Business
Ampco-Pittsburgh Corporation (NYSE: AP) Announces Fourth Quarter and Full Year 2024 Results
CARNEGIE, Pa., March 12, 2025--Ampco-Pittsburgh Corporation (NYSE: AP) reported net sales of $100.9 million and $418.3 million for the three and twelve months ended December 31, 2024, respectively, compared to $108.1 million and $422.3 million for the three and twelve months ended December 31, 2023, respectively. The decrease for the three months ended December 31, 2024, compared to the prior year quarter is primarily attributable to lower mill roll shipment volumes due to softer end market dema
About this update from Ampco-pittsburgh Corporation
[{"type":"list","items":[{"val":[{"type":"text","content":"Reported earnings per common share of approximately $0.16 for 4Q 2024 and $0.02 for full year 2024.","length":99,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net cash flows provided by operating activities of $7.5 million for 4Q 2024 and $18.0 million for full year 2024.","length":113,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"2024 full year income from operations of $12.2 million includes a $4.1 million non-cash asbestos-related revaluation benefit recorded in Q4 2024.","length":145,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"2024 full year non-GAAP adjusted income from operations of $8.0 million improved $3.7 million vs 2023.","length":102,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Record Air and Liquid Processing segment sales in 2024. Segment sales increased 6.5% for 4Q 2024 and 11% for 2024 full year compared to prior year periods.","length":155,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Exploring options to mitigate losses in underutilized cast roll operations.","length":75,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":689,"olType":false},{"type":"text","content":"CARNEGIE, Pa., March 12, 2025--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) reported net sales of $100.9 million and $418.3 million for the three and twelve months ended December 31, 2024, respectively, compared to $108.1 million and $422.3 million for the three and twelve months ended December 31, 2023, respectively. The decrease for the three months ended December 31, 2024, compared to the prior year quarter is primarily attributable to lower mill roll shipment volumes due to softer end market demand. Sales for the twelve months ended December 31, 2024, declined modestly compared to full year 2023 as growth in Air and Liquid Processing and net mill roll price increases were offset by lower shipment volumes of rolls and forged engineered products.","length":770,"tagName":"p"},{"type":"text","content":"The Corporation reported non-GAAP adjusted income from operations of $1.0 million and $8.0 million for the three and twelve months ended December 31, 2024, respectively, compared to (loss) income of ($0.7) million and $4.2 million for the three and twelve months ended December 31, 2023. Despit...