Ampco-Pittsburgh reports Q2 EPS 10c vs. 2c last year

Reports Q2 revenue $111.0M vs. $107.2M last year. Commenting on the quarter, Ampco-Pittsburgh’s CEO, Brett McBrayer, said, “Our final Q2 results came in at the high end of our previous guidance range, reflecting the strong sequential improvement we expected in both segments. With the first full quarter of all the new machinery running in our U.S. forged plants and a sequential rebound in Air and Liquid Processing segment margins during the quarter, our Q2 results reflect our current potential in a steady production environment with no unusual items coming into play. We are still experiencing losses in our European cast roll business due to excess capacity and the market for forged engineered products remains weak, but total backlog has improved sequentially due to higher order intake during the quarter.”