Group 1 - The Conservative Income Portfolio aims to target value stocks with high margins of safety while reducing volatility through well-priced options, generating yields of 7-9% [1][3] - The Covered Calls Portfolio focuses on lower volatility income investing with an emphasis on capital preservation, while the fixed income portfolio seeks securities with high income potential and significant undervaluation [2][3] - Trapping Value consists of a team of analysts with over 40 years of combined experience in generating options income and capital preservation, managing the Conservative Income Portfolio in collaboration with Preferred Stock Trader [3]

Company Overview - Allied Properties focuses its real estate portfolio in city centers within Canada, owning office and multi-use assets in tier one areas of Toronto, Montreal, Vancouver, and Calgary [1]. Urban Planning and Market Dynamics - The nature of Canada's urban planning results in density intensification, which may impact the real estate market positively by increasing demand for urban properties [1].

Financial Data and Key Metrics Changes - Ampco-Pittsburgh reported operating income of $1.9 million for Q3 2024, slightly higher than the prior year quarter, which included a $0.2 million insurance recovery [7][24] - Consolidated net sales for Q3 2024 were $96.2 million, a decline of 5.9% compared to Q3 2023, primarily due to lower shipment volumes and lower surcharge pass-through revenues [23] - Net loss for Q3 2024 was $2 million or $0.10 per diluted share, compared to net income of $0.8 million or $0.04 per diluted share for Q3 2023 [30] Business Line Data and Key Metrics Changes - Air & Liquid segment revenue was consistent with the prior year for Q3, while year-to-date revenue increased by 13% due to increased shipments of custom air handling units [9] - Forged and Cast Engineered Products segment net sales were $67.2 million for Q3 2024, down from $73.6 million in the same period last year, primarily due to lower rural volumes and reduced shipments [17] - Segment income from operations for Forged and Cast Engineered Products increased to $2.5 million compared to $1.4 million in Q3 2023, reflecting improved pricing and efficiencies [18] Market Data and Key Metrics Changes - Total backlog at September 30, 2024, was $383.6 million, an increase of approximately $4.6 million from December 31, 2023, primarily in the Forged and Cast Engineered Products segment [32] - The rural market in North America and Europe remained flat due to end customer demand, with ongoing headwinds related to competitive pressures and economic uncertainties [20][21] Company Strategy and Development Direction - The company is focused on lowering its debt position and restructuring actions to improve shareholder returns, with targeted actions for further restructuring [38][58] - Investments in capital equipment are contributing to improved operational efficiencies and positioning the company for future growth [19][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth prospects in the Air & Liquid segment, particularly due to increased demand from the pharmaceutical market and potential opportunities in the nuclear sector [15][14] - The company anticipates low to mid-single-digit volume growth in the Forged and Cast Engineered Products segment for 2025, driven by improved demand and operational efficiencies [19][48] Other Important Information - Capital expenditures for Q3 2024 were $2.9 million, with expectations for full-year 2024 CapEx in the range of $9 million to $10 million [34] - The company has received additional funding from the U.S. Navy to modernize production equipment, which is expected to enhance manufacturing capabilities [11][12] Q&A Session Summary Question: Long-term visibility and restructuring plans - Management indicated that they have targeted actions for restructuring and are focused on lowering the debt position, with expectations to execute significant solutions within the next 12 to 24 months [36][38] Question: Impact of fracking on Forged and Engineered products - Management noted that the fracking business and general industrial distribution markets are significant factors affecting revenues, with stable orders expected to increase next year [40] Question: Cash flow dynamics year-to-date - Management confirmed a release of working capital contributing to positive cash flow from operating activities, despite pension contributions affecting the total [46][47] Question: Production capacity for heat exchangers in the nuclear market - Management stated that production capacity constraints are minimal, and they can ramp up production as needed for the nuclear market [43] Question: Onshoring trends and market share - Management confirmed that onshoring has already benefited the company, with increased market share among U.S. customers over the past 18 months [56]

