Ampco-Pittsburgh Corporation

Welcome to the Amco Pittsburgh Corporation first quarter 2024 earnings results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, please press star, then one on your telephone keypad. To withdraw a question, please press star, then two. Please note, this event is being recorded. I'd now like to turn the conference over to Kim Knox, Corporate Secretary. Please go ahead.

Thank you, Nick, and good morning to everyone joining us on today's first quarter 2024 conference call. Joining me today are Brett McBrayer, our Chief Executive Officer, and Mike McCauley, Senior Vice President, Chief Financial Officer, and Treasurer. Also joining us on the call today are Sam Lyon, President of Union Electric Steel Corporation, and Dave Anderson, President of Air and Liquid Systems 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. To access the earnings release or webcast replay, please consult the investor section of our website at amcopgh.com. With that, I'd like to turn the call over to Brett McBrayer, AMCO Pittsburgh CEO. Brett?

Thank you, Kim. Good morning, and thank you for joining our call. As reported in our press release, net sales finished the first quarter of 2024 and at $110.2 million, up over 5% compared to the first quarter of 2023. Income from operations for the quarter was $0.1 million versus $2 million when compared to the first quarter of 2023. Significantly impacting our quarter's performance was plant downtime due to a fire in one of our foreign casserole facilities and the associated repair expense. as well as an unfavorable product mix in our air and liquid processing segment. These headwinds are behind us as we have moved into the second quarter. For further comments on our performance, I will now turn the call over to Sam Lyon, president of our forged and cast engineered product segment.