Ampco Pittsburgh Corp. Files Q3 2024 10-Q
Ticker: AP · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 6176
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**AMPCO PITTSBURGH CORP (AP) filed its Q3 2024 10-Q. Financials are in.**
AI Summary
Ampco Pittsburgh Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for the third quarter of 2024.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for Ampco Pittsburgh Corp., crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant performance changes or risks for the company.
Key Numbers
- Q3 2024 — Quarterly Period (The filing covers the third quarter of 2024.)
- 1231 — Fiscal Year End (The company's fiscal year ends on December 31st.)
Key Players & Entities
- AMPCO PITTSBURGH CORP (company) — Filer of the 10-Q
- 20240930 (date) — Reporting period end date
- 20241112 (date) — Filing date
- PA (location) — State of incorporation and business address
- 412-456-4400 (phone_number) — Business phone number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 12, 2024.
What is the primary business of Ampco Pittsburgh Corp. according to the SIC code?
According to the Standard Industrial Classification (SIC) code, Ampco Pittsburgh Corp. is in the 'PUMPS & PUMPING EQUIPMENT' industry, with code 3561.
Where is Ampco Pittsburgh Corp. headquartered?
Ampco Pittsburgh Corp.'s business address is located at 726 Bell Avenue, Suite 301, Carnegie, PA 15106.
What was the company's former name?
The company's former name was SCREW & BOLT CORP OF AMERICA, with a date of name change on May 18, 1971.
Filing Stats: 4,387 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-11-12 09:09:28
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value AP New York Stock Exchang
Filing Documents
- ap-20240930.htm (10-Q) — 2642KB
- ap-ex31_1.htm (EX-31.1) — 14KB
- ap-ex31_2.htm (EX-31.2) — 14KB
- ap-ex32_1.htm (EX-32.1) — 7KB
- ap-ex32_2.htm (EX-32.2) — 8KB
- img138174212_0.jpg (GRAPHIC) — 3KB
- 0000950170-24-124716.txt ( ) — 12031KB
- ap-20240930.xsd (EX-101.SCH) — 1540KB
- ap-20240930_htm.xml (XML) — 2582KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations – Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) – Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity – Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows – Nine Months Ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2 –
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3 –
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 32 Item 4 –
Controls and Procedures
Controls and Procedures 32 Part II – Other Information: Item 1 –
Legal Proceedings
Legal Proceedings 33 Item 1A –
Risk Factors
Risk Factors 33 Item 5 – Other Information 33 Item 6 – Exhibits 34
– FINANC IAL INFORMATION
PART I – FINANC IAL INFORMATION AMPCO-PITTSBURGH CORPORATION CONDENSED CONSOLIDAT ED BALANCE SHEETS (UNAUDITED) (in thousands, except par value) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 11,844 $ 7,286 Trade receivables, less allowance for credit losses of $ 903 as of September 30, 2024 and $ 975 as of December 31, 2023 74,727 78,939 Trade receivables from related parties 2,511 912 Inventories 120,856 124,694 Insurance receivable – asbestos 15,000 15,000 Contract assets 6,864 4,452 Other current assets 6,905 5,370 Total current assets 238,707 236,653 Property, plant and equipment, net 152,530 158,732 Operating lease right-of-use assets 4,839 4,767 Insurance receivable – asbestos, less allowance for credit losses of $ 708 as of September 30, 2024 and December 31, 2023 131,404 145,245 Deferred income tax assets 3,160 3,160 Intangible assets, net 4,682 4,947 Investments in joint ventures 2,175 2,175 Prepaid pensions 5,415 4,951 Other noncurrent assets 4,501 5,024 Total assets $ 547,413 $ 565,654 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 29,772 $ 36,830 Accounts payable to related parties 2,066 401 Accrued payrolls and employee benefits 15,805 14,703 Debt – current portion 14,268 12,271 Operating lease liabilities – current portion 979 946 Asbestos liability – current portion 24,000 24,000 Other current liabilities 32,849 27,734 Total current liabilities 119,739 116,885 Employee benefit obligations 33,240 41,684 Asbestos liability 196,069 214,679 Long-term debt 116,010 116,382 Noncurrent operating lease liabilities 3,860 3,822 Deferred income tax liabilities 400 543 Other noncurrent liabilities 4,419 88 Total liabilities 473,737 494,083 Commitments and contingent liab