SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-Q


               QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


For the Quarter Ended      March 31, 2000
                       -----------------------

Commission File Number        0-23539
                       -----------------------


                                LADISH CO., INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


           Wisconsin                                    31-1145953
----------------------------------        --------------------------------------
  (State or other Jurisdiction of                    (I.R.S. Employer
   incorporation or organization)                    Identification No.)


  5481 South Packard Avenue, Cudahy, Wisconsin              53110
--------------------------------------------------------------------------------
    (Address of principal executive offices)             (Zip Code)


                                 (414) 747-2611
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)


     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the  preceding  12 months,  and (2) has been  subject to such filing
requirements for the past 90 days.

                               Yes __X__    No _____


     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as of the latest practicable date.

          Class                             Outstanding at March 31, 2000
-----------------------------             ---------------------------------
Common Stock, $0.01 Par Value                         13,401,134

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                                                                    Page 2 of 11


                         PART I - FINANCIAL INFORMATION
                         ------------------------------

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                                                                    Page 3 of 11

                                LADISH CO., INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
             (Dollars in Thousands, Except Share and Per Share Data)

                                                         For the Three Months
                                                            Ended March 31,
                                                        -----------------------
                                                           2000         1999
                                                        ----------   ----------
Net sales     .........................................$    54,852   $   42,756

Cost of sales ..........................................    46,249       39,318
                                                        ----------   ----------

         Gross income on sales..........................     8,603        3,438

Selling, general and administrative expenses............     2,228        1,657
                                                        ----------   ----------

         Income from operations.........................     6,375        1,781

Other income (expense):
     Interest expense...................................     ( 444)       ( 161)
     Other, net.........................................        36          109
                                                        ----------   ----------

         Income before provision for income taxes.......     5,967        1,729

Provision for income taxes..............................     1,074          260
                                                        ----------   ----------

         Net income....................................$     4,893   $    1,469
                                                        ==========   ==========


Basic earnings per share...............................$      0.36   $     0.11

Diluted earnings per share.............................$      0.35   $     0.10

Basic weighted average shares outstanding...............13,464,804   13,871,887

Diluted weighted average shares outstanding.............14,015,573   15,208,660


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<TABLE>
                                                                                                       Page 4 of 11

                                                  LADISH CO., INC.
                                            CONSOLIDATED BALANCE SHEETS
                              (Dollars in Thousands, Except Share and Per Share Data)
<CAPTION>

                                                                                   March 31,         December 31,
         Assets                                                                      2000               1999
         ------                                                                  ------------        -----------
Current assets:
<S>                                                                              <C>                 <C>
     Cash and cash equivalents...................................................$      7,111        $     1,008
     Accounts receivable, less allowance of $340 and $300, respectively..........      33,247             25,222
     Inventories.................................................................      51,274             42,427
     Prepaid expenses and other current assets...................................         361                238
                                                                                 ------------        -----------
         Total current assets....................................................      91,993             68,895
                                                                                 ------------        -----------
Property, plant and equipment:
     Land and improvements.......................................................       5,722              3,855
     Buildings and improvements..................................................      16,712             15,912
     Machinery and equipment.....................................................     126,525            120,526
     Construction in progress....................................................       9,705              5,562
                                                                                 ------------        -----------
                                                                                      158,664            145,855
     Less - accumulated depreciation.............................................    ( 66,187)          ( 62,648)
                                                                                 ------------        -----------
         Net property, plant and equipment.......................................      92,477             83,207

Other assets  ...................................................................      18,030              7,481
                                                                                 ------------        -----------

         Total assets............................................................$    202,500        $   159,583
                                                                                 ============        ===========

         Liabilities and Stockholders' Equity
         ------------------------------------
Current liabilities:
     Senior debt.................................................................$     26,600        $         0
     Accounts payable............................................................      25,115             12,548
     Accrued liabilities:
         Pensions................................................................         505                504
         Postretirement benefits.................................................       5,551              5,551
         Wages and salaries......................................................       4,512              3,107
         Taxes, other than income taxes..........................................         323                227
         Interest................................................................          90                 54
         Profit sharing..........................................................         371                958
         Paid progress billings..................................................       4,504              5,556
         Other...................................................................       2,832              1,383
                                                                                 ------------        -----------
              Total current liabilities..........................................      70,403             29,888
Long term liabilities:
     Senior debt, less current portion...........................................           0                  0
     Pensions ...................................................................      12,843             14,692
     Postretirement benefits.....................................................      40,278             40,929
     Other noncurrent liabilities................................................         606                607
                                                                                 ------------        -----------
              Total liabilities..................................................     124,130             86,116
                                                                                 ------------        -----------

