Ampco-Pittsburgh Corporation (NYSE:AP) saw its stock jump in after-hours trading on Wednesday after the company reported a substantial uptick in customer orders during the first half of 2026.
The company disclosed customer order activity of approximately $268 million for the first six months of 2026, a 32% increase from $204 million in the same period last year. Management attributed the growth to stronger demand across both of Ampco-Pittsburgh's operating divisions.
In its Forged and Cast Engineered Products division, customer orders were approximately $153 million, a rise of 25% year over year. The company said order patterns improved for roll products, especially in North America, while demand for its specialty forged engineered products remained solid. Ampco-Pittsburgh also noted that recent quota and tariff protections in Europe will positively impact steel production in one of its largest markets.
The Air and Liquid Processing segment recorded roughly $116 million in orders, up 42% from the prior-year period. That increase was supported by commercial pumps for the power generation market, higher demand for pumps tied to U.S. Navy programs, and ongoing strength in the air handling business. Buffalo Air Handling, the company's air handling unit, secured the largest air handling equipment order in its history during the first half of 2026.
"We are pleased by the continued improvement in customer order activity during the first half of 2026," said Brett McBrayer, CEO of Ampco-Pittsburgh. "The increase reflects improving demand across several of our key end markets and continued execution by our teams. Together with our healthy backlog, these trends emphasize our confidence in the direction of the business as we remain focused on operational execution and serving our customers."
The announcement highlighted both the breadth and the geographic mix of demand, with North American roll-product orders improving and European policy measures expected to support regional steel production. On the Air and Liquid Processing side, the mix included orders tied to power generation and defense-related pump programs, as well as large-scale air handling contracts.
Key takeaways
- Customer orders for the first half of 2026 totaled approximately $268 million, up 32% year over year from $204 million.
- Forged and Cast Engineered Products orders were about $153 million, up 25% year over year; Air and Liquid Processing orders were about $116 million, up 42% year over year.
- Order strength was driven by roll products in North America, specialty forged products, commercial pumps for power generation, pumps for U.S. Navy programs, and a record air handling equipment order at Buffalo Air Handling.
Sectors impacted - Industrial manufacturing, energy/power generation, defense-related suppliers, and commercial HVAC/air handling.
Risks and uncertainties
- Demand concentration risk - A portion of the order strength is tied to specific end markets such as power generation and U.S. Navy programs; sustained demand in those markets is not guaranteed.
- Geographic and policy sensitivity - The company cited European quota and tariff protections as a factor that will positively affect steel production in a major market; changes in trade policy or steel production dynamics could influence supply conditions.
- Execution risk - Continued improvement depends on operational execution and the company converting order activity into revenue while managing backlog and production.
Following the disclosure of first-half order momentum, Ampco-Pittsburgh shares rose in after-hours trading on Wednesday. Management emphasized a healthy backlog and reiterated a focus on operational execution and customer service as the company navigates the remainder of 2026.