Ampco-Pittsburgh Corp
NYSE:AP
Ampco-Pittsburgh Corp
Ampco-Pittsburgh Corp. engages in the manufacture and sale of custom designed engineering products. The company is headquartered in Carnegie, Pennsylvania and currently employs 1,485 full-time employees. The firm operates through two segments: the Forged and Cast Engineered Products (FCEP), and the Air and Liquid Processing. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (UES) and Union Electric Steel UK Limited (UES-UK). The Air and Liquid Processing segment includes Aerofin, Buffalo Air Handling and Buffalo Pumps, all divisions of Air & Liquid Systems Corporation (Air & Liquid), a wholly owned subsidiary of the Corporation. The Union Electric Steel Corporation produces forged hardened steel rolls and open die forged products. The Union Electric Steel UK Limited produces cast rolls for hot and cold strip mills, medium/heavy section mills and plate mills. The Aerofin division of Air & Liquid Systems Corporation produces custom-engineered finned tube heat exchange coils and heat transfer products.
Ampco-Pittsburgh Corp. engages in the manufacture and sale of custom designed engineering products. The company is headquartered in Carnegie, Pennsylvania and currently employs 1,485 full-time employees. The firm operates through two segments: the Forged and Cast Engineered Products (FCEP), and the Air and Liquid Processing. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (UES) and Union Electric Steel UK Limited (UES-UK). The Air and Liquid Processing segment includes Aerofin, Buffalo Air Handling and Buffalo Pumps, all divisions of Air & Liquid Systems Corporation (Air & Liquid), a wholly owned subsidiary of the Corporation. The Union Electric Steel Corporation produces forged hardened steel rolls and open die forged products. The Union Electric Steel UK Limited produces cast rolls for hot and cold strip mills, medium/heavy section mills and plate mills. The Aerofin division of Air & Liquid Systems Corporation produces custom-engineered finned tube heat exchange coils and heat transfer products.
Strong Quarter: Ampco-Pittsburgh reported its best quarter in years, with underlying financial performance and strategic actions driving results.
Adjusted EBITDA: Q3 adjusted EBITDA reached $9.2 million, up 35% from the prior year, and year-to-date adjusted EBITDA rose to $26 million.
Adjusted EPS: Adjusted earnings per share in Q3 were $0.04, up $0.14 from the prior year.
Strategic Exits: The company accelerated its exit from its loss-making U.K. facility and is winding down a small, unprofitable steel distribution business, moves expected to improve annual adjusted EBITDA by $7–8 million.
Segment Highlights: Air and Liquid segment posted record results, with Q3 revenue up 26% and strong growth in nuclear and Navy markets.
Tariffs: Tariff environment has created both challenges and opportunities; costs have largely been passed through to customers.
Sweden Plant: The Swedish plant will run at higher utilization in 2026 to offset the U.K. closure, improving profitability.
Leadership Change: David Anderson will become CFO in 2026, while continuing as President of Air and Liquid Processing.
