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Ampco-Pittsburgh (AP) to Report Q1 Earnings: What's in Store?
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Ampco-Pittsburgh Corporation (AP - Free Report) is scheduled to report first-quarter 2020 results on May 6, before the opening bell.
Q1 Estimates
The Zacks Consensus Estimate for revenues is pegged at $103 million, indicating a declining of 4% from the year-ago reported figure. The same for earnings stands at 11 cents, a significant improvement from a loss of 12 cents in the prior-year quarter.
Notably, the Zacks Consensus Estimate has remained stable in the past 30 days. The company which manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry worldwide, has a trailing four-quarter positive earnings surprise of 92.3%, on average.
Ampco-Pittsburgh Corporation Price and EPS Surprise
Ampco-Pittsburgh reported adjusted earnings per share of 15 cents in fourth-quarter 2019 against a loss per share of 23 cents in the prior-year quarter. Total revenues improved 1% year over year to $97 million.
Key Factors to Note
Per the Federal Reserve, industrial production contracted 7.5% in the first quarter of 2020 — the steepest since second-quarter 2009. Manufacturing output also slumped at an annual rate of 7.1% in the first quarter, the sharpest since first-quarter 2009. Meanwhile, per the Institute for Supply Management, the Manufacturing Purchasing Managers’ Index (PMI) after recording 50.9 in January, and 50.1 in February (indicating expansion), contracted again to 49.1% in March.
These figures clearly indicate that the manufacturing sector has been impacted by the coronavirus pandemic and energy market volatility. Further, lower oil prices are likely to have impacted demand for forged engineered products. These are likely to get reflected in Ampco-Pittsburgh’s first-quarter results.
The company has been undergoing a series of strategic restructuring actions to right-size its businesses, improve manufacturing efficiency and lower operating costs. These initiatives aided the company return to profitability in fourth-quarter 2019. Notably, the company took additional cost reduction steps in the fourth quarter and implemented new initiatives in its European operations, which are expected to have improved profitability further. The company’s first-quarter performance is likely to have benefited from these activities.
Price Performance
Over the past year, shares of Ampco-Pittsburgh have gained 5.1% against the industry’s decline of 32.0%.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Ampco-Pittsburgh this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. But that’s not the case here.
Earnings ESP: Ampco-Pittsburgh has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Ampco-Pittsburgh carries a Zacks Rank #1.
Stocks Poised to Beat Earnings Estimates
Here are a few Industrial Products stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.
Ball Corporation has an Earnings ESP of +1.56% and a Zacks Rank of 3.
Axon Enterprise, Inc. has an Earnings ESP of +18.31% and a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Ampco-Pittsburgh (AP) to Report Q1 Earnings: What's in Store?
Ampco-Pittsburgh Corporation (AP - Free Report) is scheduled to report first-quarter 2020 results on May 6, before the opening bell.
Q1 Estimates
The Zacks Consensus Estimate for revenues is pegged at $103 million, indicating a declining of 4% from the year-ago reported figure. The same for earnings stands at 11 cents, a significant improvement from a loss of 12 cents in the prior-year quarter.
Notably, the Zacks Consensus Estimate has remained stable in the past 30 days. The company which manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry worldwide, has a trailing four-quarter positive earnings surprise of 92.3%, on average.
Ampco-Pittsburgh Corporation Price and EPS Surprise
Ampco-Pittsburgh Corporation price-eps-surprise | Ampco-Pittsburgh Corporation Quote
A Peek at Q4
Ampco-Pittsburgh reported adjusted earnings per share of 15 cents in fourth-quarter 2019 against a loss per share of 23 cents in the prior-year quarter. Total revenues improved 1% year over year to $97 million.
Key Factors to Note
Per the Federal Reserve, industrial production contracted 7.5% in the first quarter of 2020 — the steepest since second-quarter 2009. Manufacturing output also slumped at an annual rate of 7.1% in the first quarter, the sharpest since first-quarter 2009. Meanwhile, per the Institute for Supply Management, the Manufacturing Purchasing Managers’ Index (PMI) after recording 50.9 in January, and 50.1 in February (indicating expansion), contracted again to 49.1% in March.
These figures clearly indicate that the manufacturing sector has been impacted by the coronavirus pandemic and energy market volatility. Further, lower oil prices are likely to have impacted demand for forged engineered products. These are likely to get reflected in Ampco-Pittsburgh’s first-quarter results.
The company has been undergoing a series of strategic restructuring actions to right-size its businesses, improve manufacturing efficiency and lower operating costs. These initiatives aided the company return to profitability in fourth-quarter 2019. Notably, the company took additional cost reduction steps in the fourth quarter and implemented new initiatives in its European operations, which are expected to have improved profitability further. The company’s first-quarter performance is likely to have benefited from these activities.
Price Performance
Over the past year, shares of Ampco-Pittsburgh have gained 5.1% against the industry’s decline of 32.0%.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Ampco-Pittsburgh this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. But that’s not the case here.
Earnings ESP: Ampco-Pittsburgh has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Ampco-Pittsburgh carries a Zacks Rank #1.
Stocks Poised to Beat Earnings Estimates
Here are a few Industrial Products stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.
IntellicheckMobilisa, Inc. (IDN - Free Report) has an Earnings ESP of +66.67% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ball Corporation has an Earnings ESP of +1.56% and a Zacks Rank of 3.
Axon Enterprise, Inc. has an Earnings ESP of +18.31% and a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>