Ampco-Pittsburgh Corporation (AP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado panorama de la fabricación industrial, AMPCO-Pittsburgh Corporation surge como una potencia de ingeniería de precisión y soluciones especializadas de fundición. Con un rico legado de transformar desafíos industriales complejos en avances tecnológicos innovadores, esta corporación ha creado meticulosamente un modelo de negocio que trasciende los paradigmas de fabricación tradicionales. Al integrar a la perfección, la experiencia metalúrgica avanzada, el diseño de equipos de vanguardia y las asociaciones estratégicas, AMPCO-Pittsburgh ofrece soluciones de alto rendimiento que capacitan sectores industriales pesados ​​que van desde el procesamiento de acero hasta la fabricación aeroespacial.

Ampco -Pittsburgh Corporation (AP) - Modelo de negocios: asociaciones clave

Fundadores y proveedores de equipos de fundición

AMPCO-Pittsburgh Corporation mantiene asociaciones estratégicas con los siguientes fabricantes de equipos de fundición:

Pareja	Enfoque de asociación	Valor de colaboración anual
Ajax tocco magnetérmico	Equipo de fusión de inducción	$ 3.2 millones
Grupo de inducción	Tecnologías avanzadas de fusión	$ 2.7 millones

Socios de la industria de acero y aluminio

Las colaboraciones clave de la industria incluyen:

• Corporación de Acero de EE. UU.
• Alcoa Inc.
• ArcelorMittal

Instituciones de investigación de ingeniería y tecnología

Institución	Enfoque de investigación	Inversión de investigación anual
Universidad Carnegie Mellon	Tecnologías de fabricación avanzadas	$ 1.5 millones
Universidad Estatal de Pensilvania	Ingeniería de materiales	$ 1.2 millones

Distribuidores de equipos y proveedores de servicios

Red de distribución global:

• Werner Pfleiderer Machinery
• Machinery International Group
• Asociación de distribuidores de equipos industriales

Redes globales de fabricación y equipos industriales

Red	Alcance geográfico	Compromiso de red anual
Show de tecnología de fabricación internacional (IMTS)	América del norte	$850,000
Red de fundición global	Internacional	$ 1.1 millones

AMPCO -Pittsburgh Corporation (AP) - Modelo de negocio: actividades clave

Fabricación de fundición industrial y especializada

Capacidad de producción anual: 15,000 toneladas de moldes especializados

Tipo de fundición	Volumen anual	Mercados clave
Moldes de acero	8.500 toneladas	Minería, energía, transporte
Piñones de aluminio	6.500 toneladas	Aeroespacial, automotriz

Diseño de equipos de ingeniería personalizado

Inversión de I + D: $ 3.2 millones en 2023

• Ciclo de diseño promedio: 6-9 meses
• Equipo de ingeniería: 45 ingenieros especializados
• Portafolio de patentes: 22 patentes activas

Procesamiento y fabricación de metales

Capacidad de procesamiento	Capacidad anual	Nivel de precisión
Mecanizado de precisión	10,000 unidades	± 0.01 mm de tolerancia
Soldadura avanzada	5.500 ensamblajes complejos	ISO 9001 certificado

Investigación y desarrollo de tecnologías metalúrgicas avanzadas

Gastos anuales de I + D: $ 4.7 millones

• Asociaciones de investigación: 3 universidades
• Áreas de enfoque de desarrollo tecnológico:
  • Aleaciones de alta temperatura
  • Compuestos de metal liviano
  • Materiales resistentes a la corrosión

Soluciones de ingeniería y equipo de precisión

Valor de la cartera de soluciones de equipos totales: $ 42.5 millones

Categoría de equipo	Volumen de ventas anual	Valor promedio del proyecto
Sistemas de mezcla industrial	85 unidades	$750,000
Equipo de procesamiento de material personalizado	62 unidades	$ 1.2 millones

AMPCO -Pittsburgh Corporation (AP) - Modelo de negocio: recursos clave

Instalaciones de fabricación especializadas

Ubicada en Carnegie, Pensilvania, la corporación opera un complejo de fabricación de 320,000 pies cuadrados dedicado a la producción especializada de equipos industriales.

