Ampco-Pittsburgh reports Q4 EPS 16c vs ($2.12) last year

Reports Q4 revenue $100.9M vs $108.1M last year. Commenting on the year, Ampco-Pittsburgh’s (AP) CEO, Brett McBrayer, said, “Our 2024 non-GAAP adjusted income from operations of $8.0 million in 2024 is at the highest level we’ve experienced in years, and improved $3.7 million over 2023. Despite lower sales revenue in 2024, the Forged and Cast Engineered Products segment delivered 38% higher operating income than a year ago due to pricing actions and manufacturing efficiency and absorption improvements. These results include only a partial year of operations with the new high-efficiency equipment installed in our U.S. forged business. The Air and Liquid segment delivered record sales in 2024 with consistently strong income. However, excess plant capacity in our cast roll system continues to weigh heavily on our operating results. As a result, we have entered into a formal collective consultation process with the represented workforce of our U.K. facility, where a depressed market and high energy costs have caused operating losses in excess of $5 million per year.”