Ampco-Pittsburgh reports Q1 EPS 6c vs. (14c) last year

Reports Q1 revenue $104.3M vs. $110.2M last year. Commenting on the quarter, Ampco-Pittsburgh’s (AP) 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. Air and Liquid’s Q1 order intake was at a record high as it continues to see market strength in the nuclear, military, and pharmaceutical markets. We believe we will experience some near-term impacts as markets and supply chains react to the recent tariffs. Our intent is to pass any impact to our customers to protect margins. In addition, we are nearing the end of our collective consultation process at our UK facility and expect a path forward that will eliminate much of the losses for this business.”