Ampco-Pittsburgh Reports Strong Demand in Air and Liquid Processing Segment, Despite Challenging Steel Market
Ampco-Pittsburgh, a leading manufacturer of air and liquid processing equipment, reported strong demand in its Air and Liquid segment during the fourth quarter of 2025, despite a challenging steel market. The company's CEO, Brett McBrayer, highlighted the segment's record revenue and income for the year.
According to David Anderson, Chief Financial Officer and President of the Air and Liquid segment, Q4 revenue was 10% higher than prior year, while full-year revenue was 7% above prior year. Adjusted EBITDA in Q4 was $3.3 million versus $3.7 million in the prior year, a decrease driven by unfavorable product mix.
However, the company's Air and Liquid segment achieved its highest adjusted EBITDA ever in 2025, at $15.4 million, a 21% increase over the previous year. This performance was despite a decline in backlog of $8 million due to the U.S. Navy's decision to terminate production of the Constellation-class frigate program.
Despite this setback, Ampco-Pittsburgh reported significant order activity at the start of 2026, with bookings up 73% compared to prior year. Order activity in the first two months of 2026 for the U.S. Navy market was over $9 million, more than replacing the orders lost due to the Constellation-class frigate program termination.
The company's Air and Liquid segment continues to see positive activity across multiple markets and product lines, including record orders and shipments in the nuclear market. The manufacturing equipment installed by the Navy has already increased capacity for pump products, with more expansion in process.
Ampco-Pittsburgh's CEO, Brett McBrayer, stated that the company expects these actions to improve adjusted EBITDA by $7-$8 million annually as they emerge from the slowdown in the steel market. The company is poised for growth in 2026, with strong demand expected to continue in multiple markets.
The transcript highlights the company's focus on emerging from the challenging steel market and capitalizing on opportunities in the Air and Liquid segment. With a strong track record of revenue and income growth, Ampco-Pittsburgh appears well-positioned for continued success in 2026 and beyond."
