Ampco-Pittsburgh Corp Down 13.04% To $2.40 After Earnings

Ampco-Pittsburgh Corp (AP) said after close Monday that it lost $0.12 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $108.1 million in revenue

In the same quarter a year ago, the company lost $0.02 per share on revenue of $93.5 million.

The stock is down 13.04% to $2.40 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Ampco-Pittsburgh Corp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 18.

Ampco-Pittsburgh Corp is a US-based company engaged in manufacturing and selling of engineered, specialty metal products and customized equipment. It operates in two business segments namely the Forged and Cast Engineered Products segment and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment produces forged hardened steel rolls, cast rolls, and open-die forged products. Forged hardened steel rolls are used in cold rolling mills by producers of steel, aluminum, and other metals whereas, the Air and Liquid Processing segment includes Aerofin, Buffalo Air Handling and Buffalo Pumps. The company generates a majority of its revenue from the Forged and Cast Engineered Products segment. It has a business presence in the US and other countries.