AP
Ampco-Pittsburgh Corporation3.6000
-0.0700-1.91%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details tariff digestion, nuclear ties
Q&A clarified the FCEP tariff pause stemmed from customers digesting composite roll calculations, now resolved with U.S. pricing rising alongside Nucor above $1,000/ton and Canada/Mexico following suit. Air & Liquid's Q4 margin dip reflected unusual mix, with full-year results more representative and strong incrementals in nuclear/Navy markets. Management confirmed prior Westinghouse AP1000 heat exchanger supply, eyeing ramp-up potential. Sweden's 40% USD-denominated sales face FX headwinds, but pricing adjusts in 2026-2027 as SEK rebounds. Answers largely reaffirmed prepared optimism on 2026 recovery. Q&A adds helpful color, not surprises. Investors will track FCEP margin ramp and nuclear orders.
Key Stats
Market Cap
73.17MP/E (TTM)
-Basic EPS (TTM)
-0.27Dividend Yield
0%Recent Filings
8-K
UK exit masks EBITDA gains
10-K
FY2025 results
Ampco-Pittsburgh posted FY2025 net sales of $434M, up 3.8% y/y, with FCEP at $293M (flat rolls, +36% FEP) and ALP surging 7.6% on power gen and military demand. Yet operations flipped to a $54M loss from $12M profit, hammered by $41M UES-UK deconsolidation, $11M exit charges, and $12M asbestos hit—Q4 bore the brunt with UK insolvency in October. Backlog shrank 13% to $329M, FCEP rolls down sharply but FEP up; ALP dipped on Navy frigate cancellation. Cash fell to $11M amid weak ops cash; $25M revolver room remains. UES-UK exit streamlines ops. Cyclical steel demand threatens momentum.
8-K
CFO transition announced
Ampco-Pittsburgh announced CFO Michael McAuley’s resignation effective December 31, 2025, with David G. Anderson stepping in as VP, CFO, Treasurer, and Assistant Secretary from January 1, 2026, while retaining his presidency at subsidiary Air & Liquid Systems. Anderson’s base salary rises to $430,000, with STI at 65% and LTI at 85% of base. McAuley transitions to Strategic Advisor through June 30, 2026, at $495,000 annualized. Leadership continuity holds.
8-K
Investor deck flags EBITDA boost
Ampco-Pittsburgh posted its November 2025 investor presentation under Item 7.01, outlining strategic resets like exiting the unprofitable UES-UK cast roll facility and AUP steel distribution site. These moves promise $7M to $8M annual EBITDA gains starting Q4 2025, while Air and Liquid Processing eyes 8-10% organic growth amid Navy and nuclear tailwinds. Debt reduction accelerates. Leverage drops soon.
10-Q
Q3 FY2025 results
Ampco-Pittsburgh posted Q3 net sales of $108M, up 12% y/y from $96M (derived), driven by ALP's 26% surge while FCEP edged 6% higher amid softer roll demand. Operating income slipped to $1.1M from $1.9M y/y, hit by $3.1M exit charges for UES-UK wind-down and AUP closure; net loss attributable to common hit $(0.11) per share on 20.2M diluted shares, matching prior year. Cash held steady at $15M with $28M revolver availability, total debt $135M including $51M revolver at ~7.4% and $46M sale-leasebacks to 2062; FCF not disclosed in the 10-Q. UES-UK entered Structured Insolvency Oct 14 under Insolvency Act 1986, expecting $43-45M Q4 non-cash hit. Tariffs crimp orders.
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