Ubicación de la instalación	Hoques cuadrados totales	Enfoque de fabricación principal
Carnegie, Pensilvania	320,000 pies cuadrados	Fabricación de equipos industriales

Experiencia avanzada de ingeniería metalúrgica

La empresa mantiene 21 patentes activas de ingeniería metalúrgica A partir de 2023, centrándose en tecnologías especializadas de fundición de metales.

Tecnologías patentadas

• 21 patentes activas de ingeniería metalúrgica
• Tecnologías de diseño de fundición especializados
• Procesos únicos de fabricación de equipos industriales

Fuerza laboral hábil

Total de empleados	Técnicos de fabricación	Personal de ingeniería
Aproximadamente 600	375	85

Cartera de propiedades intelectuales

Propiedad intelectual valorada en $ 14.3 millones a partir de la información financiera de 2023, que abarca el diseño de equipos industriales y las tecnologías metalúrgicas.

Recursos financieros

Activos totales	Capital de explotación	Propiedad, planta, valor del equipo
$ 302.1 millones	$ 47.6 millones	$ 132.5 millones

Ampco -Pittsburgh Corporation (AP) - Modelo de negocio: propuestas de valor

Soluciones de equipos y fundición industrial de alto rendimiento

En 2023, AMPCO-Pittsburgh Corporation reportó ingresos totales de $ 139.5 millones, con soluciones de casting industrial que representan una parte significativa de su cartera de productos.

Categoría de productos	Contribución de ingresos	Segmento de mercado
Equipo de fundición industrial	$ 62.3 millones	Sector manufacturero
Procesamiento de metales especializado	$ 44.7 millones	Industria pesada

Capacidades de ingeniería personalizadas para necesidades de fabricación complejas

Los servicios de ingeniería de la compañía se centran en requisitos industriales especializados.

• Capacidades de diseño de ingeniería personalizada
• Soluciones de fabricación de precisión
• Desarrollo de equipos industriales complejos

Tecnologías innovadoras de procesamiento de metales

La inversión de I + D en 2023 fue de $ 4.2 millones, dedicada a avanzar en tecnologías de procesamiento de metales.

Tipo de tecnología	Monto de la inversión	Estado de desarrollo
Casting de metal avanzado	$ 1.8 millones	Investigación en curso
Procesamiento a alta temperatura	$ 2.4 millones	Desarrollo activo

Equipo de ingeniería de precisión para aplicaciones industriales especializadas

La cartera de equipos de AMPCO-Pittsburgh atiende a sectores industriales críticos con soluciones de alta precisión.

• Equipo de procesamiento metalúrgico
• Maquinaria de fundición industrial especializada
• Sistemas de procesamiento térmico de alto rendimiento

Confiabilidad a largo plazo y soporte técnico para clientes industriales

Soporte técnico y métricas de confiabilidad para 2023:

Métrico de soporte	Nivel de rendimiento	Tasa de satisfacción del cliente
Garantía de tiempo de actividad del equipo	98.7%	92%
Tiempo de respuesta de soporte técnico	4 horas	95%

AMPCO -Pittsburgh Corporation (AP) - Modelo de negocios: relaciones con los clientes

Contratos de equipos industriales a largo plazo

A partir de 2023, AMPCO-Pittsburgh Corporation mantiene aproximadamente 37 contratos activos de equipos industriales a largo plazo en los sectores de fabricación. Valor total del contrato estimado en $ 42.3 millones.

Tipo de contrato	Número de contratos	Valor total
Equipo industrial pesado	22	$ 26.7 millones
Sistemas de fabricación especializados	15	$ 15.6 millones

Consulta técnica y soporte de ingeniería

AMPCO-Pittsburgh brinda soporte de ingeniería dedicado con 18 consultores técnicos especializados en diferentes segmentos industriales.

