earnings
confidence high
sentiment negative
materiality 0.60
Ampco-Pittsburgh reports Q3 2021 net sales up 7% to $81.2M but operating loss of $2.4M
AMPCO PITTSBURGH CORP
2021-Q3 EPS reported
-$0.02
revenue$260,413,000
- Net sales $81.2M (+7% YoY); 9-month sales $260.4M (+8% YoY).
- Operating loss of $2.4M vs income of $0.2M in Q3 2020; basic loss per share $0.08.
- Forged and Cast backlog up 16% sequentially; price increases being implemented.
- Management cites inflationary cost pressures and under-recovery as primary cause of loss.
- Planned maintenance outages impacted production; capital improvement plan on track.