Ampco-Pittsburgh Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw net sales rise 3.9% year-over-year, with ALP achieving record orders and EBITDA, while FCEP faced temporary timing and tariff issues but expects stronger performance ahead. Annual savings from facility closures and market consolidation are boosting outlook, with $8M–$10M debt reduction targeted.
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Management highlighted a completed business reset, strong growth in both segments, and favorable market trends driven by tariffs, modernization, and industry demand. EBITDA and leverage are improving, with further growth expected from end-market expansion and operational efficiencies.
Fiscal Year 2025
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Q4 2025 results were impacted by asset exits and steel market slowdown, but full year adjusted EBITDA improved and Air and Liquid Processing achieved record results. Strategic actions and market recovery are expected to drive margin expansion and profitability in 2026 and beyond.
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Exiting unprofitable assets and leveraging tariffs and quotas have improved profitability and market position. Air and liquid processing is experiencing rapid growth, especially in nuclear and Navy markets, while modernization and financial discipline are driving margin and EBITDA gains.
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Q3 2025 saw strong financial improvement with Adjusted EBITDA up 35% year-over-year and strategic exits from underperforming assets. The U.K. facility closure and AUP exit are expected to boost profitability, while Air & Liquid Systems achieved record results and robust outlook.
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Q2 2025 saw a 2% sales increase and $8M adjusted EBITDA, but a $6.8M UK exit charge led to a net loss. Air & Liquid Systems achieved record profitability, while tariff uncertainty and the UK plant wind-down are expected to impact near-term results but improve future earnings.
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Q1 2025 saw EPS rise to $0.06 and adjusted EBITDA to $8.8M, with both segments improving margins despite a 5% sales decline year-over-year. Record order intake in Air & Liquid and tariff-driven growth in FEP are expected to support future performance.
Fiscal Year 2024
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Q4 2024 saw improved operating income and cash flow despite lower sales, with record results in Air and Liquid Processing and significant year-over-year gains in Forged and Cast Engineered Products. The U.K. plant remains a major risk due to persistent losses and high energy costs.
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Q3 2024 saw a net loss of $2 million on $96.2 million in sales, with improved operating income and increased backlog despite lower volumes. Management is focused on debt reduction and restructuring, while segment performance benefited from efficiency gains and market share growth.
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Q2 2024 saw strong earnings growth, with net income doubling year-over-year and record results in Air and Liquid Systems. Operational improvements and new equipment drove margin gains, while backlog and liquidity remain solid. Demand outlook is robust, especially in Navy and pharma markets.