Ampco-Pittsburgh (AP) Q4 2025 Earnings Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
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Source: NASDAQ.COM
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Analyst Views on AP
About AP
Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. The Company's segments include Forged and Cast Engineered Products (FCEP) and Air and Liquid Processing (ALP). The FCEP segment produces forged hardened steel rolls, cast rolls and forged engineered products (FEP). Forged hardened steel rolls are used primarily in hot and cold rolling. Cast rolls, which are produced in a variety of iron and steel qualities. The ALP segment includes Aerofin, Buffalo Air Handling and Buffalo Pumps, all divisions of Air & Liquid Systems Corporation, a subsidiary of the Company. Aerofin produces custom-engineered finned tube heat exchange coils and related heat transfer products for a variety of industries, including original equipment manufacturers and commercial, nuclear power generation and industrial manufacturing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ampco-Pittsburgh Q4 2025 Earnings Call Highlights
- Asset Divestiture Impact: Ampco-Pittsburgh's completion of underperforming asset removals in Q4 is expected to enhance annual adjusted EBITDA by $7 million to $8 million, demonstrating the company's commitment to optimizing its asset portfolio.
- Revenue Growth Amid Challenges: Although Q4 adjusted EBITDA fell to $3.2 million due to a pause in customer orders, the full-year adjusted EBITDA reached $29.2 million, reflecting resilience in maintaining revenue growth despite adverse conditions.
- Strong Market Demand: The Air and Liquid Processing segment achieved record highs in both revenue and adjusted EBITDA for 2025, with Q4 revenue up 10% year-over-year, indicating robust demand in nuclear and Navy markets and signaling ongoing growth potential.
- Production Expansion Plans: Union Electric Steel's Swedish facility aims for a 20% production increase by Q3 2026, with management anticipating margin expansion as the order book normalizes, highlighting the company's proactive strategy in adapting to market dynamics.
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Metals Fabrication Shares Decline
- Sector Decline: Metals fabrication and products shares collectively fell by approximately 0.9%, indicating a weak performance in the sector that may undermine investor confidence.
- Ampco-Pittsburgh Plummets: Ampco-Pittsburgh's stock dropped by about 32.5%, a significant decline likely driven by weak fundamentals or market concerns regarding its future prospects, prompting investor sell-offs.
- Almonty Industries Under Pressure: Almonty Industries saw a decline of approximately 6.4%, reflecting market doubts about its competitiveness and profitability in the metals sector, which could impact its financing and expansion plans.
- Market Sentiment Deteriorates: The poor performance of the metals fabrication sector may lead related companies to adopt a more cautious approach in future financing and investment decisions, potentially affecting the long-term growth of the industry.
See More
Ampco-Pittsburgh (AP) Q4 2025 Earnings Transcript
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Ampco-Pittsburgh Q4 Earnings Analysis
- Earnings Report: Ampco-Pittsburgh reported a Q4 non-GAAP EPS of -$0.17, with revenue increasing by 7.8% year-over-year to $108.79 million, yet the inability to achieve profitability indicates ongoing challenges in financial performance.
- Adjusted EBITDA Decline: The adjusted EBITDA for Q4 2025 was $3.2 million, significantly down from $6.0 million in the prior year, reflecting pressures on cost control and operational efficiency that could impact future investor confidence.
- Record Orders: Despite challenges from a pullback in defense demand, Ampco-Pittsburgh reported record orders, indicating resilience in market demand that may lay the groundwork for future revenue growth.
- Margin Growth: The company achieved growth in margins, which, despite the overall poor financial performance, may attract investors looking for long-term opportunities, suggesting efforts in optimizing operations and cost management.
See More
Ampco-Pittsburgh Sees Significant Order Activity Growth
- Order Activity Growth: Ampco-Pittsburgh reported a 38% increase in order activity for the first two months of 2026 compared to the same period last year, indicating a robust recovery in overall business and market demand.
- Segment Performance: Both operating segments experienced growth, with the Forged and Cast Engineered Products segment seeing an 18% year-over-year increase in orders, while the Air and Liquid Processing segment surged by 73%, highlighting the company's competitive strength across different market areas.
- Positive Market Reaction: Following the significant order activity growth, Ampco-Pittsburgh's stock rose 2.42% in premarket trading to $8.05, reflecting investor optimism regarding the company's future performance.
- Strategic Implications: This growth trend not only strengthens the company's position in the industry but also lays the groundwork for future profitability and market share expansion, particularly in the context of rising demand.
See More
Ampco-Pittsburgh Sees Significant Increase in Order Activity
- Order Activity Surge: Ampco-Pittsburgh reported a 38% year-over-year increase in order activity for the first two months of 2026, with the Forged and Cast Engineered Products segment up 18% and the Air and Liquid Processing segment soaring 73%, indicating robust demand across multiple markets.
- Market Recovery: CEO Brett McBrayer highlighted that demand for Forged Engineered Products has surged due to recent tariffs, while traditional rolled products are recovering from a temporary pause in the latter half of 2025, reflecting the market's adjustment to the new trade landscape.
