Ampco-Pittsburgh Corporation ( (AP) ) has released its Q4 earnings. Here is a breakdown of the information Ampco-Pittsburgh Corporation presented to its investors.
Ampco-Pittsburgh Corporation is a manufacturer and seller of specialty metal products and customized equipment, primarily serving the steel, aluminum, oil and gas, and plastic extrusion industries. The company operates globally with manufacturing facilities in the U.S., England, Sweden, and Slovenia, and its headquarters in Carnegie, Pennsylvania.
Ampco-Pittsburgh Corporation recently announced its financial results for the fourth quarter and full year of 2024. The company reported earnings per share of $0.16 for the fourth quarter and $0.02 for the full year, alongside net cash flows from operating activities of $7.5 million for the quarter and $18.0 million for the year.
Key financial highlights include a full-year income from operations of $12.2 million, bolstered by a $4.1 million non-cash asbestos-related revaluation benefit. The company’s Air and Liquid Processing segment achieved record sales, increasing by 6.5% in the fourth quarter and 11% for the year. However, the company is exploring options to address losses in its underutilized cast roll operations.
The Forged and Cast Engineered Products segment saw a decline in sales due to lower shipment volumes, but improved pricing and manufacturing efficiencies led to a 38% increase in operating income. The Air and Liquid Processing segment also reported strong performance, driven by higher sales volumes and improved product mix.
Looking ahead, Ampco-Pittsburgh’s management remains focused on addressing challenges in its cast roll operations and leveraging its recent investments in high-efficiency equipment to drive future growth and operational improvements.