Q2 2025 Ampco-Pittsburgh Corp Earnings Call Transcript
Key Points
- Ampco-Pittsburgh Corp (AP) reported adjusted EBITDA of $8 million for the second quarter of 2025.
- The Air & Liquid Processing segment saw a 15% increase in adjusted EBITDA compared to the prior year, marking the highest year-to-date adjusted EBITDA in the segment's history.
- The company anticipates a minimum of a $5 million operating income improvement annually following the wind down of the UK cash roll facility.
- The Air & Liquid Systems segment reported a backlog increase of 8% from the start of the year, with strong demand in the nuclear, military, and pharmaceutical markets.
- Ampco-Pittsburgh Corp (AP) successfully amended and extended its credit agreement through 2030, providing greater flexibility to support global working capital needs.
- The quarterly results were negatively impacted by a pause in customer orders due to tariff uncertainties, leading to a shutdown in production for the Forged and Cast Engineered Products group.
- The UK cash roll facility continues to experience significant losses, necessitating a wind down of operations.
- The Forged Cast Engineered Products segment reported a decrease in plant utilization and lower revenue and margin from forged work rolls, negatively affecting earnings.
- The company recorded $6.8 million in expenses related to the UK exit charge, impacting the financial results for the quarter.
- Net loss attributable to Ampco-Pittsburgh Corp (AP) for the quarter was $7.3 million, or $0.36 per share, including the UK exit charge.
Welcome to the Ampco-Pittsburgh Corporation second-quarter 2025 earnings results conference call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Kim Knox, Corporate Secretary. Please go ahead
Thank you, Gary, and good morning to everyone joining us on today's second quarter 2025 conference call. Joining me today are Brett McBrayer, our Chief Executive Officer; and Mike McAuley, Senior Vice President, Chief Financial Officer and Treasurer. Also joining us on the call today are Sam Lyon, President of Union Electric Steel Corporation; and Dave Anderson, President of Air & Liquid Systems Corporation.
Before we begin, I would like to remind everyone that participants on this call may make statements or comments that are forward-looking and may include financial projections or other statements of the corporation's plans, objectives, expectations or intentions. These matters involve certain risks and uncertainties, many
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