Stockholders' equity:
     Common stock - authorized 100,000,000, issued and outstanding 14,318,406
       shares of $.01 par value as of March 31, 2000 and December 31, 1999.......         143                143
     Additional paid-in capital..................................................      81,272             80,293
     Accumulated (deficit) retained earnings.....................................       3,134            ( 1,759)
     Treasury stock, 917,272 shares and 770,672 shares of common stock
       at cost as of March 31, 2000 and December 31, 1999, respectively..........     ( 6,179)           ( 5,210)
                                                                                 ------------        -----------
              Total stockholders' equity.........................................      78,370             73,467
                                                                                 ------------        -----------

              Total liabilities and stockholders' equity.........................$    202,500        $   159,583
                                                                                 ============        ===========
</TABLE>

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<TABLE>

                                                                                                       Page 5 of 11

                                                  LADISH CO., INC.
                                       CONSOLIDATED STATEMENTS OF CASH FLOWS
                                               (Dollars in Thousands)
<CAPTION>

                                                                                       For the Three Months
                                                                                          Ended March 31,
                                                                                 -------------------------------
                                                                                      2000               1999
                                                                                 ------------        -----------
CASH FLOWS FROM OPERATING ACTIVITIES:

<S>                                                                              <C>                 <C>
     Net income..................................................................$      4,893        $     1,469
     Adjustments to reconcile net income to net cash
        provided from (used for) operating activities:
         Depreciation............................................................       3,538              2,952
         Amortization............................................................         208                 76
         Reduction in valuation allowance........................................       1,007                223


     Change in assets and liabilities:
         Accounts receivable.....................................................     ( 4,431)             7,371
         Inventories.............................................................     ( 3,642)           ( 3,134)
         Other assets............................................................       ( 226)             ( 287)
         Accounts payable and accrued liabilities................................      10,785            ( 3,383)
         Other liabilities.......................................................     ( 2,501)           ( 1,591)
                                                                                 ------------        -----------

              Net cash provided from operating activities........................       9,631              3,696
                                                                                 ------------        -----------

CASH FLOWS FROM INVESTING ACTIVITIES:

     Additions to property, plant and equipment..................................     ( 2,531)           ( 3,453)
     Proceeds from sale of property, plant and equipment.........................          --                ( 1)
     Acquisition of business.....................................................    ( 26,600)          ( 11,367)
                                                                                 ------------        -----------

              Net cash used for investing activities.............................    ( 29,131)          ( 14,821)
                                                                                 ------------        -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Proceeds from senior debt...................................................      26,600              7,380
     Repurchase of common stock..................................................       ( 969)             ( 437)
     Retirement of warrants......................................................        ( 28)                --
     Exercise of warrants........................................................          --                210
                                                                                 ------------        -----------

              Net cash provided from (used for) financing activities.............      25,603              7,153
                                                                                 ------------        -----------

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS.................................       6,103            ( 3,972)
CASH AND CASH EQUIVALENTS, beginning of period...................................       1,008              5,517
                                                                                 ------------        -----------

CASH AND CASH EQUIVALENTS, end of period.........................................$      7,111        $     1,545
                                                                                 ============        ===========
</TABLE>

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                                                                    Page 6 of 11

                                LADISH CO., INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                             (Dollars in Thousands)


(1)  Basis of Presentation
     ---------------------

In the opinion of the Company, the accompanying unaudited consolidated financial
statements  contain all  adjustments  necessary to present  fairly its financial
position at March 31, 2000 and December  31, 1999 and its results of  operations
and cash flows for the three months ended March 31, 2000 and March 31, 1999. All
adjustments are of a normal recurring nature.

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with Article 10 of Regulation S-X and therefore do not include all
information  and footnotes  necessary for a fair  presentation  of the financial
position,  results of  operations  and cash flow in  conformity  with  generally
accepted accounting  principles.  In conjunction with its Form 10-K, the Company
filed audited  consolidated  financial statements which included all information
and footnotes  necessary for a fair  presentation  of its financial  position at
December  31,  1999  and  1998,  and  the  related  consolidated  statements  of
operations,  stockholders'  equity,  and cash flows for the years ended December
31, 1999, 1998 and 1997.

The results of operations  for the  three-month  period ended March 31, 2000 are
not necessarily indicative of the results to be expected for the full year.