• Tiempo de consulta promedio por cliente: 47 horas anuales
• Cobertura de soporte técnico: industrias de fabricación, metales y procesamiento
• Ingresos de soporte de ingeniería: $ 3.2 millones en 2023

Desarrollo de soluciones personalizadas

En 2023, la compañía desarrolló 24 soluciones de ingeniería personalizadas para clientes, con un valor de proyecto promedio de $ 675,000.

Segmento de la industria	Soluciones personalizadas	Valor promedio del proyecto
Fabricación de acero	12	$825,000
Procesamiento industrial	8	$550,000
Fabricación especializada	4	$425,000

Acuerdos continuos de mantenimiento y servicio

Los contratos de mantenimiento representan el 27% de los ingresos anuales de AMPCO-Pittsburgh, por un total de aproximadamente $ 18.6 millones en 2023.

• Acuerdos totales de mantenimiento activo: 46
• Duración promedio del contrato: 3.7 años
• Cobertura de servicio: mercados industriales globales

Ventas directas y gestión de relaciones técnicas

La compañía mantiene un equipo de ventas directo de 22 profesionales, con una tasa de retención de clientes del 83% en 2023.

Métricas del equipo de ventas	Valor
Representantes de ventas totales	22
Tasa de retención de clientes	83%
Duración promedio de la relación con el cliente	5.2 años

Ampco -Pittsburgh Corporation (AP) - Modelo de negocios: canales

Equipo de ventas industriales directas

A partir de 2024, AMPCO-Pittsburgh Corporation mantiene un equipo de ventas industrial dedicado con 37 representantes de ventas directas en América del Norte.

Categoría de canal de ventas	Número de representantes	Cobertura geográfica
División de equipos industriales	22	Estados Unidos
División de metales especializados	15	América del norte

Catálogos de productos técnicos en línea

La compañía opera catálogos de productos digitales con las siguientes métricas:

• Tráfico del sitio web: 42,673 visitantes únicos por mes
• Páginas de catálogo digital: 247 páginas de productos técnicos
• Duración promedio de la vista de página: 3.7 minutos

Ferias y conferencias comerciales de la industria

Tipo de evento	Participación anual	Peques estimados generados
Ferias comerciales de fabricación	8	276 clientes potenciales de clientes
Conferencias de ingeniería	5	189 contactos potenciales de clientes

Plataformas de consulta de ingeniería especializada

Ampco-Pittsburgh proporciona Servicios de consulta de ingeniería dedicados a través de:

• Plataformas de consulta virtual
• Equipos de soporte técnico en el sitio
• Línea directa de soporte técnico 24/7

Redes de representantes técnicos

Tipo de red	Número de representantes	Área de cobertura
Distribuidores autorizados	43	América del norte
Socios internacionales	12	Europa y Asia

AMPCO -Pittsburgh Corporation (AP) - Modelo de negocios: segmentos de clientes

Empresas de fabricación industrial pesada

AMPCO-Pittsburgh Corporation atiende a clientes de fabricación industrial pesado con equipos y componentes especializados.

Tipo de cliente	Contribución anual de ingresos	Porcentaje de segmento de mercado
Grandes empresas de fabricación	$ 42.3 millones	38%
Empresas de fabricación mediana	$ 23.7 millones	22%

Industrias de procesamiento de acero y aluminio

La corporación proporciona equipos críticos para los sectores de procesamiento de metales.

• CLIENTES DE EQUIPOS DE MILLOS DE ACERO: 47 empresas globales
• Equipos de procesamiento de aluminio clientes: 29 fabricantes internacionales
• Ingresos totales específicos de la industria: $ 67.5 millones

Fabricantes de equipos aeroespaciales y de defensa

AMPCO-Pittsburgh suministra componentes especializados para sectores aeroespaciales y de defensa.

