AP

Financial Performance Overview: Ampco-Pittsburgh Corporation reported earnings of $0.16 per share for Q4 2024 and $0.02 for the full year, with net sales of $100.9 million for Q4 and $418.3 million for the year, reflecting a slight decline from the previous year due to lower shipment volumes despite improved pricing and operational efficiencies.

Segment Insights and Challenges: The Air and Liquid Processing segment achieved record sales, while the Forged and Cast Engineered Products segment faced challenges with reduced shipments; the company is exploring options to address losses in underutilized operations, particularly in its U.K. facility.

Price Increase Announcement: Ampco-Pittsburgh Corporation's subsidiary, Union Electric Steel, will raise base prices on all forged and cast products by 6-8% due to inflationary cost increases in labor, healthcare, and supplies, effective immediately on new orders.

Company Overview: Ampco-Pittsburgh Corporation specializes in high-performance specialty metal products and operates globally with manufacturing facilities in multiple countries, serving industries such as steel, aluminum, oil and gas, and more.

Conference Call Announcement: Ampco-Pittsburgh Corporation will hold a conference call on November 12, 2024, at 10:30 a.m. ET to discuss its third-quarter financial results for 2024, with pre-registration encouraged for participants.

Company Overview: Ampco-Pittsburgh Corporation specializes in manufacturing high-performance specialty metal products and equipment, serving industries globally, with operations in multiple countries and a focus on the steel and aluminum sectors.

Pre-Market Activity: The NASDAQ 100 Pre-Market Indicator is up 70.12, with significant trading volumes in stocks like Joby Aviation and Tesla, while several companies are showing varying performance against their target prices.

Stock Recommendations: Companies like NVIDIA and Amphenol Corporation are receiving "buy" recommendations, while others like Capri Holdings and Spirit Airlines have mixed forecasts for their earnings.

Real Estate Listing: A Napa Valley-inspired house designed by architect Howard Backen is listed for sale in Beverly Hills, California.

Asking Price: The property is on the market for $62 million.

Major Order Announcement: Ampco-Pittsburgh's Buffalo Air Handling Division has secured an $8.7 million order for a custom air handling project from a major pharmaceutical company, expected to ship in 2025, marking the largest order from this sector to date.

Growth and Expansion: The company has increased its manufacturing capacity due to rising demand for custom air handling products and has strengthened its sales force, positioning itself for significant future orders while celebrating over 100 years of producing custom products.

Tonix Pharmaceuticals Collaboration: Tonix Pharmaceuticals' stock increased by 9% following its announcement of a partnership with Bilthoven Biologicals to advance its mpox vaccine candidate, TNX-801, which is in preclinical development for preventing mpox and smallpox.

Public Health Concern: The World Health Organization has declared the spread of mpox a public health emergency of international concern, highlighting the urgency for effective vaccines, as other companies like Bavarian Nordic and GeoVax Labs are also working on mpox vaccines.

Q2 2024 Financial Performance: Ampco-Pittsburgh Corporation reported a strong sequential earnings improvement in Q2 2024, with income from operations rising to $5 million compared to $1.4 million in the same quarter last year. The Air & Liquid Systems segment achieved record revenue and bookings, while the Forged & Cast Engineered Products segment faced challenges due to lower cast roll shipments but showed improved operational efficiency.

Future Outlook: The company anticipates continued demand growth, particularly in the Air & Liquid Systems segment driven by new manufacturing capacity and strong markets such as pharmaceuticals and U.S. Navy contracts. Despite some expected seasonal slowdowns, management remains optimistic about maintaining market leadership and improving profitability through strategic pricing and operational enhancements.

Financial Performance: Ampco-Pittsburgh Corporation reported strong Q2 2024 results with net sales of $111 million, a 3% increase from the previous year, and a 53% rise in operating income due to improvements in the Forged and Cast Engineered Products segment and a 19% sales growth in the Air and Liquid Processing segment.

Operational Insights: CEO Brett McBrayer highlighted that the results reflect strong sequential improvement and operational potential, despite ongoing losses in the European cast roll business and challenges in the forged engineered products market.

