Q4 2024 Ampco-Pittsburgh Corp Earnings Call Transcript

Mar 13, 2025 / 02:30 PM GMT

Release Date Price: $2.17 (+21.23%)

Transcript 10-K8-K

Key Points

Positve

Ampco-Pittsburgh Corp (AP) reported earnings per common share of $0.16 for Q4 2024, indicating profitability.
The Air and Liquid Processing segment achieved record sales in 2024, improving by 11% from the prior year.
The Forged and Cast Engineered Products segment saw a 38% improvement in income from operations compared to 2023.
The company received $4 million in additional funding from the US Navy to modernize its Buffalo facility, indicating strong government support.
Ampco-Pittsburgh Corp (AP) reported a net cash flow from operating activities of $18 million for 2024, a significant improvement from the previous year.

Negative

Consolidated net sales for Q4 2024 declined by 6.6% compared to Q4 2023, primarily due to lower shipment volumes of mill rolls.
The UK operations have been a financial burden, with losses over $5 million in the past two years, prompting a formal collective consultation process.
High energy costs and market overcapacity in the UK plant are significant challenges, with energy costs being double those in the Sweden plant.
Interest expenses increased in 2024 due to higher equipment financing debt balance and higher average interest rates.
The income tax provision was higher in 2024 due to the establishment of a valuation allowance on the net deferred tax assets of UK operations.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AP.N - Ampco-Pittsburgh Corp
Q4 2024 Ampco-Pittsburgh Corp Earnings Call
Mar 13, 2025 / 02:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone and welcome to the AMCO Pittsburgh Corporation 4th quarter 2024 earnings results conference call.

All participants will be in a listen-only mode. Should you need assistance, please to a conference specialist by pressing the star key followed by 0.

After today's presentation there will be an opportunity to ask questions.

Ask a question, please press star and then 1 on your telephone keypad to withdraw your questions you may press star and 2.

There's also not today's event is being recorded.

At this time I'd like to turn the floor over to Tim Knox, corporate secretary. Please go ahead.

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