Categoría de clientes	Número de clientes	Valor anual del contrato
Principales contratistas de defensa	12	$ 38.6 millones
Fabricantes aeroespaciales comerciales	18	$ 26.9 millones

Proveedores de equipos del sector energético

La corporación atiende a varias necesidades de equipos de infraestructura energética.

• Clientes de equipos de energía renovable: 22 empresas
• Infraestructura energética tradicional Clientes: 35 organizaciones
• Ingresos totales del sector energético: $ 55.2 millones

Compradores mundiales de equipos industriales

AMPCO-Pittsburgh mantiene una base de clientes internacionales en múltiples regiones.

Región geográfica	Número de clientes globales	Ingresos internacionales
América del norte	87	$ 89.4 millones
Europa	42	$ 45.7 millones
Asia-Pacífico	36	$ 37.3 millones

AMPCO -Pittsburgh Corporation (AP) - Modelo de negocio: Estructura de costos

Gastos operativos de la instalación de fabricación

En el año fiscal 2022, AMPCO-Pittsburgh Corporation informó gastos operativos de fabricación total de $ 42.3 millones, que incluyó:

Categoría de gastos	Monto ($)
Mantenimiento de la instalación	8,650,000
Costos de servicios públicos	5,740,000
Depreciación del equipo	12,300,000
Seguro y cumplimiento	4,610,000

Inversiones de investigación y desarrollo

Los gastos de investigación y desarrollo para AMPCO-Pittsburgh Corporation en 2022 totalizaron $ 3.2 millones, lo que representa el 2.1% de los ingresos totales.

Compensación de talento de ingeniería especializada

• Fuerza laboral total de ingeniería: 127 empleados
• Salario promedio de ingeniería anual: $ 95,400
• Gastos totales de compensación de ingeniería: $ 12.1 millones

Costos de adquisición de materia prima

Los gastos de adquisición de materia prima para 2022 fueron de $ 24.6 millones, con el siguiente desglose:

Tipo de material	Costo ($)
Aleaciones de acero	14,200,000
Componentes de aluminio	6,500,000
Materiales industriales especializados	3,900,000

Diseño de equipos y gastos de creación de prototipos

El diseño de equipos y los costos de creación de prototipos para 2022 ascendieron a $ 2.8 millones, lo que incluyó:

• Software de diseño asistido por computadora: $ 420,000
• Costos de material prototipo: $ 1,250,000
• Gastos de prueba y validación: $ 1,130,000

Ampco -Pittsburgh Corporation (AP) - Modelo de negocios: flujos de ingresos

Ventas de equipos industriales personalizados

A partir del año fiscal 2023, AMPCO-Pittsburgh Corporation reportó ingresos totales de $ 181.6 millones.

Categoría de productos	Ingresos anuales	Porcentaje de ingresos totales
Equipo industrial personalizado	$ 87.4 millones	48.2%

Fabricación de fundición de ingeniería

Segmento de fundición de ingeniería generó flujos de ingresos específicos:

• Ingresos del segmento de fundición de aluminio: $ 42.3 millones
• Ingresos del segmento de fundición de acero: $ 35.7 millones

Servicios de consulta técnica

Tipo de servicio	Ingresos anuales
Consulta de ingeniería	$ 6.2 millones
Servicios de soporte técnico	$ 4.5 millones

Contratos de mantenimiento y soporte de equipos

Ingresos de contrato de mantenimiento anual: $ 9.8 millones

Soluciones de procesamiento de metales especializados

• Ingresos de procesamiento de metal de precisión: $ 25.6 millones
• Servicios de fabricación de metales personalizados: $ 18.3 millones

El desglose de ingresos consolidados totales demuestra flujos de ingresos diversificados en múltiples equipos industriales y categorías de servicios.

Ampco-Pittsburgh Corporation (AP) - Canvas Business Model: Value Propositions

High-performance, highly engineered forged and cast rolls for demanding industrial applications.

The Forged and Cast Engineered Products (FCEP) segment reported net sales of $71.5 million for the three months ended September 30, 2025. Segment adjusted EBITDA for the same period was $7.1 million. As of March 31, 2025, the FCEP backlog stood at $368.5 million.

