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 June 30, 2023 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.) 726 Bell Avenue, Suite ...

Ampco-Pittsburgh Corporation (NYSE:AP) Q1 2023 Earnings Conference Call May 16, 2023 10:30 AM ET Company Participants Kim Knox - Corporate Secretary Brett McBrayer - CEO David Anderson - President of Air & Liquid Systems Corporation Sam Lyon - President of Union Electric Steel Corporation Mike McAuley - CFO Conference Call Participants Justin Bergner - Gabelli Funds David Wright - Henry Investment Trust Operator Welcome to the Ampco-Pittsburgh Corporation First Quarter 2023 Earnings Results Conference Ca ...

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, 2023 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.) 726 Bell Avenue, Suite ...

Ampco-Pittsburgh Corporation (NYSE:AP) Q4 2022 Earnings Conference Call March 21, 2023 10:30 AM ET Company Participants Kim Knox - Corporate Secretary Michael McAuley - Senior VP, CFO and Treasurer Brett McBrayer - CEO and Director Dave Anderson - President of Air & Liquid Systems Corporation Sam Lyon - President of Union Electric Steel Corporation Conference Call Participants David Wright - Henry Investment Trust Dennis Scannel - Rutabaga Capital Management Operator Welcome to the Ampco-Pittsburgh Corporat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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.) 726 Bell Avenue, Suite 301 ...

Ampco-Pittsburgh Corporation (NYSE:AP) Q3 2022 Results Conference Call November 15, 2022 10:30 AM ET Company Participants Michael McAuley - Senior VP, CFO and Treasurer Brett McBrayer - CEO and Director Dave Anderson - President of Air and Liquid Systems Corporation Sam Lyon - President of Union Electric Steel Corporation Conference Call Participants Justin Bergner - Gabelli Funds David Wright - Henry Investment Trust Operator Good day and welcome to the Ampco-Pittsburgh Corporation Third Quarter 2022 Earni ...

Ampco-Pittsburgh Corporation (NYSE:AP) Q2 2022 Earnings Conference Call August 11, 2022 10:30 AM ET Company Participants Michael McAuley - Chief Financial Officer Brett McBrayer - Chief Executive Officer Dave Anderson - President, Air & Liquid Systems Corporation Sam Lyon - President, Union Electric Steel Corporation Conference Call Participants David Wright - Henry Investment Trust Justin Bergner - Gabelli Funds Operator Welcome to the Ampco-Pittsburgh Corporation Second Quarter 2022 Earnings Results Confe ...

