Ampco-Pittsburgh reports full-year EPS $0.18, sales up 13%; backlog up 26%

AMPCO PITTSBURGH CORP

FY 2022 net income $3.4M ($0.18/diluted share) vs net loss $3.9M ($0.20 loss) in 2021.
Q4 2022 sales $93.5M (+11% YoY); full-year sales $390.2M (+13% YoY).
Backlog at Dec 31, 2022 up 26% vs prior year and 11% vs prior quarter.
Non-cash asbestos benefit of $2.2M pre-tax in Q4 2022 (vs $6.7M charge in Q4 2021).
Changed inventory method from LIFO to FIFO; cumulative retained deficit reduced by $11.5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

AMPCO PITTSBURGH CORP reported financial results for the three and twelve months ended December 31, 2022.

Period: the three and twelve months ended December 31, 2022
Result: reported results

Exact text from the filing

On March 20, 2023, Ampco-Pittsburgh Corporation issued a press release announcing its results for the three and twelve months ended December 31, 2022.

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Source: SEC EDGAR

accession 0000950170-23-008787

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