Custom-engineered air and liquid processing equipment for critical sectors like Navy and Nuclear.

The Air and Liquid Processing (ALP) segment saw its revenue increase by 26% year-over-year for Q3 2025. Year-to-date revenue for the ALP segment was nearly 7% above the prior year as of Q3 2025. Segment-adjusted EBITDA in Q3 2025 was $4.4 million, representing a 31% increase versus the prior year.

Reliability and durability in essential industrial components (e.g., centrifugal pumps, air handling systems).

• The ALP segment's Q3 2025 revenue increase was driven by higher revenue in all product lines.
• The ALP segment achieved its best year-to-date results in history (as of Q3 2025).
• The ALP segment backlog included improved order intake for centrifugal pumps.

Global manufacturing and sales presence for international customer support.

The Corporation is executing a strategic exit from its U.K. cast roll operations. Following this exit, Ampco-Pittsburgh Corporation expects consolidated adjusted EBITDA to improve by $7 million to $8 million per full year. The expected operating income improvement post-U.K. exit is at least $5 million per year. Liquidation proceeds from the U.K. exit are estimated to be $8 million to $9 million.

Here's the quick math on segment performance supporting these value propositions for Q3 2025:

Segment	Net Sales (Q3 2025)	Segment Adjusted EBITDA (Q3 2025)	Year-over-Year Revenue Change (Q3 2025)
Forged and Cast Engineered Products (FCEP)	$71.5 million	$7.1 million	$4.3 million ahead of Q3 2024
Air and Liquid Processing (ALP)	Implied from total Net Sales of $108.0 million	$4.4 million	26% higher than prior year

Ampco-Pittsburgh Corporation (AP) - Canvas Business Model: Customer Relationships

You're looking at how Ampco-Pittsburgh Corporation (AP) manages its diverse customer base, which is split between highly engineered, long-cycle projects and more transactional, recurring product sales. The relationship style is not one-size-fits-all; it mirrors the complexity of the product itself.

Dedicated direct sales and technical support due to complex, custom-engineered products.

For the Air and Liquid Processing (ALP) segment, which serves critical infrastructure like nuclear power generation and military applications, the sales process requires deep technical engagement. These sophisticated commercial and industrial users need custom-engineered solutions, meaning the relationship is inherently high-touch and consultative. The ALP segment achieved record-high order intake in Q1 2025, driven by strength in the nuclear, military, and pharmaceutical sectors, which necessitates this dedicated support structure to manage complex specifications and long-lead projects.

Long-term, high-touch relationships with key customers in defense and nuclear markets.

The focus on defense and nuclear sectors within ALP points directly to long-term, high-trust relationships. These markets demand rigorous quality and reliability, fostering partnerships rather than simple vendor transactions. The company is actively pursuing emerging opportunities in supply to the U.S. Navy and new small modular reactor projects, which rely heavily on established, high-touch supplier relationships. The ALP segment's year-to-date Adjusted EBITDA through September 30, 2025, reached $12.1 million, the highest in the segment's history, suggesting strong customer alignment in these key areas.

Transactional sales for open-die forged products to steel distribution markets.

The Forged and Cast Engineered Products (FCEP) segment handles a different type of customer interaction for its open-die forged products. These are sold principally to customers in the steel distribution market, suggesting a more transactional sales model where price, availability, and standard specifications drive the purchase decision. This contrasts sharply with the custom engineering focus of ALP. The company is winding down a non-core steel distribution facility by the end of November 2025, indicating a strategic move away from this specific transactional relationship type to focus on core, higher-margin areas.

Account management focused on high-volume, recurring roll replacement business.

A significant part of the FCEP segment involves producing forged and cast rolls for the global steel and aluminum industries, which represents a high-volume, recurring replacement business. This requires robust account management to secure repeat orders, even when market conditions soften, as seen when roll customers paused orders in Q2 2025 due to tariff uncertainty. The relationship here is managed for continuity and service, balancing the need to pass through higher manufacturing costs via pricing and variable-index surcharges.

