Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells specialty metal products and customized equipment to commercial and industrial users worldwide. It operates in two segments, Forged and Cast Engineered Products; and Air and Liquid Processing. The Forged and Cast Engineered Products segment produces forged hardened steel rolls that are used in cold rolling mills by producers of steel, aluminum, and other metals; cast rolls for hot and cold strip, medium/heavy section, hot strip finishing, roughing, and plate mills in various iron and steel qualities; and forged engineered products for use in the steel distribution, oil and gas, and aluminum and plastic extrusion industries. This segment also offers forged rolls for cluster and Z-Hi mills; work rolls for narrow and wide strip and aluminum mills; back-up rolls for narrow strip mills; leveling rolls and shafts; and distributes tool steels, alloys, and carbon round bars. The Air and Liquid Processing segment produces custom-engineered finned tube heat exchange coils and related heat transfer products for various industries, including OEM/commercial, nuclear power generation, and industrial manufacturing; and custom-designed air handling systems for institutional, pharmaceutical, and general industrial building markets. This segment also provides centrifugal pumps the fossil-fueled power generation, marine defense, and industrial refrigeration industries. The company was incorporated in 1929 and is headquartered in Carnegie, Pennsylvania.
IPO Year:
Exchange: NYSE
Website: ampcopgh.com
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Operating income of $1.9 million in Q3 2024 and $7.0 million year-to-date. Improved margins in Forged and Cast Engineered Products lead operating results higher than prior year. Strong U.S. forged business results including impact of new equipment more than offsets cyclically weak cast roll demand. Higher sequential backlog in Q3 2024 vs Q2 2024 led by higher roll order intake. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $96.2 million and $317.4 million for the three and nine months ended September 30, 2024, respectively, compared to $102.2 million and $314.2 million for the three and nine months ended September 30, 2023, respectively. The net sales decline for
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, November 12, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the third quarter ended September 30, 2024. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after
Ampco-Pittsburgh Corporation (NYSE:AP) ("Ampco-Pittsburgh") today announced that the Buffalo Air Handling Division ("Buffalo Air Handling") of Air and Liquid Systems Corporation ("Air and Liquid Systems"), a wholly owned subsidiary of Ampco-Pittsburgh, has received an $8.7 million order for a custom air handling project for a major pharmaceutical company. The order is expected to ship in 2025. David Anderson, President of Air and Liquid Systems commented, "The pharmaceutical market is one of the key markets for our custom air handling product line. While we have seen strong order demand from this market over the last year, this is the largest order we have ever received from the pharmaceut
Strong sequential earnings improvement delivered at top end of previous guidance range. Q2 2024 operating income up 53% over prior-year period led by Forged and Cast Engineered Products segment improvement. Air and Liquid Processing segment sales up 19% for both Q2 and YTD compared to prior-year periods. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $111.0 million and $221.2 million for the three and six months ended June 30, 2024, respectively, compared to $107.2 million and $212.0 million for the three and six months ended June 30, 2023, respectively. The increase is attributable to sales growth in the Air and Liquid Processing segment. The Corporation reported
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, August 13, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the second quarter ended June 30, 2024. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the
Expects strong sequential earnings improvement in Q2 2024 compared to Q1 2024 Ampco-Pittsburgh Corporation (NYSE:AP) (the "Corporation") announced today preliminary estimates of net sales, income from operations and net income for the fiscal quarter ended June 30, 2024, and an update on its current liquidity position: Net sales for the quarter ended June 30, 2024, is expected to be in the range of $107 million to $112 million. This compares to net sales of $107.2 million in the quarter ended June 30, 2023, and $110.0 million in the quarter ended March 31, 2024. Income from operations for the quarter ended June 30, 2024, is expected to be in the range of $3.8 million to $4.8 milli
Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $110.2 million for the three months ended March 31, 2024, compared to $104.8 million for the three months ended March 31, 2023. The increase is attributable to sales growth in the Air and Liquid Processing segment. The Corporation reported income from operations of $0.1 million for the three months ended March 31, 2024, which declined compared to income from operations of $2.0 million for the three months ended March 31, 2023. A major driver of the change was higher repair expense and the impact of plant downtime caused by fire damage at a foreign cast roll facility. In addition, the Air and Liquid Processing segment was impacte
