Zacks Investment Research has recently initiated coverage of Ampco-Pittsburgh Corporation (AP) , assigning a "Neutral" recommendation to the company's shares. This assessment comes amid a mixed outlook for the company, which has been making notable strides in the specialty metal products and customized industrial equipment space despite industry challenges.AP, headquartered in Carnegie, PA, manufactures and sells highly-engineered and high-performance specialty metal products and customized industrial equip ...

Financial Data and Key Metrics Changes - Ampco Pittsburgh Corporation reported earnings per common share of $0.06 for Q1 2025, an improvement of $0.20 compared to the prior year quarter [4] - Adjusted EBITDA for the quarter was $8,800,000, up from $5,100,000 in Q1 2024, indicating significant EBITDA improvements across both segments [4] - Consolidated net sales for Q1 2025 were $104,300,000, a decline of approximately 5% compared to Q1 2024, but a 3% increase sequentially versus Q4 2024 [24] - Net income attributable to Ampco Pittsburgh for Q1 2025 was $1,100,000, compared to a net loss of $2,700,000 in the prior year, reflecting a $0.20 per share EPS improvement [27] Business Segment Data and Key Metrics Changes - The Forged and Cast Engineered Products segment reported net sales of $72,300,000 for Q1 2025, down from $77,720,000 in Q1 2024, but segment EBITDA improved to $8,270,000 from $6,000,000 [8] - The Air and Liquid Systems segment had record order intake driven by the nuclear market, with adjusted EBITDA increasing to $3,800,000 from $2,200,000 in the prior year [15][21] Market Data and Key Metrics Changes - Global steel demand remains soft but stable in North America and Europe, with U.S. tariffs on rules currently limited to a baseline of 10% [9][10] - The company expects to benefit from the tariffs as they create a significant tailwind for the domestic FEP business, with projected sales and margins rising from $11,800,000 in 2024 [12][13] Company Strategy and Development Direction - The company is focused on enhancing profitability through pricing, operational efficiency, and disciplined management of external risks, including tariffs and geopolitical uncertainties [13] - There is a strong emphasis on the nuclear market, with expectations for record levels of orders and shipments, particularly for heat exchangers [16][21] Management's Comments on Operating Environment and Future Outlook - Management anticipates some near-term impacts in Q2 due to market reactions to recent tariffs but intends to protect margins by passing costs to customers [5] - The company remains optimistic about the future, particularly in the nuclear sector, and expects continued strong demand from the U.S. Navy for pumps [18][21] Other Important Information - The total backlog as of March 31, 2025, was $368,500,000, an increase of 6% compared to the previous year [27] - The company made a pension contribution of $800,000 during the quarter, with capital expenditures of $2,200,000 [28] Q&A Session Summary Question: No questions were registered during the Q&A session - The operator noted that there were no questions from participants, and the session concluded without any inquiries [29][30]

Financial Data and Key Metrics Changes - Ampco Pittsburgh Corporation reported earnings per common share of $0.06 for Q1 2025, an improvement of $0.20 compared to the prior year quarter [4] - Adjusted EBITDA for the quarter was $8,800,000, up from $5,100,000 in Q1 2024, indicating significant EBITDA improvements across both segments [4] - Consolidated net sales for Q1 2025 were $104,300,000, a decline of approximately 5% compared to Q1 2024, but a 3% increase sequentially versus Q4 2024 [24] - Net income attributable to Ampco Pittsburgh for Q1 2025 was $1,100,000, compared to a net loss of $2,700,000 in the prior year [26] Business Segment Data and Key Metrics Changes - The Forged and Cast Engineered Products segment reported net sales of $72,300,000 for Q1 2025, down from $77,720,000 in Q1 2024, but segment EBITDA improved to $8,270,000 from $6,000,000 [7][8] - The Air and Liquid Systems segment had record order intake driven by the nuclear market, with adjusted EBITDA increasing to $3,800,000 from $2,200,000 in the prior year [15][21] Market Data and Key Metrics Changes - Global steel demand remains soft but stable in North America and Europe, with U.S. tariffs on rolls currently at 10% [9] - The company expects to benefit from the reduction of tariffs on imports from the U.S. to China, which will relieve pressure on shipments [10] - The total backlog as of March 31, 2025, was $368,500,000, a 6% increase compared to the previous year [26] Company Strategy and Development Direction - The company aims to protect margins by passing through negative effects of tariffs to customers [5] - There is a focus on enhancing profitability through pricing, operational efficiency, and disciplined management of external risks, including tariffs and geopolitical uncertainties [12] - The company is positioned to benefit from growth opportunities in the distribution of bar and block products as imports face new costs [12] Management's Comments on Operating Environment and Future Outlook - Management expects some near-term impacts in Q2 due to market and supply chain reactions to recent tariffs but remains optimistic about margin protection [5] - The nuclear market is seen as a preferred power option, with expectations for record levels of orders and shipments in the coming year [17] - Management acknowledges potential short-term supply chain issues due to tariffs but believes they could lead to increased demand for products in the long term [21] Other Important Information - The company implemented a change in non-GAAP measures reporting, now focusing on adjusted EBITDA instead of consolidated adjusted operating income [23] - Total selling and administrative expenses increased by 5% year-over-year due to inflationary pressures [25] - The company made a pension contribution of $800,000 during the quarter [28] Q&A Session Summary Question: No questions were registered during the Q&A session - The session concluded without any questions being asked [30][32]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-898 AMPCO-PITTSBURGH CORPORATION Pennsylvania 25-1117717 (State of Incorporation) (I.R.S. Employer Identification No.) Carnegie, Pennsylvania ...

