Ampco-Pittsburgh Reports $7.3 Million Net Loss in Q2 2025 Amid Operational Challenges

Ampco-Pittsburgh Corporation reported a net loss of $7.3 million, or $0.36 per share, for the three months ended June 30, 2025, compared to a net income of $2.0 million, or $0.10 per share, for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $6.2 million, or $0.31 per share, down from a loss of $0.7 million, or $0.04 per share, in the prior year. Total net sales for the second quarter of 2025 were $113.1 million, a slight increase from $111.0 million in the same quarter of 2024. However, sales for the first half of 2025 decreased to $217.4 million from $221.2 million in 2024, reflecting a decline of $3.8 million.

The company experienced significant operational challenges, particularly in its Forged and Cast Engineered Products (FCEP) segment, which reported a loss of $3.9 million for the second quarter, down from a profit of $5.4 million in the same period last year. This decline was attributed to a $6.8 million charge related to the exit of its U.K. operations, which included severance costs and accelerated depreciation. The Air and Liquid Processing (ALP) segment, however, showed improved performance with an operating income of $3.9 million, up from $3.2 million in the previous year, driven by increased market share and steady demand.

In terms of operational metrics, the company’s backlog decreased to $351.3 million as of June 30, 2025, down from $378.9 million at the end of 2024. The FCEP segment's backlog fell significantly due to reduced demand and customer order deferrals, while the ALP segment saw an increase in backlog, particularly in centrifugal pumps and air handling systems. The company’s total assets increased slightly to $537.2 million from $530.9 million at the end of 2024, with cash and cash equivalents decreasing to $9.9 million from $15.4 million.

Strategically, Ampco-Pittsburgh is focusing on restructuring its U.K. operations, which are expected to cease foundry operations by the end of 2025. The company is also implementing price increases to mitigate rising production costs due to inflation and tariffs on raw materials. The management anticipates that these strategic decisions will help stabilize operations and improve profitability in the long term. Looking ahead, the company remains cautious about market conditions, including the impact of geopolitical events and economic fluctuations, which could affect demand for its products and overall financial performance.