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, May 14, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the first quarter ended March 31, 2024. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the cal
Q4 2023 sales up 16% over Q4 2022; full year 2023 sales up 8% over full year 2022. Air and Liquid Processing segment sales increased 35% for Q4 2023 and 31% for 2023 YTD compared to prior year periods. 2023 full year loss from operations of $34.6 million includes a $40.9 million non-cash, undiscounted asbestos-related revaluation charge recorded in Q4 2023. 2023 full year non-GAAP adjusted income from operations improved $4.5 million vs 2022. Conclusion of U.S. forged business equipment modernization program in Q1 2024. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $108.1 million and $422.3 million for the three and twelve months ended December 31, 2023, compa
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, March 26, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the fourth quarter ended December 31, 2023. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after t
Operating income of $1.9 million in Q3 2024 and $7.0 million year-to-date. Improved margins in Forged and Cast Engineered Products lead operating results higher than prior year. Strong U.S. forged business results including impact of new equipment more than offsets cyclically weak cast roll demand. Higher sequential backlog in Q3 2024 vs Q2 2024 led by higher roll order intake. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $96.2 million and $317.4 million for the three and nine months ended September 30, 2024, respectively, compared to $102.2 million and $314.2 million for the three and nine months ended September 30, 2023, respectively. The net sales decline for
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, November 12, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the third quarter ended September 30, 2024. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after
Strong sequential earnings improvement delivered at top end of previous guidance range. Q2 2024 operating income up 53% over prior-year period led by Forged and Cast Engineered Products segment improvement. Air and Liquid Processing segment sales up 19% for both Q2 and YTD compared to prior-year periods. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $111.0 million and $221.2 million for the three and six months ended June 30, 2024, respectively, compared to $107.2 million and $212.0 million for the three and six months ended June 30, 2023, respectively. The increase is attributable to sales growth in the Air and Liquid Processing segment. The Corporation reported
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, August 13, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the second quarter ended June 30, 2024. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the
Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $110.2 million for the three months ended March 31, 2024, compared to $104.8 million for the three months ended March 31, 2023. The increase is attributable to sales growth in the Air and Liquid Processing segment. The Corporation reported income from operations of $0.1 million for the three months ended March 31, 2024, which declined compared to income from operations of $2.0 million for the three months ended March 31, 2023. A major driver of the change was higher repair expense and the impact of plant downtime caused by fire damage at a foreign cast roll facility. In addition, the Air and Liquid Processing segment was impacte
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, May 14, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the first quarter ended March 31, 2024. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the cal
Q4 2023 sales up 16% over Q4 2022; full year 2023 sales up 8% over full year 2022. Air and Liquid Processing segment sales increased 35% for Q4 2023 and 31% for 2023 YTD compared to prior year periods. 2023 full year loss from operations of $34.6 million includes a $40.9 million non-cash, undiscounted asbestos-related revaluation charge recorded in Q4 2023. 2023 full year non-GAAP adjusted income from operations improved $4.5 million vs 2022. Conclusion of U.S. forged business equipment modernization program in Q1 2024. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $108.1 million and $422.3 million for the three and twelve months ended December 31, 2023, compa
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, March 26, 2024, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the fourth quarter ended December 31, 2023. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after t
EPS of $0.04 for Q3 2023 and $0.10 for 2023 YTD. Operating income of $1.7 million for Q3 2023 and $7.0 million 2023 YTD, up significantly from prior year. Air and Liquid Processing segment sales increased 18% for Q3 2023 and 29% 2023 YTD compared to prior year periods with record sales 2023 YTD and another record backlog at Q3 2023. U.S. forged business equipment modernization project on track for completion in Q4 2023. Ampco-Pittsburgh Corporation (NYSE:AP) reported net sales of $102.2 million and $314.2 million, respectively, for the three and nine months ended September 30, 2023, compared to $99.6 million and $296.7 million for the three and nine months ended September 30, 2