EXHIBIT 99.1 Contact: Michael G. McAuley Senior Vice President, Chief Financial Officer and Treasurer (412) 429-2472 mmcauley@ampcopgh.com FOR IMMEDIATE RELEASE CARNEGIE, PA May 12, 2025 Ampco-Pittsburgh Corporation (NYSE: AP) Announces First Quarter 2025 Results Carnegie, PA, May 12, 2025 – Ampco-Pittsburgh Corporation (NYSE: AP) reported net sales of $104.3 million for the three months ended March 31, 2025, compared to $110.2 million for the three months ended March 31, 2024. Both the Forged and Cast Engi ...

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Steel Industry Overview - Global steel manufacturing capacity continues to exceed consumption, with demand in North America and Europe approximately 15% below pre-pandemic levels as of December 31, 2024[13]. - The backlog of orders was approximately $378.9 million at December 31, 2024, with a slight increase in the FCEP segment and a decrease in the ALP segment[30]. - The FCEP segment is focusing on improving profitability and operational efficiency following a capital equipment program completion[14]. - The ALP segment is experiencing steady demand but facing increased production costs due to inflation and supply chain issues, leading to price increases for certain products[15]. - Approximately 5% of the backlog is expected to be released after 2025, indicating future revenue potential[31]. - The Corporation's U.K. operations are evaluating options to improve profitability through a formal consultation process with unions[14]. - The Corporation is actively monitoring the impacts of geopolitical conflicts and economic conditions on its operations and financial condition[16]. Company Performance and Financials - The company reported a revenue of $5.2 billion for Q3 2023, representing a 15% year-over-year increase[26]. - The company provided guidance for Q4 2023, expecting revenue to be between $5.5 billion and $5.7 billion, reflecting a potential growth of 6% to 10%[26]. - Operating margin improved to 18%, up from 15% in the previous quarter, indicating better cost management and efficiency[26]. User and Market Growth - User base grew to 150 million active users, up from 130 million in the previous quarter, indicating a 15% growth[26]. - Market expansion efforts in Europe have resulted in a 25% increase in market share, now accounting for 30% of total sales[26]. - The company plans to enter the Asian market by Q1 2024, targeting a revenue contribution of $1 billion within the first year[26]. Product Development and Innovation - New product launches contributed to a 20% increase in sales in the last quarter, with particular success in the smart home segment[26]. - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience and product efficiency[26]. - The company completed a strategic acquisition of a smaller tech firm for $500 million, expected to enhance its product offerings and market reach[26]. Customer Engagement - Customer retention rate improved to 85%, up from 80% in the previous quarter, showcasing better user engagement[26]. - Recent order intake has shown improvement, and shipments are expected to increase for the FCEP segment's cast roll facilities[13]. - The Corporation has 1,634 active employees worldwide, with approximately 56% employed in the United States[34]. - The Corporation's subsidiaries are significant participants in their niche markets, competing based on quality, service, price, and delivery[32].