(2)  Inventories
     -----------

Inventories consisted of:

                                                   March 31,       December 31,
                                                     2000             1999
                                                   ---------        ---------
     Raw material and supplies                     $  16,520        $  15,214
     Work-in-process and finished goods               37,063           29,501
     Less progress payments                          ( 2,309)         ( 2,288)
                                                   ---------        ---------

           Total inventories                       $  51,274        $  42,427
                                                   =========        =========

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                                                                    Page 7 of 11

(3)  Interest and Income Tax Payments
     --------------------------------
                                                      For the Three Months
                                                         Ended March 31,
                                                   --------------------------
                                                     2000             1999
                                                   ---------        ---------
     Interest                                      $     402        $     182
     Income taxes                                        121              204

(4)  Cash and Cash Equivalents
     -------------------------

Cash in  excess of daily  requirements  is  invested  in  marketable  securities
consisting of Commercial  Paper and Repurchase  Agreements which mature in three
months or less. Such  investments are deemed to be cash equivalents for purposes
of the statement of cash flows.

(5)  Revenue Recognition
     -------------------

Revenue is recognized when products are shipped.

(6)  Earnings Per Share
     ------------------

The incremental difference between basic weighted average shares outstanding and
diluted  weighted  average shares  outstanding is due to the dilutive  impact of
outstanding options and warrants.


<PAGE>
                                                                    Page 8 of 11

                             MANAGEMENT'S DISCUSSION
                    AND ANALYSIS OF RESULTS OF OPERATIONS AND
                          CHANGES IN FINANCIAL POSITION

RESULTS OF OPERATIONS
---------------------

First Quarter 2000 Compared to First Quarter 1999
-------------------------------------------------

Net sales for the three months ended March 31, 2000 were $54.85 million compared
to $42.76 for the same period in 1999.  The 28%  increase in sales for the first
quarter of 2000 was  primarily  attributed to an  improvement  in the jet engine
market and the Company's acquisition of Pacific Cast Technologies, Inc. ("PCT").
See "Other  Information.".  The Company did benefit in the first quarter of 2000
due to reduced costs associated with manpower  reductions and product mix. Gross
profit  increased  to 15.7% of sales in  contrast  to 8.0% of sales in the first
quarter  of 1999 as a  result  of  improved  absorption  of  fixed  costs by the
increased  level of sales  and the  reduction  in cost of goods due to the labor
dispute.

During the first quarter of 2000 the Company experienced a labor stoppage by the
largest union at the Company's Cudahy,  Wisconsin  facility.  During the strike,
the Company continued to run operations and deliver products through the efforts
of the salaried  personnel and other organized  employees of Ladish.  The strike
also had the effect of significantly  reducing the Company's  operating expenses
during  the first  quarter of 2000 and  thereby  positively  contributed  to the
earnings of the Company during this period. The strike was resolved in the month
of April 2000 and will have a lesser effect on second quarter results.

Selling,  general and  administrative  expenses,  as a percentage of sales, were
4.1% for the first quarter of 2000 compared to 3.9% for the same period in 1999.
The increase in SG&A expenses for the period was largely attributable to the PCT
acquisition.

Interest expense for the period was $0.444 million in contrast to $0.161 million
in 1999.  The  increase in interest  expense was due to higher loan  balances of
senior debt resulting from the PCT purchase. As of March 31, 2000, the Company's
senior  debt had an  interest  rate equal to the LIBOR rate plus 0.75% per annum
(reduced from commercial paper plus 1.0% per annum as of March 31, 1999).

The $1.07  million  provision  for taxes  for 2000 and  $0.26  million  for 1999
represent  largely  non-cash  accounting  charges.  The  reversal  of  valuation
allowances relating to  pre-restructuring  NOLs requires the Company to record a
tax  provision  and to reflect  the offset as an  addition  to paid-in  capital,
rather  than as an  offset  to the  provision  for  income  taxes.  The  overall
effective  rate differs  substantially  from the  statutory  tax rate due to the
reversal  of  valuation   allowances  relating  to   post-restructuring   versus
pre-restructuring  deferred tax assets.  The Company  intends to continue to use
its NOLs in the future to reduce actual  payment of federal  income  taxes.  The
future  use of the  NOLs is  subject  to  certain  statutory  restrictions.  See
"Liquidity and Capital Resources."
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                                                                    Page 9 of 11

Liquidity and Capital Resources
-------------------------------

As of  July 1,  1999,  the  Company  entered  into a new  credit  facility  (the
"Facility") with a syndicate of lenders. The Facility provides for borrowings of
up to $100 million subject to certain limitations. Borrowings under the Facility
are  unsecured  and will  initially be  structured  as revolving  loans with the
option of  conversion  into term  loans.  Borrowings  under  the  Facility  bear
interest  at a rate of LIBOR plus 0.75% per annum.  Proceeds  from the  Facility
were used to terminate the prior credit  agreement on July 1, 1999. At March 31,
2000,  approximately $36.1 million was available and undrawn under the Facility.
The balance of the borrowings  under the Facility as of March 31, 2000 was $26.6
million.