Ampco-Pittsburgh Corporation (NYSE:AP) will hold a conference call on Tuesday, November 14, 2023, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the third quarter ended September 30, 2023. If you would like to participate in the conference call, please register using the link below or by dialing 1-844-308-3408 at least five minutes before the 10:30 a.m. ET start time. We encourage participants to pre-register for the conference call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and afte
Enters into Cooperation Agreement with Ancora Ampco-Pittsburgh Corporation (NYSE:AP) ("Ampco-Pittsburgh" or the "Corporation") today announced that it has appointed three independent directors to its Board of Directors (the "Board"), two of whom were appointed in connection with an agreement with Ancora Holdings Group, LLC (together with its affiliates, "Ancora"), a shareholder which currently owns approximately 5.6% of the Corporation's outstanding shares. Frederick D. DiSanto and Darrell L. McNair will join the Board as members of the class of directors to be elected at the 2023 Annual Meeting of the Corporation's shareholders, effective immediately pursuant to a Cooperation Agreement en
Ampco-Pittsburgh Corporation (NYSE:AP) (the "Corporation" or "Ampco-Pittsburgh") today announced the appointment of David G. Anderson as President of Air & Liquid Systems Corporation ("Air & Liquid Systems"), a wholly-owned subsidiary of Ampco-Pittsburgh, effective January 1, 2022. Mr. Anderson succeeds Terrence W. Kenny, who has served as Air & Liquid Systems' President since 2010 and has announced his retirement. Brett McBrayer, Chief Executive Officer of the Corporation, stated, "Terry's retirement will cap more than three decades of achievement and growth. He and his valued leadership will be greatly missed. On behalf of the Board and the Corporation, I would like to thank Terry for hi
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As of July 9, 2024, the Corporation's liquidity position improved modestly compared to March 31, 2024, and included cash on hand of approximately $8.6 million and availability on its revolving credit facility of $27.2 million. Net income for the quarter ended June 30, 2024, is expected in the range of $1.1 to $2.1 million, or $0.05 to $0.10 per diluted share. This compares to a net income of $0.4 million, or $0.02 per diluted share for the quarter ended June 30, 2023 (which included a benefit of $1.9 million, or $0.10 per diluted share, for the foreign energy credit), and a net loss of $(2.7) million, or $(0.14) per diluted share for the quarter ended March 31, 2024.
Remarking on this outlook, Brett McBrayer, Ampco-Pittsburgh's Chief Executive Officer, said, "As we expected, Q2 2024 earnings should improve sequentially versus Q1 2024 with the impact of the Q1 foundry fire in our Sweden plant largely behind us, along with sequential improvement in Air & Liquid Processing segment margins." "We experienced a full-quarter benefit of the new machinery in our U.S. forged operation in Q2. Although we are still experiencing excess capacity in our European cast roll business relative to demand, this is consistent with our experience the last few quarters."
Shares of SeaStar Medical Holding Corporation (NASDAQ:ICU) fell sharply during Wednesday's session after the company entered into a $10 million registered direct offering of 947,868 shares at $10.55 per share. SeaStar Medical shares dipped 34% to $8.55 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers Virpax Pharmaceuticals, Inc. (NASDAQ:VRPX) shares jumped 139% to $2.78 after the company announced results for a Swine Model pilot study for Probudur. Kazia Therapeutics Limited (NASDAQ:KZIA) gained 129% to $0.4325 after the company announced results from GBM-AGILE, a phase II/III study that included an evaluation of paxalisib versus standard of
Shares of Ampco-Pittsburgh Corporation (NYSE:AP) soared nearly 70% during Wednesday’s pre-market after its subsidiary, Union Electric Steel Corporation, secured contracts estimated at $11.7 million. What Happened: At the time of writing, Ampco-Pittsburgh was trading at $1.290 after it closed at $0.7649, according to Benzinga Pro. As per their press release Wednesday, Union Electric Steel Corporation will provide rolls for two new rolling mill projects in Mexico and Scandinavia, with deliveries expected in the first half of 2025. The contracts include a $6.7 million agreement with Ternium Mexico S.A. de C.V., a leading North American steel producer, and a $5 million deal with a major
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Top Stories for May 14, 2024 Atlas Lithium Atlas Lithium‘s (NASDAQ:ATLX) advanced lithium processing plant, using dense media separation (DMS) technology, is in the final fabrication stage. The modular design simplifies transportation, installation and commissioning. It’s also said to be environmentally conscious due to the plant’s compact, preassembled modules that allow for a smaller footprint and greater efficiency. It will soon be shipped to the Neves project site in Brazil’s Lithium Valley, a region with significant lithium deposits. Brazil holds the fifth-largest lithium reserves globally and Atlas is poised to produce high-grade lithium concentrate at a competiti