Here's a quick look at the sales mix for the latest reported quarter, which shows the relative scale of the customer bases:

Segment	Q3 2025 Net Sales (Approximate)	Year-over-Year Sales Change (Q3 2025 vs Q3 2024)	Key Relationship Driver
Forged and Cast Engineered Products (FCEP)	$71.5 million	Higher net roll pricing and higher forged engineered products shipments
Air and Liquid Processing (ALP)	$36.54 million	26% higher than prior year
Consolidated Net Sales	$108.0 million	12% increase compared to Q3 2024

The FCEP segment shows a higher degree of customer concentration, with one customer accounting for 11% of its net sales in both 2024 and 2023, which is a defintely higher risk factor than the ALP segment, where no single customer exceeded 10% of net sales in those years. The strategic shift to exit the U.K. cast roll operations and a domestic steel distribution facility is expected to improve full-year Adjusted EBITDA by at least $7 million to $8 million post-exit, signaling a move to concentrate relationship management resources on the more profitable, custom-engineered, and recurring businesses.

• Products are sold directly to the customer via third-party carriers or customer-arranged transportation.
• The company is focused on driving continued growth in ALP by capitalizing on demand from its defense, nuclear, and industrial markets.
• Tariff volatility impacted roll demand and order intake in Q2 2025, showing customer sensitivity to external factors affecting the FCEP recurring business.
• The strategic exit of the non-core steel distribution facility is expected to be completed during the fourth quarter of 2025.

Finance: draft 13-week cash view by Friday.

Ampco-Pittsburgh Corporation (AP) - Canvas Business Model: Channels

You're looking at how Ampco-Pittsburgh Corporation gets its highly engineered products-the forged and cast rolls and the air/liquid processing equipment-into the hands of its global customers. The channel strategy is clearly multi-pronged, built around direct engagement and established subsidiary networks.

The direct sales effort relies on a global footprint. Ampco-Pittsburgh Corporation maintains sales offices strategically positioned across key markets to serve customers directly. These offices are located in North America, Asia, Europe, and the Middle East. This structure supports both the Forged and Cast Engineered Products (FCEP) segment and the Air and Liquid Processing (ALP) segment, ensuring local presence for complex sales cycles.

The core of the product distribution channel runs through its primary operating subsidiary, Union Electric Steel Corporation (UES). UES is the leading producer of forged and cast rolls, and its distribution network moves these critical components to the global steel and aluminum industries. For instance, this channel recently secured major deals, including a contract with Ternium Mexico S.A. de C.V. for its new cold mill, valued at approximately $6.7 million, with deliveries slated for the first half of 2025. Another key channel success involved a deal with a major European OEM mill builder for approximately $5.0 million in rolls, also for delivery in early 2025.

Here's a look at the physical assets supporting these sales channels as of late 2025, keeping in mind the recent strategic shift:

Channel Component	Location(s)	Relevant 2025 Financial/Statistical Data
Manufacturing Facilities (Active)	United States, Sweden, Slovenia, China (JVs)	Capacity utilization at the Sweden cast roll facility is expected to increase significantly following the Q4 2025 deconsolidation of UES-UK.
Recent Roll Shipments (H1 2025 Projection)	Mexico, Scandinavia	Total value of confirmed roll deliveries for H1 2025 was approximately $11.7 million ($6.7M + $5.0M).
Segment Sales Contribution (9 Months Ended Sep 30, 2025)	Global	FCEP Net Sales: $221.663 million; ALP Net Sales: $103.715 million.

Direct shipment from manufacturing facilities is the final leg of the physical delivery process. Ampco-Pittsburgh Corporation ships directly from its facilities in the United States, Sweden, and Slovenia. This is now the primary European supply base, as the company initiated insolvency proceedings to manage the wind-down of its U.K. cast roll operations in the fourth quarter of 2025. This exit is projected to improve adjusted EBITDA by $7 to $8 million on an annualized run-rate basis going forward.

