Ampco-Pittsburgh Q1 2022 net income $1.6M, sales up 9%, backlog up 36%

AMPCO PITTSBURGH CORP

2022-Q1 EPS reported $0.08 revenue$94,426,000

Net income $1.6M ($0.08 diluted EPS) vs $0.2M ($0.01) a year ago.
Net sales $94.4M, +9% YoY, driven by Forged & Cast segment pricing and surcharges.
Backlog grew 36% vs prior year and 12% vs prior quarter.
Implemented price increases and expanded surcharge coverage for raw materials, energy, transportation.
Supply chain issues impacted Air & Liquid Processing segment sales.

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