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CARNEGIE, Pa. - Ampco-Pittsburgh Corporation (NYSE:AP), which has seen its stock surge over 108% in the past year according to InvestingPro data, announced Friday that its publicly traded Series A warrants (NYSE American:AP WS) will expire after 5:00 p.m., New York time, on August 1, 2025, after which they will no longer be exercisable.
The New York Stock Exchange has notified the company that trading of the warrants on the NYSE American will be suspended before the market opens on July 31, 2025. This suspension aims to ensure all trades in the warrants settle in time for purchasers to exercise them before the expiration deadline.
Ampco-Pittsburgh, a manufacturer of engineered specialty metal products and customized equipment, operates through its subsidiary Union Electric Steel Corporation, producing forged and cast rolls for the global steel and aluminum industries. The company also manufactures open-die forged products and air and liquid processing equipment.
The corporation maintains manufacturing facilities in the United States, England, Sweden, and Slovenia, with additional participation in three joint ventures located in China.
The announcement regarding the warrant expiration was made in accordance with the warrant agreement, according to the company’s press release statement.
Further information about the warrants is available on Ampco-Pittsburgh’s corporate website under the Investors section.
In other recent news, Ampco-Pittsburgh Corporation reported its Q1 2025 earnings, exceeding expectations with an earnings per share (EPS) of $0.06, marking an improvement of $0.20 from the previous year. The company’s revenue for the quarter was $104.3 million, despite a 5% decline year-over-year. Notably, the company achieved a net income of $1.1 million compared to a net loss of $2.7 million in the same quarter last year, supported by an increase in adjusted EBITDA to $8.8 million from $5.1 million in Q1 2024. Ampco-Pittsburgh’s performance was bolstered by strong demand in the nuclear and military segments, with a total backlog increase to $368.5 million, up 6% from March 31, 2024. The company is actively implementing cost-cutting measures in its UK operations to improve profitability. Analysts have not provided recent upgrades or downgrades for the company’s stock. Ampco-Pittsburgh is focused on maintaining operational efficiency and protecting margins, despite potential near-term impacts from tariffs. The company anticipates continued strong demand in the nuclear market, with record orders and shipments expected.
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