[Part I – Financial Information](index=3&type=section&id=Part%20I%20%E2%80%93%20Financial%20Information) This section presents the unaudited financial statements, management's discussion, market risk disclosures, and internal controls [Item 1 – Financial Statements (Unaudited)](index=3&type=section&id=Item%201%20%E2%80%93%20Financial%20Statements%20(Unaudited)) The unaudited consolidated financial statements for June 30, 2022, show increased assets and liabilities, with varied net sales and income results [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$501.8 million** while total liabilities rose to **$418.1 million**, leading to a decrease in shareholders' equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $215,320 | $188,297 | | **Total assets** | $501,771 | $485,632 | | **Total current liabilities** | $128,760 | $125,042 | | **Long-term debt** | $75,791 | $40,912 | | **Total liabilities** | $418,113 | $393,826 | | **Total shareholders' equity** | $83,658 | $91,806 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2022 net sales increased to **$102.6 million**, but operating income turned to a loss, while six-month net income improved Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | 6 Months 2022 | 6 Months 2021 | | :--- | :--- | :--- | :--- | :--- | | **Total net sales** | $102,582 | $92,428 | $197,008 | $179,228 | | **(Loss) income from operations** | $(320) | $469 | $923 | $1,376 | | **Net income attributable to Ampco-Pittsburgh** | $403 | $1,063 | $2,048 | $1,230 | | **Diluted EPS** | $0.02 | $0.05 | $0.11 | $0.06 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities significantly increased to **$23.0 million**, primarily funded by increased financing activities Cash Flow Summary - Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(23,033) | $(2,754) | | **Net cash used in investing activities** | $(6,725) | $(6,536) | | **Net cash provided by financing activities** | $27,500 | $5,842 | | **Net decrease in cash** | $(2,965) | $(3,529) | | **Cash at end of period** | $7,372 | $13,313 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail business segments, accounting policies, and significant financial components, including increased debt and asbestos litigation liabilities - The company operates in two segments: Forged and Cast Engineered Products (FCEP) and Air and Liquid Processing (ALP), facing ongoing disruptions from global conflicts and the pandemic[22](index=22&type=chunk) - Borrowings under the revolving credit facility significantly increased to **$57.7 million** at June 30, 2022, from **$29.7 million** at year-end 2021[36](index=36&type=chunk)[38](index=38&type=chunk) Asbestos Liability and Insurance Receivable (in thousands) | Account | June 30, 2022 | | :--- | :--- | | Asbestos liability, end of period | $171,710 | | Insurance receivable – asbestos, end of period | $116,727 | - The company plans a significant capital program of approximately **$27 million** over the next 15 months for its FCEP locations, with **$23 million** in commitments outstanding as of June 30, 2022[45](index=45&type=chunk) [Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202%20%E2%80%93%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses post-pandemic recovery, persistent inflation, increased net sales driven by FCEP, declining operating income, and significant backlog growth [Executive Overview and Business Conditions](index=23&type=section&id=Executive%20Overview%20and%20Business%20Conditions) The company observes market recovery in FCEP segments but faces significant cost inflation, mitigated by price increases and surcharges - FCEP segment's roll market has recovered to pre-pandemic levels, with strengthening demand in the FEP market from steel distribution and oil & gas sectors[91](index=91&type=chunk) - Both segments are experiencing significant cost inflation in materials, energy, and transportation, with price increases and surcharges implemented to offset these costs, albeit with a time lag[91](index=91&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Consolidated net sales increased, driven by FCEP, but operating income declined due to cost pressures, while backlog grew significantly Financial Performance Summary (in thousands) | Metric | Q2 2022 | Q2 2021 | 6 Months 2022 | 6 Months 2021 | | :--- | :--- | :--- | :--- | :--- | | **Consolidated Net Sales** | $102,582 | $92,428 | $197,008 | $179,228 | | **Consolidated (Loss) Income from Operations** | $(320) | $469 | $923 | $1,376 | - Consolidated backlog grew significantly to **$348.8 million** at June 30, 2022, an increase of **$56.2 million** from December 31, 2021[93](index=93&type=chunk)[94](index=94&type=chunk) - Costs of products sold as a percentage of sales increased to **85.3%** in Q2 2022 from **81.6%** in Q2 2021, primarily due to higher material, energy, and transportation costs in the FCEP segment[95](index=95&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) The company used **$23.0 million** in operating cash for working capital, funded by increased borrowings, and plans a **$27 million** capital program - Net cash used in operating activities was **$23.0 million** for the first six months of 2022, mainly due to investment in trade working capital[114](index=114&type=chunk) - The company plans a significant capital program of approximately **$27 million** over the next 15 months for its FCEP locations and is exploring long-term financing options[115](index=115&type=chunk)[118](index=118&type=chunk) - As of June 30, 2022, remaining availability under the revolving credit facility was approximately **$24.4 million**[117](index=117&type=chunk) [Item 3 – Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203%20%E2%80%93%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is marked as "Not applicable," indicating no new material disclosures regarding market risk for the period - The report states this section is not applicable[119](index=119&type=chunk) [Item 4 – Controls and Procedures](index=29&type=section&id=Item%204%20%E2%80%93%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal controls - Management concluded that the Corporation's disclosure controls and procedures were effective as of June 30, 2022[120](index=120&type=chunk) - No material changes to the internal control over financial reporting were identified during the last fiscal quarter[121](index=121&type=chunk) [Part II – Other Information](index=30&type=section&id=Part%20II%20%E2%80%93%20Other%20Information) This section covers legal proceedings, risk factors, and a list of exhibits filed with the Form 10-Q [Item 1 – Legal Proceedings](index=30&type=section&id=Item%201%20%E2%80%93%20Legal%20Proceedings) This section incorporates by reference information on ongoing asbestos-related litigation from the financial statement notes - The report refers to Note 15 of the financial statements for information on legal proceedings, which focuses on asbestos litigation[123](index=123&type=chunk) [Item 1A – Risk Factors](index=30&type=section&id=Item%201A%20%E2%80%93%20Risk%20Factors) There are no material changes to the risk factors previously disclosed in the company's latest Annual Report on Form 10-K - There are no material changes to the risk factors from the company's latest Annual Report on Form 10-K[124](index=124&type=chunk) [Item 6 – Exhibits](index=30&type=section&id=Item%206%20%E2%80%93%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents and required certifications - Lists filed exhibits, including Sarbanes-Oxley certifications and an amendment to the Revolving Credit and Security Agreement[125](index=125&type=chunk) [Signatures](index=31&type=section&id=Signatures) The report was duly signed and authorized on August 9, 2022, by the CEO and CFO - The report was duly signed and authorized on August 9, 2022, by J. Brett McBrayer (CEO) and Michael G. McAuley (CFO)[127](index=127&type=chunk)[128](index=128&type=chunk)