Ampco-Pittsburgh Corporation $(AP)$ has reported its financial results for the first quarter ended March 31, 2025. The company announced a net income of $1.1 million, a notable improvement compared to a net loss of $2.7 million in the same period last year. Earnings per share increased to $0.06, up from a loss of $0.14 per share in the previous year. The company recorded net sales of $104.3 million for the quarter, a decrease from $110.2 million in the first quarter of 2024. Despite the decline in sales, income from operations increased significantly to $3.9 million from $0.1 million in the prior year. Adjusted EBITDA also rose to $8.8 million, compared to $5.1 million for the same period in 2024. Ampco-Pittsburgh's CEO, Brett McBrayer, highlighted the positive start to the year, attributing improvements to both segments of the business. The Forged and Cast Engineered Products segment and the Air and Liquid Processing segment both experienced a favorable mix of products sold and higher pricing. The company also noted record-high order intake in the Air and Liquid segment, driven by market strength in the nuclear, military, and pharmaceutical sectors. The company is addressing potential impacts from recent tariffs and is nearing the end of its collective consultation process at its UK facility, which is expected to mitigate losses for that business.
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