported in the Forged and Cast Engineered Products segment.
Ampco-Pittsburgh Corporation (NYSE: AP) will hold a conference call on November 17, 2020, at 10:30 a.m. ET to discuss its third-quarter financial results for the period ending September 30, 2020. The earnings press release will be issued on November 16, 2020. Participants can register for the conference call via a provided link or by calling 1-844-308-3408. A replay will be available on their website after the event. Ampco-Pittsburgh specializes in high-performance specialty metal products for various industries, with production facilities worldwide.
Ampco-Pittsburgh Corporation (NYSE: AP) announced its upcoming presentation at the Sidoti Virtual Microcap Conference on November 19, 2020. CEO J. Brett McBrayer will deliver a corporate overview at 10:00 AM ET, followed by a live Q&A session. Investors can access the live webcast through the provided link or from the Corporation's website. Additionally, McBrayer and CFO Michael McAuley will engage in virtual one-on-one meetings with investors. The company manufactures specialty metal products utilized globally across various industries, including steel and aluminum.
Ampco-Pittsburgh Corporation (NYSE: AP) announced the successful completion of its equity rights offering, raising $19.3 million in gross proceeds. The funds will strengthen its balance sheet, reduce debt, and support capital expenditures for improved long-term profitability. Shareholders received common stock and Series A warrants, allowing them to purchase additional shares at an exercise price of $2.5668 per warrant, equating to $5.75 per whole common share. The company expresses gratitude for shareholder support and has provided an FAQ for warrant exercise on its website.