Ampco-Pittsburgh Q2 2024 Results: The company reported earnings per share of 10 cents and revenue of $110.99 million for the second quarter of 2024.

InvestorPlace Earnings Automation: InvestorPlace Earnings utilizes TradeSmith data to automate the coverage of quarterly earnings reports, providing quick insights on key financial metrics without human intervention.

Financial Performance: Ampco-Pittsburgh Corporation reported increased net sales of $111.0 million for Q2 2024, up from $107.2 million in Q2 2023, driven by growth in the Air and Liquid Processing segment, while net income rose to $2.0 million compared to $0.4 million in the same quarter last year.

Segment Analysis: The Forged and Cast Engineered Products segment saw a slight decline in sales due to lower shipment volumes, whereas the Air and Liquid Processing segment experienced a 19% sales increase attributed to expanded distribution and new manufacturing capabilities, despite some operational challenges affecting profitability.

Financial Performance: Ampco-Pittsburgh Corporation reported a strong Q2 2024 with net sales of $111 million, a 3.5% increase from the previous year, and a 53% rise in operating income driven by improvements in the Forged and Cast Engineered Products segment and a 19% sales growth in the Air and Liquid Processing segment.

Operational Insights: The company experienced challenges in its European cast roll business due to excess capacity, while total backlog improved due to higher order intake; however, interest expenses rose due to increased debt and interest rates.

Earnings Reports Overview: Several companies, including McKesson Corporation, Equinix, and Energy Transfer, are set to report their earnings for the quarter ending June 30, 2024, with varying forecasts indicating increases or decreases in earnings per share compared to the previous year.

Industry Comparisons: The Price to Earnings ratios for these companies suggest differing growth prospects, with some like Applovin Corporation showing significant expected increases, while others such as Nutrien Ltd. anticipate declines, highlighting competitive dynamics within their respective industries.

Earnings Reports Overview: Several companies, including ConocoPhillips, Regeneron Pharmaceuticals, and Eaton Corporation, are set to report their earnings for the quarter ending June 30, 2024, with most showing expected increases in earnings per share compared to the previous year.

Industry Comparisons: The Price to Earnings ratios for these companies indicate that many are projected to experience higher earnings growth than their industry competitors, despite some companies like Thomson Reuters expecting a decrease in earnings per share.

• Virpax Pharmaceuticals surged 139%.
• Kazia Therapeutics gained 129%.
• Longeveron Inc. surged 81.8%.
• VivoPower International climbed 56.8%.
• Various other companies experienced significant stock price movements.

• Lantheus Holdings rose 28.6%.
• SMART Global Holdings gained 17.4%.
• Hawaiian Electric Industries jumped 15.8%.

• Shineco, Inc. shares fell 40.1%.
• Zapp Electric Vehicles Group dropped 38.2%.
• LegalZoom.com, Inc. declined 25.7%.

• Analysts predict Apple to rally around 14%.

Top Gainers:

• Ampco-Pittsburgh (NYSE:AP) stock surges over 75% on commercial contract wins.
• Vivopower (NASDAQ:VVPR) shares soar more than 54% due to an extended loan facility agreement.
• Seelos Therapeutics (NASDAQ:SEEL) stock jumps over 33% with heavy pre-market trading.
• Naas Technology (NASDAQ:NAAS) shares rise by more than 27% in early morning trading.
• Soligenix (NASDAQ:SNGX) stock increases over 25% continuing its rally.

Top Losers:

• LegalZoom.com (NASDAQ:LZ) stock dives 26% after announcing leadership changes.
• MariaDB (NYSE:MRDB) shares tumble more than 25% without apparent news.
• AFC Gamma (NASDAQ:AFCG) stock drops over 20% on Wednesday morning.
• Zapp Electric Vehicles (NASDAQ:ZAPP) shares retreat more than 17% following a rally.
• LogicMark (NASDAQ:LGMK) stock falls over 16% after rallying on Tuesday.