AMPCO PITTSBURGH CORP Q1 FY2025 earnings call

• Ampco-Pittsburgh reported earnings per common share of $0.06 for Q1 2025, an improvement of $0.20 from prior year. Adjusted EBITDA was $8.8 million, up from $5.1 million in Q1 2024.
• Record order intake for Air and Liquid Systems, and continuing benefits from new equipment in U.S. forage business.
• Nearing conclusion of collective consultation process at UK facility, expecting to eliminate losses there.
• Monitored evolving tariff environment, with U.S. tariffs on rolls from European facilities to U.S. and reduced tariffs on U.S. produced rolls to China.

Forged and Cast Engineered Products segment: Net sales for Q1 2025 were $72.3 million, down from $77.2 million in Q1 2024, primarily due to lower rural volume and unfavorable exchange rates, but partially offset by higher base pricing and increased shipments. Segment EBITDA improved to $8.27 million from $6 million in the prior year quarter. Air & Liquid Systems segment: Q1 sales orders were the highest in history, driven by nuclear, military, and pharmaceutical markets. Revenue was slightly below prior year but product mix improved. Adjusted EBITDA was $3.8 million vs $2.2 million in Q1 2024.

• Expect near-term impacts in Q2 from tariffs, intent to pass through margin effects to customers.
• Collective consultation process at UK cast facility expected to conclude by end of May, providing clarity on operations and actions to stem losses.
• Potential for increased demand if tariffs lead to manufacturing onshoring in U.S., benefiting product demand.

• Tariff impacts on roll shipments from European to U.S. and potential short-term supply chain issues.
• Soft global steel demand in key markets like North America and Europe.
• Uncertainties from the ongoing collective consultation process at UK facility.

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