Ampco-Pittsburgh Corporation (AP) reported a net loss of $0.9 million, or 4 cents per share, for the first quarter of 2026, compared to a net income of $1.1 million or 6 cents per share in the same quarter last year. Despite this loss, the company saw a 3.9% year-over-year increase in net sales, reaching $108.3 million, driven primarily by demand in its Air and Liquid Processing (ALP) segment.
The company ended the quarter with a backlog of $345.5 million, up from $328.9 million at the end of 2025, supported by about $124 million in bookings. Although adjusted EBITDA decreased by 9.2% to $7.9 million, management remains optimistic about future performance, expecting an annual adjusted EBITDA improvement of $7 million to $8 million from restructuring actions.
Ampco-Pittsburgh’s liquidity position also improved, with cash and cash equivalents at $9.2 million and total liquidity of $30.8 million. The company aims to capitalize on improving market conditions and stronger order trends in the coming quarters, particularly in the ALP segment related to power generation and defense markets.
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