Financial Performance - Total net sales for the three months ended September 30, 2024, were $96,166,000, a decrease of 5.1% compared to $102,218,000 for the same period in 2023[7]. - Net loss attributable to Ampco-Pittsburgh for the three months ended September 30, 2024, was $(1,959,000), compared to a net income of $809,000 for the same period in 2023[7]. - Operating costs and expenses for the three months ended September 30, 2024, totaled $94,296,000, down from $100,496,000 for the same period in 2023, a decrease of 6.2%[7]. - The company reported a net loss of $1,454 thousand for the three months ended September 30, 2024, compared to a net income of $1,235 thousand for the same period in 2023[9]. - Comprehensive income for the three months ended September 30, 2024, was $3,845 thousand, down from $1,124 thousand in the same period of 2023, indicating a decrease of approximately 242%[11]. - Total net sales for the nine months ended September 30, 2024, were $317,369 thousand, slightly up from $314,232 thousand in the previous year, reflecting a 1.0% increase[7]. - The total loss before income taxes for the three months ended September 30, 2024, was $(818) thousand, compared to income of $1,311 thousand for the same period in 2023[79]. Cash and Liquidity - Cash and cash equivalents increased to $11,844,000 as of September 30, 2024, from $7,286,000 as of December 31, 2023, representing a 62.5% increase[4]. - Net cash flows provided by operating activities for the nine months ended September 30, 2024, were $10,576 thousand, compared to $10,327 thousand for the same period in 2023, reflecting an increase of 2.4%[14]. - Cash flows used in investing activities totaled $6,657 thousand for the nine months ended September 30, 2024, down from $13,515 thousand in 2023, indicating a decrease of 50.7%[14]. - The total cash and cash equivalents at the end of the period increased to $11,844 thousand as of September 30, 2024, compared to $6,070 thousand at the end of September 30, 2023, representing an increase of 95.5%[14]. Assets and Liabilities - Total current assets rose to $238,707,000 as of September 30, 2024, compared to $236,653,000 as of December 31, 2023, reflecting a slight increase of 0.9%[4]. - Total liabilities decreased to $473,737,000 as of September 30, 2024, down from $494,083,000 as of December 31, 2023, indicating a reduction of 4.1%[4]. - The company reported a decrease in accounts payable to $29,772,000 as of September 30, 2024, from $36,830,000 as of December 31, 2023, a decline of 19.1%[4]. - The retained deficit increased to $(75,661,000) as of September 30, 2024, compared to $(72,997,000) as of December 31, 2023[4]. - Total shareholders' equity rose to $73,676,000 as of September 30, 2024, compared to $71,571,000 as of December 31, 2023, an increase of 2.9%[4]. Segment Performance - Net sales for Forged and Cast Engineered Products were $67,203 thousand for the three months ended September 30, 2024, compared to $73,625 thousand for the same period in 2023, representing a decrease of approximately 8.5%[79]. - The Air and Liquid Processing segment reported net sales of $28,963 thousand for the three months ended September 30, 2024, an increase of approximately 3.0% from $28,593 thousand in the same period of 2023[79]. - Forged and Cast Engineered Products segment reported income before income taxes of $2,456 thousand for the three months ended September 30, 2024, up from $1,448 thousand in the same period of 2023, an increase of approximately 69.5%[79]. - Air and Liquid Processing segment reported income before income taxes of $3,134 thousand for the three months ended September 30, 2024, down from $3,456 thousand in the same period of 2023, a decrease of about 9.3%[79]. Claims and Legal Matters - The Corporation is involved in various claims and lawsuits, including asbestos litigation, which may impact future financial performance[56]. - Total claims pending at the end of the period increased to 6,324 in 2024 from 6,291 in 2023, reflecting a rise of approximately 0.5%[60]. - New claims served decreased to 950 in 2024 from 984 in 2023, a decline of about 3.5%[60]. - Gross settlement and defense costs paid increased to $18,610, up from $16,221 in 2023, representing an increase of approximately 14.7%[60]. - The estimated Asbestos Liability at the end of the period was $220,069 in 2024, up from $137,354 in 2023, reflecting an increase of approximately 60%[65]. - Insurance receivable for asbestos at the end of the period was $146,404 in 2024, compared to $96,393 in 2023, an increase of approximately 52%[66]. Pension and Benefits - Contributions to U.S. defined benefit pension plans amounted to $4,641 for the nine months ended September 30, 2024, compared to $207 for the same period in 2023[35]. - The Corporation's net periodic pension and other postretirement benefit costs included a service cost of $22 for the nine months ended September 30, 2024, down from $29 for the same period in 2023[36]. - The Corporation's interest cost for U.S. defined benefit pension plans was $6,988 for the nine months ended September 30, 2024, down from $7,450 for the same period in 2023[36]. Other Financial Metrics - The average interest rate on the revolving credit facility was approximately 8.26% for the three months ended September 30, 2024, compared to 8.32% for the same period in 2023[29]. - The Corporation's long-term debt stood at $116,010 million as of September 30, 2024, slightly down from $116,382 million on December 31, 2023[27]. - The Corporation was in compliance with all applicable bank covenants as of September 30, 2024[29]. - The Corporation has two Industrial Revenue Bonds (IRBs) outstanding: a $7,116 taxable IRB maturing in 2027 with an average interest rate of 5.40% for the nine months ended September 30, 2024, and a $2,075 tax-exempt IRB maturing in 2029 with an average interest rate of 3.80% for the same period[33].

