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]
Ampco-Pittsburgh(AP) - 2025 Q1 - Earnings Call Transcript