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Ampco-Pittsburgh (AP) investor relations material
Ampco-Pittsburgh Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2026 net sales rose 3.9% year-over-year to $108.3 million, driven by strong Air and Liquid Processing (ALP) growth, while Forged and Cast Engineered Products (FCEP) sales declined slightly.
Adjusted EBITDA was $8.0 million, down from $8.8 million, reflecting ramp-up costs in Sweden, weaker FCEP mix, and a deconsolidation charge from U.K. insolvency.
Net loss attributable to shareholders was $(0.9) million ($(0.04) per share), compared to net income of $1.1 million ($0.06 per share) in Q1 2025.
Backlog increased $16.6 million sequentially to $345.5 million, with record ALP orders and robust order activity.
U.S. Defined Benefit Pension Plan reached fully funded status, enabling a shift to a more conservative investment strategy.
Financial highlights
Q1 2026 net sales were $108.3 million, up 3.9% year-over-year, with ALP revenue up 17% to $37.5 million and FCEP sales down 2% to $70.8 million.
Adjusted EBITDA was $8.0 million, $0.8 million lower than prior year, with margin at 7.4%.
ALP segment achieved record adjusted EBITDA and operating income, with backlog up $23.5 million (19%) and orders 40% higher than any prior quarter.
FCEP segment adjusted EBITDA was $5.7 million, down from $8.3 million year-over-year, impacted by timing, mix, and higher inventory costs.
Operating cash flow improved to $1.7 million, up from a use of $5.3 million in Q1 2025.
Outlook and guidance
FCEP expects stronger performance for the rest of 2026, with improved demand, margins, and order books, supported by tariff normalization and market consolidation.
ALP anticipates sustained demand in power generation, defense, and data centers, with capacity expansions and pricing actions to offset inflation.
Annual adjusted EBITDA improvement of $7 million-$8 million is expected from actions taken in 2025, particularly from the closure of the U.K. facility.
Debt reduction of $8 million-$10 million is targeted for the remainder of 2026.
Approximately 18% of backlog is expected to ship after 2026.
- Business reset, market growth, and operational gains drive improved outlook and financials.AP
Sidoti Micro-Cap Virtual Investor Conference14 Apr 2026 - Director elections, executive pay, and auditor ratification up for vote at May 2026 meeting.AP
Proxy filing27 Mar 2026 - Board recommends electing two directors, approving executive pay, and ratifying BDO as auditor.AP
Proxy filing27 Mar 2026 - Asset exits and non-cash charges led to a GAAP net loss, but adjusted EBITDA improved.AP
Q4 202517 Mar 2026 - Q2 2025 loss driven by U.K. exit costs, with improved profitability expected post-exit.AP
Q2 20253 Feb 2026 - Q2 2024 net income rose to $2.01M on higher sales, led by Air and Liquid Processing growth.AP
Q2 20242 Feb 2026 - Q3 2024 delivered margin gains and backlog growth despite lower sales and a net loss.AP
Q3 202415 Jan 2026 - Q3 2025 delivered 35% EBITDA growth, strategic exits, and a robust outlook for further gains.AP
Q3 20259 Jan 2026 - Record segment sales and cash flow offset lower sales; U.K. plant losses remain a key risk.AP
Q4 202426 Dec 2025
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