- Ampco-Pittsburgh (NYSE:AP) on Wednesday said net sales for the quarter ended June 30, 2024, is expected to be in the range of $107 million to $112 million.
- This compares to net sales of $107.2 million in the quarter ended June 30, 2023, and $110.0 million in the quarter ended March 31, 2024.
- Income from operations for the quarter ended June 30, 2024, is expected to be in the range of $3.8 million to $4.8 million.
- AP -5.69% after hours to $1.16.
- Net income for Q2 is expected in the range of $1.1 to $2.1 million, or $0.05 to $0.10 per diluted share.
- As of July 9, 2024, the company’s liquidity position improved modestly compared to March 31, 2024, and included cash on hand of approximately $8.6 million and availability on its revolving credit facility of $27.2 million.
- “We experienced a full-quarter benefit of the new machinery in our U.S. forged operation in Q2. Although we are still experiencing excess capacity in our European cast roll business relative to demand, this is consistent with our experience the last few quarters,” said CEO Brett McBrayer.
- Source: Press Release
2024-07-10