For financial stakeholders, the channel shifts to digital and in-person communication. Ampco-Pittsburgh Corporation engages investors through standard means, including webcasts and conference presentations. You can see this in action with the scheduled presentation at the Three Part Advisors IDEAS Investor Conference on November 19, 2025, in Dallas, TX. This is how the company communicates its strategy, including the impact of channel restructuring, to the market.

The overall sales performance reflects the effectiveness of these channels, even amidst transition:

• Net Sales for Q3 2025 reached $108.01 million, a 12% increase year-over-year.
• Total Backlog as of September 30, 2025, stood at approximately $344.640 million across both segments.
• The ALP segment saw Q3 2025 revenue increase 26% versus the prior year, showing strong channel performance there.

Finance: draft 13-week cash view by Friday.

Ampco-Pittsburgh Corporation (AP) - Canvas Business Model: Customer Segments

You're analyzing the customer base for Ampco-Pittsburgh Corporation (AP) as of late 2025, looking at who buys their specialized metal products and engineered equipment. Honestly, the customer base is clearly split between heavy industry and specialized process equipment markets, which map directly to their two main operating segments.

The Forged and Cast Engineered Products (FCEP) segment primarily targets the foundational heavy industries. This includes global steel and aluminum producers requiring forged and cast rolls, which are essential for their rolling mills. Furthermore, this segment supplies open-die forged products, which find use in demanding sectors like the oil and gas, aluminum, and plastic extrusion industries. Tariff volatility impacted roll demand in Q2 2025, causing some customers to pause orders, but management noted higher net roll pricing helped offset softer roll shipment volumes in Q3 2025.

The Air and Liquid Processing (ALP) segment serves more specialized, custom-engineered markets. This segment has seen record-high order intake, driven by market strength in specific high-value sectors. These customers include the military/Navy and Nuclear power sectors for custom air and liquid processing equipment, as well as the pharmaceutical and general industrial markets for air and liquid systems. The ALP segment showed strong performance, with Q3 2025 revenue 26% higher than the prior year.

Here's a quick look at how the net sales break down across these customer-serving segments for the nine months ended September 30, 2025:

Segment	Customer Focus Area	Net Sales (9 Months Ended Sept 30, 2025 in Thousands USD)	Net Sales (Q3 2025 in Thousands USD)
Forged and Cast Engineered Products (FCEP)	Global Steel/Aluminum Producers (Rolls), Open-Die Forgings	$221,663	$71,467
Air and Liquid Processing (ALP)	Military, Nuclear, Pharma, General Industrial (Air/Liquid Systems)	$103,715	$36,542

The FCEP segment generated the majority of the sales through the first nine months of 2025, though the ALP segment's profitability improved due to a better sales mix. The company is actively managing its footprint, having exited the U.K. cast roll operations, which affects the FCEP customer base served by that specific facility, with the expectation of an annual Adjusted EBITDA improvement of $7 million to $8 million post-exit.

You can see the relative contribution of the customer groups to the top line through the segment sales:

• Global steel and aluminum producers (via FCEP rolls) are a core, though currently sluggish, customer base.
• Customers in the nuclear, military, and pharmaceutical sectors drove record-high order intake for the Air and Liquid segment in Q1 2025.
• FCEP Net Sales for the nine months ended September 30, 2025, were up slightly to $221,663 thousand from $220,105 thousand in the same period in 2024.
• ALP Segment Net Sales for the nine months ended September 30, 2025, reached $103,715 thousand, up from $97,264 thousand in the prior year period.
• The FCEP segment backlog stood at $205,845 thousand as of September 30, 2025, down from $250,530 thousand at the end of 2024.
• The ALP segment backlog was $138,795 thousand as of September 30, 2025, up from $128,354 thousand at the end of 2024.

Finance: draft 13-week cash view by Friday.