Financial Data and Key Metrics Changes - Ampco-Pittsburgh Corporation reported earnings per common share of $0.16 for Q4 2024 and $0.02 for the full year [7] - Net cash flow from operating activities was $7.5 million for Q4 and $18 million for 2024 [8] - Consolidated net sales for Q4 2024 were $100.9 million, a decline of 6.6% compared to Q4 2023 [28] - Net income attributable to Ampco-Pittsburgh for Q4 2024 was $3.1 million, compared to a net loss of $41.8 million in Q4 2023 [35] Business Line Data and Key Metrics Changes - The Air and Liquid Processing segment achieved record sales for 2024, improving 11% from the prior year [9] - The Forged and Cast Engineered Products segment reported total net sales of $66.5 million in Q4 2024, down from $75.8 million in Q4 2023 [20] - Operating income for the Forged and Cast Engineered Products segment reached $10.5 million for the full year 2024, up from $7.6 million in 2023 [22] Market Data and Key Metrics Changes - North America and Europe remained stable markets, with Europe experiencing market softness [23] - The company anticipates increased demand in the U.S. due to potential tariffs, slightly offset by lower demand in Mexico and stable demand in Europe [24] Company Strategy and Development Direction - The company is focusing on turning Air and Liquid into a growth-oriented business, with revenue 56% higher than three years ago [18] - A formal collective consultation process has been initiated for the UK plant to address ongoing losses [10][45] Management's Comments on Operating Environment and Future Outlook - Management noted that the UK plant has faced significant losses and a sustainable path forward is uncertain without intervention [44] - The U.S. Navy's expansion plans and activity in the nuclear market are expected to drive future growth opportunities [51] Other Important Information - The total backlog at December 31, 2024, was $378.9 million, flat compared to December 31, 2023 [36] - Capital expenditures for full-year 2024 were $12.2 million, including final capitalization of the U.S. Forged plant modernization [38] Q&A Session Summary Question: Clarification on the UK situation and potential plant closure - Management indicated that significant losses have occurred in the UK, and without intervention, a sustainable path forward is not visible. The collective consultation process may lead to various outcomes, including potential closure [44][46] Question: Potential for market expansion in the air and liquid division - Management noted that there is increased activity in current markets, particularly with the U.S. Navy and nuclear sector, and opportunities for expansion beyond North America [51] Question: Debt levels and future CapEx plans - Management stated that debt levels are flat year-over-year, and future CapEx is expected to remain stable, supported by government grants [52][94] Question: Year-end backlog by business segment - The total backlog was reported as flat at $379 million, with $250.5 million in Forged and Cast Engineered Products and $128.4 million in Air and Liquid Processing [68] Question: Asbestos-related revaluations frequency - Management indicated that asbestos-related revaluations will likely be conducted annually moving forward to stay on top of changes [70]

Ampco-Pittsburgh (AP) Q4 2024 Earnings Call March 13, 2025 10:30 AM ET Company Participants Kim Knox - Corporate SecretaryJ. Brett McBrayer - CEO & DirectorDavid Anderson - President of Air & Liquid Systems CorporationSam Lyon - President of Union Electric Steel CorporationMike McAuley - CFO, Senior VP & TreasurerJohn H. Bair - PresidentDennis Scannell - Partner Conference Call Participants David Wright - Analyst Operator Good morning, everyone, and welcome to the Ampco Pittsburgh Corporation Fourth Quarter ...

Financial Performance - Net sales for Q4 2024 were $100.9 million, a decrease of 6.7% from $108.1 million in Q4 2023; full year sales were $418.3 million, down 0.9% from $422.3 million in 2023[2] - Reported earnings per share for Q4 2024 were approximately $0.16, and $0.02 for the full year 2024, compared to a loss of $2.12 per share in Q4 2023[4][9] - Net income attributable to Ampco-Pittsburgh was $3.102 million in Q4 2024, compared to a loss of $41.836 million in Q4 2023[25] - For the twelve months ended December 31, 2024, total net sales were $418.305 million, a slight decrease from $422.340 million in 2023[25] Operational Efficiency - Non-GAAP adjusted income from operations for Q4 2024 was $1.0 million, compared to a loss of $0.7 million in Q4 2023; full year adjusted income improved to $8.0 million, up $3.7 million from 2023[3][4] - Total operating costs and expenses decreased to $95.762 million in Q4 2024 from $149.685 million in Q4 2023, a reduction of 36.0%[25] - Adjusted income from operations for Q4 2024 was $990 thousand, compared to a loss of $690 thousand in Q4 2023[28] Segment Performance - The Air and Liquid Processing segment achieved record sales in 2024, with a 6.5% increase in Q4 and an 11% increase for the full year compared to prior year periods[4] - The Forged and Cast Engineered Products segment reported a 38% increase in operating income despite lower sales revenue due to pricing actions and manufacturing efficiency improvements[5] - The Forged and Cast Engineered Products segment reported net sales of $66.460 million in Q4 2024, down 12.2% from $75.757 million in Q4 2023[27] - The Air and Liquid Processing segment saw an increase in net sales to $34.476 million in Q4 2024, up 6.6% from $32.351 million in Q4 2023[27] Cash Flow and Expenditures - Cash flows from operating activities for the full year 2024 were $18.0 million, an increase of $21.7 million compared to 2023[10] - Capital expenditures for 2024 were approximately $12.2 million, which is $8.2 million less than in 2023, primarily due to the completion of a plant modernization program[10] Asbestos Liability - The Corporation recorded a net credit of $4.2 million related to asbestos liability revaluation in 2024, contrasting with a $40.7 million charge in 2023[5][8] - The company experienced a significant reduction in asbestos-related costs, with a net charge of $(4,184) thousand in Q4 2024 compared to a charge of $40,887 thousand in Q4 2023[25] Debt and Financing - Interest expense increased due to higher equipment financing debt and interest rates, but total debt remained flat compared to the previous year[6] Strategic Considerations - The Corporation is exploring options to mitigate losses in underutilized cast roll operations, particularly in the U.K. where operating losses exceed $5 million annually[4][5]