Ampco-Pittsburgh Corporation (NYSE: AP) Announces First Quarter 2022 Results

May 09, 2022

Ampco-Pittsburgh Corporation (NYSE: AP) (“Ampco-Pittsburgh” or the “Corporation”) reported total net sales of $94.4 million for the three months ended March 31, 2022, compared to $86.8 million for the three months ended March 31, 2021. The increase is primarily attributable to higher sales for the Forged and Cast Engineered Products segment due to higher pricing and surcharges passed through to customers driven by higher raw material, energy and transportation costs, and a higher volume of forged engineered products shipments to the steel distribution and oil and gas markets. This increase was partly offset by a decline in sales in the Air and Liquid Processing segment resulting from supply chain issues impacting the availability of components for production and customer delivery timing.

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