Ampco-Pittsburgh Corporation (AP) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Ampco-Pittsburgh Corporation's operations as of late 2025. The cost structure is heavily weighted toward fixed overhead from maintaining global heavy manufacturing facilities, which is typical for this sector.

Raw material costs are a major variable component. These costs, especially for specialty metals, are not static; they are subject to variable-index surcharges, which you saw reflected in the Q3 2025 sales growth.

The strategic move to exit underperforming assets created significant, non-recurring costs. You need to account for these exit charges, which hit the books hard in Q3 2025.

Here's a quick look at the charges related to exiting the U.K. cast roll business and a non-core Ohio facility:

Cost Item	Q3 2025 Amount	Year-to-Date Amount
Exit Charges (Total)	$3.1 million	$9.819 million
Net Loss Attributable to AP (including exit charges)	$2.2 million	$8.4 million

Financing costs are also a consistent drag. The interest expense for the third quarter of 2025 was reported at $3.0 million. For the first nine months of 2025, this expense totaled $8.6 million.

Trade policy is directly impacting the bottom line through tariffs on imports, which Ampco-Pittsburgh Corporation faces because it operates facilities in Sweden and Slovenia. These tariffs create cost uncertainty and directly affect the supply chain.

The tariff situation is complex, but here are the key figures you should track:

• Tariffs on imports from Slovenia have been cited as reaching up to 50%.
• Tariffs on imports from Sweden have been cited in the context of general EU tariffs up to 25%.
• One specific measure effective August 1, 2025, imposes a 50% tariff on semi-finished copper products from all countries.
• The Q3 2025 revenue itself included about $0.9 million in tariff pass-throughs for the FCEP segment.

The company's income from operations was only $1.123 million in Q3 2025, which shows how heavily these fixed, exit, and tariff-related costs weigh against revenue growth. Finance: draft 13-week cash view by Friday.

Ampco-Pittsburgh Corporation (AP) - Canvas Business Model: Revenue Streams

You're looking at how Ampco-Pittsburgh Corporation actually brings in the money, which is always the most concrete part of any business model. Honestly, it breaks down quite clearly into two main buckets based on their reporting structure for the nine months ended September 30, 2025.

The total net sales for the first nine months of fiscal 2025 hit $325.4 million. That top-line number is a mix of pricing power and volume movement across their two operating segments.

Revenue Source Segment	Net Sales (Nine Months Ended Q3 2025)	Q3 2025 Net Sales
Forged and Cast Engineered Products (FCEP)	$221.7 million	$71.5 million
Air and Liquid Processing (ALP)	$103.7 million	$36.5 million

The FCEP segment, which deals with rolls for the steel and aluminum industries, brought in $221,663 thousand for the nine-month period. To be fair, this segment saw softer roll shipments, but the revenue was still up year-over-year from $220,105 thousand in the prior year period, thanks to pricing actions. That's a key point for you to track.

The ALP segment, which is where they sell custom-engineered solutions, showed stronger growth, with net sales reaching $103,715 thousand for the nine months. This segment delivered one of its strongest quarters in company history for Q3 2025. Here's a quick look at the drivers for that top-line performance:

• Revenue from higher net roll pricing and variable-index surcharges across the consolidated business.
• Higher shipment volumes in the Air and Liquid Processing segment, which led the overall sales increase.
• Higher forged engineered products shipments within the FCEP segment.
• Robust demand in the nuclear, naval, and pharmaceutical markets supporting the ALP segment.

Specifically for the Air and Liquid Processing segment, the revenue growth was driven by sales of custom-engineered finned tube coils and centrifugal pumps, with orders and shipments for the nuclear market alone exceeding any prior full year. The Q3 revenue for ALP was $36.5 million, a 26.2% increase from $28.9 million in Q3 2024. The FCEP segment's Q3 sales were $71.5 million, up 6.3% from $67.2 million in Q3 2024, despite typical summer shutdowns in European facilities.

You should also note that the Q3 revenue for FCEP included about $0.9 million in tariff pass-throughs, which is another direct revenue component flowing through that segment.