Ampco-Pittsburgh Corporation

Welcome to the AmpCo Pittsburgh Corporation second quarter 2025 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, 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 would now like to turn the conference over to Kim Knox, Corporate Secretary. Please go ahead.

Thank you, Gary, and good morning to everyone joining us on today's second quarter 2025 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 its 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 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 issued yesterday afternoon, Amco Pittsburgh Corporation reported adjusted EBITDA of $8 million for the second quarter of 2025. The quarterly results were negatively impacted by a pause in customer orders as they awaited clarity on tariffs. As a result, our Forged and Cashed Engineer Products Group shut down production to adjust working capital through portions of the period. A major focus in the quarter was on our UK cash roll facility, where we continue to experience significant losses. Progress on the wind-down of this facility has progressed well as we work to accelerate rightsizing our portfolio. Once this action is complete, we expect a minimum of a $5 million operating income improvement on an annualized basis. Our air and liquid processing segment saw a 15 percent increase in adjusted EBITDA in the quarter versus prior year, and the highest year-to-date adjusted EBITDA in our segment's history. The growth in this business's performance continues to be impressive. For further details regarding our segment performance, I'll turn the call now over to Sam Lyon, President of our Forged and Cast Engine and Project Segment.