Q4 2025 Ampco-Pittsburgh Corp Earnings Call Transcript
Key Points
- Ampco-Pittsburgh Corp (AP) expects to improve adjusted EBITDA by $7 million to $8 million annually after removing underperforming assets.
- The Air and Liquid Processing segment achieved record revenue and income for 2025, with a 21% increase in full-year adjusted EBITDA.
- Bookings for both operating segments have accelerated in the first two months of 2026, with a 73% increase in order activity compared to the prior year.
- The company is well-positioned in markets with significant long-term growth potential, such as the nuclear and US Navy markets.
- Ampco-Pittsburgh Corp (AP) achieved a fully funded status for its pension plan in early 2026, indicating strong financial health.
- Consolidated adjusted EBITDA for the fourth quarter was $3.2 million, down from $6 million the prior year, due to a pause in customer orders in the Forged and Cast segment.
- The Forged and Cast Engineered Products segment reported an operating loss of $44.7 million for the full year, primarily due to onetime exit costs.
- Backlog declined by $8 million year over year, driven by the US Navy's termination of the Constellation frigate program.
- The company faced a noncash $11.9 million after-tax expense related to a revaluation charge of its asbestos accrual.
- The weakening of the dollar to the SEK created a short-term headwind for the Sweden facility, impacting costs and revenue.
Welcome to the Ampco-Pittsburgh Corporation fourth-quarter 2025 earnings results conference call. (Operator Instructions) Please note, this event is being recorded.
I'd now like to turn the conference over to Kim Knox, Corporate Secretary. Please go ahead, ma'am.
Thank you, Nick, and good morning to everyone joining us on today's fourth-quarter 2025 conference call. Joining me today are Brett McBrayer, our Chief Executive Officer; and Dave Anderson, Vice President, Chief Financial Officer and President of Air and Liquid Systems Corporation. Also joining us on the call today is Sam Lyon, President of Union Electric Steel 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 of which are outside the
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