secwatch.observer — SEC 8-K summary
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Issuer:     AMPCO PITTSBURGH CORP (AP)
CIK:        0000006176
Form:       8-K
Filed at:   2023-03-20T23:59:59+00:00
Accession:  0000950170-23-008787
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6176/000095017023008787/0000950170-23-008787-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6176/000095017023008787/ap-20230320.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-008787

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer