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Ampco-Pittsburgh swings to Q3 profit

By Reuters News


Overview

  • US specialty metal products maker's Q3 net sales rose 3% year-over-year

  • Company returned to profit with Q3 net income of $0.5 mln, or $0.02 per share

  • Adjusted EBITDA up 2% as Air and Liquid Processing segment sales climbed 17%


Outlook

  • Company expects healthy demand across key markets to continue through 2026 and into 2027

  • Certain Forged and Cast Engineered Products activity previously anticipated in 2026 now extends into 2027

  • Company says backlog and order trends support a favorable outlook through 2026 and into 2027


Result Drivers

  • AIR AND LIQUID PROCESSING DEMAND - Segment sales rose 17% on continued demand from power generation, U.S. Navy programs and air handling markets

  • FORGED AND CAST ENGINEERED PRODUCTS EFFICIENCY - Improved manufacturing efficiency and ramp-up of Sweden facility drove higher adjusted operating income despite lower sales

  • WORKING CAPITAL MANAGEMENT - Strong cash flow and debt reduction attributed to disciplined working capital management, including lower accounts receivable and higher customer deposits


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

$111.7 mln

Q3 EPS

$0.02

Q3 Net Income

$0.5 mln


Reuters Recommended Reads

  • Nov 9 - Alta Equipment Group Q3 revenue misses analyst estimates despite construction growth

  • Nov 9 - Babcock & Wilcox Q3 revenue more than doubles driven by an increase in large project volume

  • Nov 9 - CECO Environmental Q3 revenue doubles after Thermon deal; raises orders forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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