Ampco Pittsburgh Corp.

Metal Fabrication • Industrials • Carnegie, PA, United States • AP (NYQ)

412 456 4400 726 Bell Avenue, Carnegie, PA 15106, United States

Quarter: Q4 2025 Reported: December 11, 2025 Sentiment: Neutral

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments. The FCEP segment produces forged hardened steel rolls, cast rolls and, and forged engineered products that are used in hot and cold rolling mills by producers of steel, aluminum, and other metals; cast rolls for hot strip mills, medium/heavy section mills, roughing mills, and plate mills; and forged engineered products for narrow and wide strip and aluminum mills, back-up rolls for narrow strip mills, and leveling rolls and shafts. The ALP Aerofin segment produces custom-engineered finned tube heat exchange coils and related heat transfer products for various industries, including original equipment manufacturers OEM/commercial, nuclear power generation, and industrial manufacturing; custom-designed air handling systems for institutional, pharmaceutical, and general industrial building markets; and manufactures centrifugal pumps for the fossil fueled power generation, marine defense, and industrial refrigeration industries. Ampco-Pittsburgh Corporation was incorporated in 1929 and is headquartered in Carnegie, Pennsylvania.

Analysis Summary

This 8-K filing from AMPCO-PITTSBURGH CORPORATION (AP) primarily details significant executive leadership changes and associated compensation adjustments, rather than providing a Q4 2025 earnings report. The core announcement is the resignation of Michael G. McAuley as Senior Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary, effective December 31, 2025. His departure marks a transition in the company's financial leadership.

Succeeding Mr. McAuley is David G. Anderson, who will be appointed Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary, effective January 1, 2026. Notably, Mr. Anderson will also retain his current position as President of Air & Liquid Systems Corporation, a wholly-owned subsidiary, indicating a strategy to leverage existing internal talent and maintain operational oversight within a key segment. This dual role could offer synergistic benefits, integrating financial strategy more closely with subsidiary operations.

Compensation for Mr. Anderson will be adjusted commensurate with his expanded responsibilities, including an annual base salary of $430,000. His incentive opportunities are structured with a short-term target of 65% of base salary and a long-term equity incentive target of 85% of base salary. This structure is designed to align his performance with the company's strategic objectives.

To ensure a smooth transition and retain valuable institutional knowledge, Mr. McAuley will remain with the Corporation as Strategic Advisor to the Chief Executive Officer from January 1, 2026, through June 30, 2026. During this advisory period, he will receive an annualized base salary of $495,000, consistent with his fiscal year 2025 salary, and will be reimbursed for 18 months of COBRA premiums. However, he will not participate in the 2026 short-term or long-term incentive programs. This arrangement suggests a well-planned succession strategy focused on continuity and knowledge transfer.

Given that this is an 8-K filing focused on executive changes, there is no financial performance data, revenue, earnings, EPS, or specific forward guidance for Q4 2025 or future periods provided within this transcript. Therefore, a detailed breakdown of financial performance, competitive positioning, or market trends based on earnings is not possible from this document. The forward-looking statements section outlines general business risks, which are standard disclosures.

Analyst Q&A highlights are not applicable as this is an 8-K filing, not an earnings call transcript with a Q&A segment.

Key Highlights

• Michael G. McAuley to resign as CFO effective December 31, 2025.
• David G. Anderson appointed new CFO, Treasurer, and Assistant Secretary, effective January 1, 2026.
• Mr. Anderson will retain his role as President of Air & Liquid Systems Corporation.
• Mr. Anderson's new annual base salary will be $430,000, with significant incentive opportunities.
• Mr. McAuley will serve as Strategic Advisor to the CEO from January 1 to June 30, 2026, at a $495,000 annualized base salary.
• No financial performance data (revenue, earnings, EPS, guidance) for Q4 2025 was provided in this 8-K filing.

Financial Metrics

eps

YoY: Not provided in transcript

revenue

N/A

YoY: Not provided in transcript

guidance

net income

N/A

YoY: Not provided in transcript

Stock Performance (90 Days)

Data through May 15, 2026

Positive Signals

• Smooth executive transition with clear effective dates.
• Internal promotion of David G. Anderson, leveraging existing company knowledge.
• Outgoing CFO, Michael G. McAuley, retained as Strategic Advisor for continuity.
• Compensation packages for new and transitioning roles are clearly defined.

Risks & Concerns

— Inability to maintain adequate liquidity to meet operating cash flow requirements and debt obligations.
— Economic downturns, cyclical demand for products, and insufficient demand.
— Increases in commodity prices or insufficient hedging against such increases.
— Potential attacks on information technology infrastructure and other cyber-based business disruptions.
— Changes in the global economic environment, inflation, elevated interest rates, and geopolitical conflicts.