Q1 2026 Ampco-Pittsburgh Corp Earnings Call Transcript
Key Points
- Ampco-Pittsburgh Corp (AP) reported a 17% increase in Q1 revenue for the Air & Liquid segment, driven by higher revenue across all product lines.
- The Air & Liquid segment achieved record adjusted EBITDA and customer orders, with a 52% increase in adjusted EBITDA compared to the prior year.
- Backlog for the Air & Liquid segment increased by $23.5 million or 19%, with customer orders 40% higher than any prior quarter.
- The company is experiencing strong demand from the U.S. Navy and expects this to continue with fleet expansion plans.
- Ampco-Pittsburgh Corp (AP) is well-positioned in markets showing significant long-term growth, such as data centers, power generation, and pharmaceuticals.
- Consolidated adjusted EBITDA for the first quarter was $8 million, down from $8.8 million the prior year, reflecting ramp-up costs in Sweden and a weaker mix in the forge and cast segment.
- The Forged & Cast Engineered Products segment reported a decrease in net sales to $70.8 million from $72.3 million in Q1 2025.
- Higher cost inventory from Q4 2025 negatively impacted the P&L due to production downtime and tariff uncertainty.
- The closure of the UK facility and a small steel distribution business in the U.S. resulted in relatively flat sales for the Forged & Cast segment.
- The company faced temporary timing issues affecting adjusted EBITDA, primarily in the Forged & Cast segment, which are expected to reverse in the coming quarters.
Good day, and welcome to the Ampco-Pittsburgh First Quarter 2026 Earnings Results Conference Call.
All participants will be in a listen-only mode.
(Operator Instructions). After today's presentation, there will be an opportunity to ask questions.
(Operator Instructions). Please note, this event is being recorded.
I would now like to turn the conference call over to Ms. Kim Knox. Ms. Knox, the floor is yours, ma'am.
Thank you, Mike, and good morning to everyone joining us on today's first quarter 2026 conference call. Joining me today are Brett McBrayer, our Chief Executive Officer; and David 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
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
