Ampco-Pittsburgh Q3 2022 EPS $0.04 vs -$0.08 YoY; sales up 22.7%

AMPCO PITTSBURGH CORP

2022-Q3 EPS reported $0.15 revenue$296,655,000

Net sales of $99.6M (Q3 2022) vs $81.2M (Q3 2021); nine-month sales $296.7M vs $260.4M.
Net income $0.8M ($0.04 diluted EPS) vs net loss $1.6M (-$0.08 diluted EPS) in prior-year Q3.
Air & Liquid Processing segment posted record-high backlog; segment sales grew on higher heat-exchange coil and air handling shipments.
Forged and Cast segment improved on higher selling prices, surcharges, and roll shipments; European energy headwinds partially offset.
Liquidity strengthened via sale-leaseback and equipment financing executed during quarter.

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 1.0

AMPCO PITTSBURGH CORP reported three and nine months ended September 30, 2022 results: revenue Net sales of $99.6 million (Q3) and $296.7 million (9 months), net income Net income of $0.8 million (Q3) and $2.9 million (9 months), EPS Diluted EPS of $0.04 (Q3) and $0.15 (9 months).

Period: three and nine months ended September 30, 2022
Revenue: Net sales of $99.6 million (Q3) and $296.7 million (9 months)
Net income: Net income of $0.8 million (Q3) and $2.9 million (9 months)
EPS: Diluted EPS of $0.04 (Q3) and $0.15 (9 months)
Result: reported results

Exact text from the filing

Ampco-Pittsburgh Corporation (NYSE: AP) (the “Corporation” or “Ampco-Pittsburgh”) reported net sales of $99.6 million and $296.7 million, respectively, for the three and nine months ended September 30, 2022, compared to $81.2 million and $260.4 million for the three and nine months ended September 30, 2021, respectively. The increase is primarily attributable to higher selling prices and variable-index surcharges in the Forged and Cast Engineered products and a higher level of shipments in both segments, offset in part by unfavorable foreign exchange translation. Net income was $0.8 million, or $0.04 per diluted share, and $2.9 million, or $0.15 per diluted share, for the three and nine months ended September 30, 2022, respectively.

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Source: SEC EDGAR

accession 0001193125-22-284723

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