- Strategic Restructuring Success: By eliminating underperforming locations at the end of 2025, Ampco-Pittsburgh has fundamentally strengthened its operational foundation and is now focused on markets with the highest long-term growth potential, which is expected to drive further growth in the upcoming quarters.
- Positive Industry Outlook: The sustained strong demand for air and liquid processing products from sectors such as nuclear, military, pharmaceuticals, and data centers indicates Ampco-Pittsburgh's increasing competitiveness and market share in the high-performance metal products sector.
See More
Ampco-Pittsburgh Q4 2025 Earnings Call Highlights
- Asset Divestiture Impact: Ampco-Pittsburgh's completion of underperforming asset removals in Q4 is expected to enhance annual adjusted EBITDA by $7 million to $8 million, demonstrating the company's commitment to optimizing its asset portfolio.
- Revenue Growth Amid Challenges: Although Q4 adjusted EBITDA fell to $3.2 million due to a pause in customer orders, the full-year adjusted EBITDA reached $29.2 million, reflecting resilience in maintaining revenue growth despite adverse conditions.
- Strong Market Demand: The Air and Liquid Processing segment achieved record highs in both revenue and adjusted EBITDA for 2025, with Q4 revenue up 10% year-over-year, indicating robust demand in nuclear and Navy markets and signaling ongoing growth potential.
- Production Expansion Plans: Union Electric Steel's Swedish facility aims for a 20% production increase by Q3 2026, with management anticipating margin expansion as the order book normalizes, highlighting the company's proactive strategy in adapting to market dynamics.
See More
Metals Fabrication Shares Decline
- Sector Decline: Metals fabrication and products shares collectively fell by approximately 0.9%, indicating a weak performance in the sector that may undermine investor confidence.
- Ampco-Pittsburgh Plummets: Ampco-Pittsburgh's stock dropped by about 32.5%, a significant decline likely driven by weak fundamentals or market concerns regarding its future prospects, prompting investor sell-offs.
- Almonty Industries Under Pressure: Almonty Industries saw a decline of approximately 6.4%, reflecting market doubts about its competitiveness and profitability in the metals sector, which could impact its financing and expansion plans.
- Market Sentiment Deteriorates: The poor performance of the metals fabrication sector may lead related companies to adopt a more cautious approach in future financing and investment decisions, potentially affecting the long-term growth of the industry.
See More
Ampco-Pittsburgh (AP) Q4 2025 Earnings Transcript
See More
Ampco-Pittsburgh Q4 Earnings Analysis
- Earnings Report: Ampco-Pittsburgh reported a Q4 non-GAAP EPS of -$0.17, with revenue increasing by 7.8% year-over-year to $108.79 million, yet the inability to achieve profitability indicates ongoing challenges in financial performance.
- Adjusted EBITDA Decline: The adjusted EBITDA for Q4 2025 was $3.2 million, significantly down from $6.0 million in the prior year, reflecting pressures on cost control and operational efficiency that could impact future investor confidence.
- Record Orders: Despite challenges from a pullback in defense demand, Ampco-Pittsburgh reported record orders, indicating resilience in market demand that may lay the groundwork for future revenue growth.
- Margin Growth: The company achieved growth in margins, which, despite the overall poor financial performance, may attract investors looking for long-term opportunities, suggesting efforts in optimizing operations and cost management.
See More
Ampco-Pittsburgh Sees Significant Order Activity Growth
- Order Activity Growth: Ampco-Pittsburgh reported a 38% increase in order activity for the first two months of 2026 compared to the same period last year, indicating a robust recovery in overall business and market demand.
- Segment Performance: Both operating segments experienced growth, with the Forged and Cast Engineered Products segment seeing an 18% year-over-year increase in orders, while the Air and Liquid Processing segment surged by 73%, highlighting the company's competitive strength across different market areas.
- Positive Market Reaction: Following the significant order activity growth, Ampco-Pittsburgh's stock rose 2.42% in premarket trading to $8.05, reflecting investor optimism regarding the company's future performance.
- Strategic Implications: This growth trend not only strengthens the company's position in the industry but also lays the groundwork for future profitability and market share expansion, particularly in the context of rising demand.
See More
Ampco-Pittsburgh Sees Significant Increase in Order Activity
- Order Activity Surge: Ampco-Pittsburgh reported a 38% year-over-year increase in order activity for the first two months of 2026, with the Forged and Cast Engineered Products segment up 18% and the Air and Liquid Processing segment soaring 73%, indicating robust demand across multiple markets.
- Market Recovery: CEO Brett McBrayer highlighted that demand for Forged Engineered Products has surged due to recent tariffs, while traditional rolled products are recovering from a temporary pause in the latter half of 2025, reflecting the market's adjustment to the new trade landscape.
- Strategic Restructuring Success: By eliminating underperforming locations at the end of 2025, Ampco-Pittsburgh has fundamentally strengthened its operational foundation and is now focused on markets with the highest long-term growth potential, which is expected to drive further growth in the upcoming quarters.
- Positive Industry Outlook: The sustained strong demand for air and liquid processing products from sectors such as nuclear, military, pharmaceuticals, and data centers indicates Ampco-Pittsburgh's increasing competitiveness and market share in the high-performance metal products sector.
See More
