Ampco-Pittsburgh Q4 EPS $(2.12) Down From $(0.02) YoY, Sales $108.11M Up From $93.53M YoY
Portfolio Pulse from Benzinga Newsdesk
Ampco-Pittsburgh (NYSE:AP) reported a significant increase in its Q4 losses to $(2.12) per share from $(0.02) YoY, despite a 15.58% increase in sales to $108.11M from $93.53M YoY. The net loss includes a substantial after-tax impact from the Asbestos-Related Charge.
March 25, 2024 | 8:36 pm
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NEGATIVE IMPACT
Ampco-Pittsburgh's Q4 earnings report shows a drastic increase in losses and a moderate increase in sales, impacted by an Asbestos-Related Charge.
The significant increase in losses, primarily due to the Asbestos-Related Charge, is likely to negatively impact investor sentiment and the stock price in the short term. The increase in sales indicates some operational positives, but the overshadowing losses could lead to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100