Financial Performance - Operating income for Q3 2024 was $1.9 million, with year-to-date operating income at $7.0 million, reflecting improved margins in the Forged and Cast Engineered Products segment[1]. - Net sales for Q3 2024 were $96.2 million, a decrease of 5.9% compared to $102.2 million in Q3 2023, primarily due to lower shipment volumes and lower surcharge pass-through revenues[2]. - Year-to-date net sales increased to $317.4 million, up 1.0% from $314.2 million in the same period last year, driven by growth in the Air and Liquid Processing segment[2]. - Income from operations for Q3 2024 improved slightly to $1.9 million compared to $1.7 million in Q3 2023, despite including a $0.2 million recovery from an insolvent insurance carrier in the prior year[3]. - The net loss for Q3 2024 was $(2.0) million, or $(0.10) per diluted share, compared to net income of $0.8 million, or $0.04 per diluted share, in Q3 2023[6]. - Net loss attributable to Ampco-Pittsburgh for the three months ended September 30, 2024, was $(1,959), compared to net income of $809 in the same period of 2023[15]. - Basic net loss per share attributable to Ampco-Pittsburgh common shareholders was $(0.10) for the three months ended September 30, 2024, compared to earnings of $0.04 in the same period of 2023[15]. Segment Performance - Sales for the Forged and Cast Engineered Products segment declined due to lower shipment volumes, although improved base pricing partially offset this decline[7]. - The Air and Liquid Processing segment saw improved sales for the nine months ended September 30, 2024, primarily due to increased shipments from an expanded sales distribution network[9]. - Operating results for the Air and Liquid Processing segment declined due to an unfavorable product mix and higher selling and administrative expenses[10]. - Income from operations for the Forged and Cast Engineered Products segment increased to $2,456 for the three months ended September 30, 2024, from $1,448 in the same period of 2023[16]. - Net sales for the Forged and Cast Engineered Products segment decreased to $67,203 for the three months ended September 30, 2024, from $73,625 in the same period of 2023, representing a decline of 8.5%[17]. - The Air and Liquid Processing segment reported net sales of $28,963 for the three months ended September 30, 2024, a slight increase from $28,593 in the same period of 2023[17]. Costs and Expenses - Total operating costs and expenses for the three months ended September 30, 2024, were $94,296, down from $100,496 in the same period of 2023[15]. - Interest expense increased to $(2,976) for the three months ended September 30, 2024, compared to $(2,468) in the same period of 2023[15]. - The company experienced increased interest expenses due to higher equipment financing debt and average interest rates[4]. - Total other expense — net for the three months ended September 30, 2024, was $(2,688), compared to $(411) in the same period of 2023[15]. Tax and Valuation - The income tax provision increased due to the establishment of a valuation allowance on net deferred tax assets in the U.K. operations, reflecting a three-year cumulative loss history[5]. Shareholder Information - The weighted-average number of common shares outstanding for the three months ended September 30, 2024, was 19,980, compared to 19,729 in the same period of 2023[15].

Core Viewpoint - CalciMedica Inc. is set to present the full data set and win ratio analysis from its Phase 2b CARPO trial of Auxora™ for acute pancreatitis with systemic inflammatory response syndrome on October 30, 2024 [1] Group 1: Company Overview - CalciMedica is a clinical-stage biopharmaceutical company focused on developing novel CRAC channel inhibition therapies for inflammatory and immunologic diseases [3] - The company's lead product candidate, Auxora™, has shown positive clinical results in multiple completed efficacy trials [3] - CalciMedica has completed a Phase 2 trial (CARDEA) in patients with COVID pneumonia and is conducting a Phase 2 trial (KOURAGE) in patients with acute kidney injury [3] Group 2: Upcoming Event Details - A conference call and webcast will be held on October 30, 2024, at 12 p.m. ET/9 a.m. PT to discuss the CARPO trial results [1] - The event will feature a plenary presentation by Prof. Robert Sutton from the University of Liverpool [1] - Interested parties can access the live webcast through CalciMedica's investor relations website [1][2]

Group 1 - Eric is part of the investment team at RBC Insurance, focusing on real assets, financials, and insurance [1] - He holds a Master's degree in Financial Economics from the University of Western Ontario and has completed all three levels of the CFA program [1] - Currently, Eric is gaining the necessary work experience to obtain the CFA charter [1]

Group 1 - Allied Properties REIT has several tailwinds supporting the stock, contributing to a solid distribution of over 9% and potential for stock price appreciation [1] - The focus of the investment strategy is on undercovered and unappreciated Canadian dividend stocks, which are excellent companies at solid values that pay dividends [1] - The article reflects the author's personal opinions and indicates a beneficial long position in the shares of AP.UN:CA through various means [1]

Ampco-Pittsburgh Corporation (NYSE:AP) Q2 2024 Earnings Conference Call August 13, 2024 10:30 AM ET Company Participants Kim Knox - Corporate Secretary Brett McBrayer - CEO Sam Lyon - President, Forged & Cast Engineered Products David Anderson - President, Air & Liquid Systems Corporation Mike McAuley - SVP and CFO Conference Call Participants David Wright - Henry Investment Trust John Bair - Ascend Wealth Advisors Operator Good morning everyone and welcome to the Ampco-Pittsburgh Corporation Second Quarter ...

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 August 12, 2024 Ampco-Pittsburgh Corporation (NYSE: AP) Announces Second Quarter 2024 Results • Strong sequential earnings improvement delivered at top end of previous guidance range. • Q2 2024 operating income up 53% over prior-year period led by Forged and Cast Engineered Products segment improvement. • Air and Liquid Processing segme ...