Castellenghi and Saraudi advanced to the semifinals in their weight classes, but both were beaten there and neither contested the bronze medal match.
1924 was the fourth consecutive Games in which Italy had sent a single man in diving; Cangiullo continued the nation's lack of finals advancement.
Tommaso Lequio di Assaba, the defending gold medalist in the individual jumping, took silver this time.
The absence of Nedo Nadi (by then a professional) and the heightened performance of France's Roger Ducret resulted in a relative down year for the Italian team, which defended only one of its five titles from 1920.
All three of the country's team event squads reached the finals; they won a gold medal in the sabre and a bronze in the épée.
The four-team final pool was dominated by the two teams, and the match between them decided gold.
That match was one of the closest of the 1924 Games, with the teams splitting the bouts 8 to 8 and Italy winning via tie-breaker: 50 touches to 46.
The Italian team won its third consecutive gold medal in the team event (in part at least due to Czechoslovakia's failure to finish), though were kept out of the individual all-around medals after having had an individual all-around gold medalist the previous two Games.
Mandrini had the best all-around result of the Italians, placing fourth despite earning no better than seventh in any single apparatus.
Francesco Martino took the gold medal in the rings, while Zampori earned bronze in the parallel bars.