Ampco-Pittsburgh (AP) Reports Q2 Loss of $0.24, Revenues Beat

Ampco-Pittsburgh (NYSE: AP) reported Q2 EPS of ($0.24), versus $0.09 reported last year. Revenue for the quarter came in at $127.4 million versus the consensus estimate of $116 million.

Commenting on the quarter’s results, Brett McBrayer, Ampco-Pittsburgh’s Chief Executive Officer said, “As we navigate Ampco-Pittsburgh through this challenging period, I am thoroughly evaluating the current state of our commercial relationships and plant operations. Additionally, we face new headwinds. The tariffs imposed by the U.S. on imported steel products from Canada are having a significant negative impact on our Canadian subsidiary, ASW. We are also seeing a lower frac block order intake due to what we believe to be inventory adjustments in the supply chain. We are moving to mitigate these headwinds through a number of actions, several of which are already in progress.”

For earnings history and earnings-related data on Ampco-Pittsburgh (AP) click here.

You May Also Be Interested In

• BofA sees Micron EPS topping $230 by FY30, calls peak fears overblown
• The LGL Group (LGL) Misses Q2 EPS by 8c
• Motorsport Games Inc. (MSGM) Tops Q2 EPS by 33c