Ampco-Pittsburgh vs. NN: Which Industrial Stock Is the Better Buy?
AP and NNBR are riding different industrial demand tailwinds, but which looks more compelling now? Let's dive in.

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial ...
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Est. EPS $0.08 · Revenue $84.90M · 1 analysts
Est. EPS $0.10 · Revenue $86.50M · 1 analysts
Est. EPS $-0.62 · Revenue $427.00M · 1 analysts
Est. EPS $0.03 · Revenue $85.80M · 1 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $434.2M | +3.8% | -5.0% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-66.1M | -15183.8% | +271.7% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +13.4% | -31.2% | +34.5% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +1.4% | -52.1% | +51.4% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -15.2% | -14632.7% | +280.8% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-8.1M | -238.2% | -214.3% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | -1.9% | -233.1% | -230.8% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 423.7% | +87.4% | +3.1% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.84x | -2.9% | +1.3% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $495.4M | -6.7% | -1.3% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -3.28 vs -0.62 | -429.0% | 0.07 vs 0.08 | -12.5% |
| Revenue Surprise | $434.2M vs $427.0M | +1.7% | $102.9M vs $84.9M | +21.2% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | McNair Darrell L | director | Common Stock | D | 5,600 | — |
| Jun 25, 2026 | Lyon Samuel | officer: President of Union Electric | Common Stock | D | 9,500 | $9.82 |
| Jun 18, 2026 | Lyon Samuel | officer: President of Union Electric | Common Stock | D | 547 | $11.30 |
| May 19, 2026 | McBrayer Brett | director, officer: Chief Executive Officer | Common Stock | A | 3,300 | $9.03 |
| May 15, 2026 | Anderson David George | officer: VP, CFO & Treasurer, Pres. ALS | Common Stock | D | 1,370 | $10.85 |
Operator: Welcome to the Ampco-Pittsburgh Corporation Second Quarter 2026 Earnings Results Conference Call. [Operator Instructions] Please note this event is being recorded. I'd now like to turn the conference over to Kim Knox, Corporate Secretary. Please go ahead. Kimberly Knox: Thank you, Megan, and good morning to everyone joining us on today's second quarter 2026 conference call. Joining me today are Brett McBrayer, our Chief Executive Officer; and David Anderson, Vice President, Chief Financial Officer and President of Air & Liquid Systems Corporation. Also joining us on the call today is Sam Lyon, President of Union Electric Steel Corporation. Before we begin, I would like to remind everyone that participants on this call may make statements or comments that are forward-looking and may include financial projections or other statements of the corporation's plans, objectives, expectations or intentions. These matters involve certain risks and uncertainties, many of which are outside the corporation's control. The corporation's actual results may differ significantly from those projected or suggested in any forward-looking statements due to various risk factors, including those discussed in the corporation's most recently filed Form 10-K and in subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update or otherwise release publicly any revision to our forward-looking statements. A replay of this call will be posted on our website later today. To access the earnings release or the webcast replay, please consult the Investors section of our website at ampcopgh.com. With that, I'd like to turn the call over to Brett McBrayer, Ampco-Pittsburgh's CEO. Brett? J. McBrayer: Thank you, Kim. Good morning, and thank you for joining us. The second quarter marked a clear turning point for Ampco-Pittsburgh. Net income was $1.5 million, or $0.07 per share compared to a net loss of $7.3 million or a loss of $0.36 per share in the prior year period. Adjusted EBITDA of $9.8 million improved 22% versus prior year, with margin expanding 240 basis points to 9.5% on net sales of $102.9 million. This is important. Demand across both segments is accelerating. Customer orders of approximately $144 million were up 50% versus prior year, and backlog grew $39.9 million from the first quarter to $385.4 million. Air & Liquid delivered record results and the actions we took in Forged and Cast Engineered Products, including the closure of our U.K. facility, are now flowing through to the bottom line. I'll now turn the call over to David Anderson, our Chief Financial Officer and President of Air & Liquid Systems to discuss the Air & Liquid segment. David Anderson: Thank you, Brett. Good morning. 2026 continues to be a positive year for Air & Liquid. Q2 revenue was comparable with prior year, while year-to-date revenue increased 9% versus prior year. Adjusted EBITDA in Q2 increased 34% versus prior year as improved …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
J. Brett McBrayer | Chief Executive Officer & Director | USD 1,363,678 | Male | 1966 | Active |
Michael G. McAuley | Strategic Advisor to the CEO | USD 805,464 | Male | 1964 | Active |
Samuel C. Lyon | President of Union Electric Steel Corporation | USD 773,160 | Male | 1969 | Active |
Marliss Dee Ann Johnson | Vice President of Finance & Chief Accounting Officer | USD 305,537 | Female | 1965 | Active |
David G. Anderson | VP, CFO, Treasurer and Assistant Secretary | — | Male | 1968 | Active |
Timothy R. Clutterbuck | President of ASW Steel Inc. | — | Male | 1959 | Active |
Roscoe Carrier | Chief Information Officer | — | Male | — | Active |
Kimberly Knox | Corporate Secretary | — | — | — | Active |
AP and NNBR are riding different industrial demand tailwinds, but which looks more compelling now? Let's dive in.

AP's second-quarter 2026 results show stronger profitability, improving orders and a growing backlog despite lower sales and negative free cash flow.

Ampco-Pittsburgh Corporation (AP) Q2 2026 Earnings Call Transcript

Ampco-Pittsburgh NYSE: AP reported second-quarter 2026 net income of $1.5 million, or $0.07 per share, compared with a net loss of $7.3 million, or $0.36 per share, in the prior-year period, as restructuring actions and improved operating performance supported profitability.

CARNEGIE, Pa.--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (the “Company” or “Ampco”) (NYSE: AP) announced financial results for its second quarter ended June 30, 2026 (“Second Quarter 2026”). “Our Second Quarter 2026 results reflect continued progress across the business as customer activity improved and the benefits of actions taken over the last year continued to build,” said Brett McBrayer, CEO of Ampco-Pittsburgh. “In Forged and Cast Engineered Products, order activity improved, particul.