On April 14,  2000 the  Company  and  substantially  the same  group of  lenders
entered into an amended and restated credit facility (the "New  Facility").  The
New  Facility is  comprised  of a $24 million  term  facility  with a three-year
maturity and a $76 million  revolving  loan  facility.  The term facility  bears
interest at a rate of LIBOR plus 1.25% and the  revolving  loan  facility  bears
interest at a rate of LIBOR plus 0.80%.

The Company has net operating loss ("NOL")  carryforwards,  which were generated
prior to a financial restructuring that was completed on April 30, 1993, as well
as NOL  carryforwards  that  were  generated  in  subsequent  years.  The  total
remaining NOL  carryforwards  were  approximately $50 million as of December 31,
1999. The NOL carryforwards  expire gradually beginning in the year 2007 through
2010.

The Company's IPO created an ownership change as defined by the Internal Revenue
Service,  ("IRS").  This ownership change generated an IRS imposed limitation on
the utilization of NOL  carryforwards  on future tax returns.  The annual use of
the NOL  carryforwards is limited to the lesser of the Company's  taxable income
or the amount of the IRS imposed  limitation.  Approximately  $12 million of the
NOL carryforwards is available for use annually. Approximately $2 million of the
$12  million  annual  limitation  relates  to  a  previous  restriction  on  NOL
carryforwards generated prior to the financial restructuring.

Based on the limitations  described above and certain other factors, a valuation
allowance  has been  recorded  against the entire amount of the net deferred tax
assets.  Any tax benefit that is realized in subsequent years from the reduction
of  the  valuation   allowance   established   at  or  prior  to  the  financial
restructuring  will be  recorded  as an  addition  to paid-in  capital.  Any tax
benefit that is realized in subsequent  years from the  utilization  of deferred
tax assets  created  after April 30,  1993,  will be recorded as a reduction  of
future income tax provisions.

Under the common stock  repurchase  program (the  "Program")  authorized  by the
Company's Board of Directors,  the Company  repurchased 152,261 shares, or share
equivalents,  of its common stock during the first  quarter of 2000. As of March
31, 2000, the Company has repurchased 1,677,362 shares, or share equivalents, of
its common stock under the Program.

<PAGE>
                                                                   Page 10 of 11

Item 3. Quantitative and Qualitative Disclosures about Market Risk
------------------------------------------------------------------

The Company  believes  that its  exposure  to market risk  related to changes in
foreign currency exchange rates and trade accounts receivable is immaterial.

                           -------------------------

Any   statements   contained   herein   that  are  not   historical   facts  are
forward-looking   statements  within  the  meaning  of  the  Private  Securities
Legislation  Reform Act of 1995,  and  involve  risks and  uncertainties.  These
forward-looking  statements include expectations,  beliefs,  plans,  objectives,
future  financial  performance,  estimates,  projections,  goals and  forecasts.
Potential  factors which could cause the Company's  actual results of operations
to differ materially from those in the forward-looking statements include market
conditions and demand for the Company's products; competition; technologies; raw
material prices;  interest rates and capital costs; taxes;  unstable governments
and  business  conditions  in  emerging  economies;  and legal,  regulatory  and
environmental  issues. Any forward-looking  statement speaks only as of the date
on which such statement is made. The Company  undertakes no obligation to update
any forward-looking  statement to reflect events or circumstances after the date
on which such statement is made.


PART II - OTHER INFORMATION
---------------------------

Item 4.  Submission of Matters to a Vote of Security Holders
------------------------------------------------------------

No matter was submitted to the stockholders for a vote during the period covered
by this report.

Item 5.  Other Information
--------------------------

On January 14, 2000 the Company acquired  substantially  all of the assets and a
portion  of the  liabilities  of the  business  formerly  known as  Wyman-Gordon
Titanium  Castings,  LLC for a purchase  price of  approximately  $26.6 million,
subject  to  adjustment  for change of asset  value.  The  business,  which will
operate independently as a wholly-owned subsidiary of the Company, is located in
Albany,  Oregon and has been renamed PCT. The principle  focus of PCT's business
is  in  the  investment  casting  of  titanium  for  jet  engine  and  aerospace
applications.

Item 6. Reports on Form 8-K
---------------------------

(a)  Exhibit 27. Financial Data Schedule.

(b)  The Company filed a report on Form 8-K on March 1, 2000 with the Commission
     disclosing the labor stoppage in Wisconsin;  it was the only report on Form
     8-K filed during the period covered by this report.

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                                                                   Page 11 of 11


SIGNATURES
----------

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.


                                        LADISH CO., INC.



Date:  April 28, 2000                   By: /s/  WAYNE E. LARSEN
     -----------------                     -----------------------------------
                                                 Wayne E. Larsen
                                             Vice President Law/Finance
                                                    & Secretary