Ampco-Pittsburgh 2025 Q3 Earnings Wider Loss Despite Revenue Growth

Ampco-Pittsburgh (AP) reported mixed results for fiscal 2025 Q3, with revenue rising 12.3% to $108.01 million but net losses widening. The company reiterated strategic exits of non-core operations and expressed optimism about long-term profitability amid trade policy clarity.

Revenue

Ampco-Pittsburgh’s total revenue climbed 12.3% year-over-year to $108.01 million in Q3 2025, driven by robust performance across its segments. Forged and Cast Engineered Products led with $71.47 million in revenue, while Air and Liquid Processing contributed an additional $36.54 million. Corporate costs remained flat at $0, and Total Reportable Segments aligned with the overall revenue figure.

Earnings/Net Income

The company’s losses deepened to $0.11 per share in Q3 2025, a 10.0% wider loss compared to $0.10 per share in the prior year. Net loss expanded to $1.66 million, representing a 13.8% increase from $1.45 million in 2024 Q3. Despite the headline loss, the Air and Liquid Processing segment’s 35% year-over-year Adjusted EBITDA growth to $9.2 million highlighted operational resilience.

Post-Earnings Price Action Review

Ampco-Pittsburgh’s stock price declined sharply post-earnings, dropping 6.83% during the latest trading day and 1.55% in the subsequent week. Month-to-date, shares fell 13.57%, reflecting investor skepticism about near-term profitability.

CEO Commentary

CEO Brett McBrayer emphasized strategic divestitures, including the completed exit from the U.K. cast roll facility and an impending steel distribution business exit by year-end. These moves are projected to deliver $7–8 million in annual Adjusted EBITDA improvements. McBrayer expressed confidence in long-term profitability, citing trade policy clarity and a restructured portfolio.

Guidance

The company anticipates significant earnings improvement post-exit of the U.K. and distribution businesses, with $7–8 million in annual Adjusted EBITDA gains expected. While no specific 2026 revenue or EPS guidance was provided, management remains optimistic about “sustainable elevated profitability” contingent on trade policy developments.

Additional News

1. C-Level Changes: David G. Anderson was promoted to VP, CFO, and Treasurer effective January 1, 2026, succeeding Michael G. McAuley, who will transition to a strategic advisor role until his retirement in June 2026. Anderson retains his role as president of Air and Liquid Systems Corporation.

2. Strategic Exits: The U.K. facility exit was finalized in mid-October 2025, with the steel distribution business expected to close by year-end. These moves align with the company’s focus on core operations and margin expansion.

3. Leadership Development: Ampco-Pittsburgh’s CEO highlighted the importance of cultivating internal leadership, mirroring broader industry trends in talent pipeline development.

Conclusion

Ampco-Pittsburgh’s Q3 results underscored a strategic shift toward operational efficiency and long-term profitability. While near-term losses persist, management’s focus on divesting non-core assets and leveraging trade policy tailwinds positions the company for potential recovery in 2026. Investors will closely watch the execution of exit strategies and their impact on Adjusted EBITDA.