Business
Ampco-Pittsburgh Corporation (NYSE: AP) Announces First Quarter 2025 Results
CARNEGIE, Pa., May 12, 2025--Ampco-Pittsburgh Corporation (NYSE: AP) reported net sales of $104.3 million for the three months ended March 31, 2025, compared to $110.2 million for the three months ended March 31, 2024. Both the Forged and Cast Engineered Products ("FCEP") segment and the Air and Liquid Processing ("ALP") segment had lower sales year-over-year.
About this update from Ampco-pittsburgh Corporation
[{"type":"list","items":[{"val":[{"type":"text","content":"Net income attributable to Ampco-Pittsburgh of $1.1 million in Q1 2025, a $3.8 million year-over-year increase","length":110,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Earnings per common share of $0.06, up $0.20 versus prior year","length":62,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA of $8.8 million in Q1 2025 compared to $5.1 million in Q1 2024","length":78,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":250,"olType":false},{"type":"text","content":"CARNEGIE, Pa., May 12, 2025--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) reported net sales of $104.3 million for the three months ended March 31, 2025, compared to $110.2 million for the three months ended March 31, 2024. Both the Forged and Cast Engineered Products ("FCEP") segment and the Air and Liquid Processing ("ALP") segment had lower sales year-over-year.","length":399,"tagName":"p"},{"type":"text","content":"Despite lower sales, the Corporation reported income from operations of $3.9 million for the three months ended March 31, 2025, which increased substantially compared to income from operations of $0.1 million for the three months ended March 31, 2024. Adjusted EBITDA, calculated as net income (loss) excluding interest expense, other income – net, income tax provision, depreciation and amortization, and stock based compensation expense was $8.8 million for the three months ended March 31, 2025, compared to $5.1 million for the three months ended March 31, 2024.","length":566,"tagName":"p"},{"type":"text","content":"For the three months ended March 31, 2025, compared to the same period of the prior year, FCEP’s operating income improved as a result of higher pricing, manufacturing efficiencies and improved machine uptime and ALP’s operating income improved on favorable mix of products sold in 2025 versus prior year. Corporate costs were consistent year-over year.","length":353,"tagName":"p"},{"type":"text","content":"Commenting on the quarter, Ampco-Pittsburgh’s CEO, Brett McBrayer, said, "We experienced a very positive start to the year as both segments contributed to significant improvement in adjusted EBITDA versus the prior year. The new equipment in our U.S. forged business continues to produce positive results....