Form 8-K

8-K — ALBANY INTERNATIONAL CORP /DE/

Accession: 0001628280-26-052156

Filed: 2026-08-04

Period: 2026-08-04

CIK: 0000819793

SIC: 2221 (BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ain-20260804.htm (Primary)

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8-K

8-K (Primary)

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ain-20260804

325 Corporate DrivePortsmouthNew HampshireFALSE000081979300008197932026-04-302026-04-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report: August 4, 2026

(Date of earliest event reported)

ALBANY INTERNATIONAL CORP.

(Exact name of registrant as specified in its charter)

Delaware

1-10026

14-0462060

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S Employer

Identification No.)

325 Corporate Drive Portsmouth, New Hampshire

03801

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code 603-330-5800

None

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, $0.001 par value per share

AIN

The New York Stock Exchange (NYSE)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).

☐ Emerging growth company

¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act

Item 2.02. Results of Operations and Financial Condition.

On August 4, 2026 Albany International issued a news release reporting second-quarter 2026 financial results. The Company will host a webcast to discuss earnings at 8:30 a.m. Eastern Time on Tuesday August 4, 2026. The news release is furnished as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is being furnished herewith:

99.1 News release dated August 4, 2026 reporting second-quarter 2026 financial results.

Signature

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 hereunto duly authorized.

ALBANY INTERNATIONAL CORP.

By:

/s/ Willard C. Station

Name:

Willard C. Station

Title:

Executive Vice President, Chief Financial Officer

(Principal Financial Officer)

Date: August 4, 2026

EXHIBIT INDEX

Exhibit No.

Description

99.1

News release dated August 4, 2026 reporting second-quarter 2026 financial results.

104 Inline XBRL cover page.

Exhibit 99.1

Albany International Reports Second-Quarter 2026 Results

•Q2 2026 net revenue of $329.5 million, up 6% compared to $311.4 million in Q2 2025.

•Q2 2026 net income attributable to the Company of $17.4 million, or diluted earnings per share (EPS) of $0.61, up 90% and 97% respectively, compared to net income of $9.2 million, or diluted EPS of $0.31, in the prior year.

•Adjusted EBITDA of $57.8 million in Q2 2026 and Adjusted EPS per diluted share of $0.82 up 11% and 45% respectively, compared to $51.9 million and $0.57 in Q2 2025.

•Paid $7.9 million in dividends and invested $11.9 million in capital in the second quarter, continuing the commitment of balanced capital allocation.

PORTSMOUTH, N.H.--(BUSINESS WIRE)--August 4, 2026 — Albany International Corp. (NYSE:AIN) today reported operating results for its second quarter of 2026, which ended June 30, 2026.

Gunnar Kleveland, Albany International’s President and Chief Executive Officer, said, “Our second-quarter performance delivered the strongest Adjusted EBITDA we have achieved in the past two years and grew 11.5% year-over-year, despite modestly lower-than-expected revenue due to several discrete factors. This result reflects the progress we have made to build a more nimble company and underscores the strength of our operating model, our focus on profitable growth, and the dedication of the Albany team."

Kleveland continued, “In Engineered Composites, we are seeing the benefits of a refined operating model centered on our innovative technologies, which enable lighter-weight, more durable solutions for customers across commercial aerospace, defense, and space applications. Our recent participation at the Farnborough International Airshow reinforced the value of our business, as leading OEMs and government stakeholders engaged with us to explore solutions enabled by our innovative material science. In Machine Clothing, we are applying that same focus on innovation to expand opportunities for our high-value, performance-driven products across a broader range of uses.”

Consolidated Results

The Company’s net revenues were $329.5 million in the second quarter of 2026, compared to $311.4 million in the prior year. The increase was primarily driven by higher volume in the Engineered Composites business, offset by some end-market softness in Machine Clothing along with downtime related to an equipment failure in the Machine Clothing business.

Gross profit of $107.9 million in the second quarter of 2026 was 10.7% higher than $97.5 million reported for the same period of 2025, as a result of cost controls in Machine Clothing and a favorable mix of aerospace and defense programs in the Engineered Composites business.

Selling, general, and administrative expenses were $56.1 million in the second quarter of 2026, compared to $58.5 million in the same period of 2025, driven primarily by cost containment initiatives.

Operating income was $32.1 million, compared to $22.3 million in the prior year, an increase of 44.3%, primarily driven by stronger gross profit and cost containment initiatives.

The effective tax rate for the quarter was 32.0% compared to a 31.3% effective tax rate in the second quarter of 2025.

The net income attributable to the Company was $17.4 million, or $0.61 per share on a basic and diluted basis, compared to $9.2 million, or $0.31 per share in the second quarter of 2025.

Adjusted diluted earnings per share (or Adjusted EPS, a non-GAAP measure) was $0.82 per share, compared to $0.57 per share for the same period of last year.

Adjusted EBITDA (a non-GAAP measure) was $57.8 million, compared to $51.9 million in the second quarter of 2025, an increase of 11.5%, due to stronger revenue and operating profit. Adjusted EBITDA margin was 17.6% and 16.7% in the prior year, up 90 basis points as a result of stronger contribution from Engineered Composites.

Will Station, Albany International’s Chief Financial Officer, said, “We are pleased with our second-quarter performance, as disciplined execution and a more focused operating model drove meaningful year-over-year improvement in profitability. As we look to the balance of the year, we remain well positioned to maintain our growth trajectory. In Engineered Composites, we expect continued strength as multiple programs scale and we benefit from our focus on quality of earnings, while in Machine Clothing, we remain focused on execution and margin stability as we manage a fluid demand environment across the geographies we serve.”

Machine Clothing

Machine Clothing's net revenues decreased 2.4% after adjusting for currency translation, primarily driven by cyclical declines in the Americas and machine downtime in that region.

Machine Clothing’s adjusted EBITDA margin was 28.0%, compared to 28.9% in the second quarter of 2025. The margin decline is primarily impacted by foreign currency impacts related to a weaker U.S. dollar. On a constant currency basis, margins were up slightly at 29.0% despite lower volumes, driven by synergies and efficiency gains across the network.

Engineered Composites

Engineered Composites net revenues increased 14.2% after adjusting for currency translation, driven by strength across commercial and defense programs, most notably on the commercial side within the LEAP program, and on the defense side under the CH-53K and missile programs.

Adjusted EBITDA margin was 13.3%, compared to 8.5% in the second quarter of 2025. The increase in margin was driven by the continued focus on quality of earnings and the scaling of more profitable programs.

Capital Allocation Balance Sheet

Capital expenditures were $11.9 million, compared to $14.9 million in the second quarter of 2025, and were driven primarily by facility optimizations. Research and development expenses totaled $11.7 million, compared to $12.6 million in the second quarter of 2025, consistent with the Company’s commitment to advancing proprietary technologies and supporting long-term growth in both Machine Clothing and Engineered Composites.

Albany ended the quarter with cash and cash equivalents of $77.3 million and total debt of $450.7 million, resulting in a net debt position of $373.3 million. The Company maintains significant financial flexibility and liquidity to support ongoing investment initiatives while continuing to return capital to shareholders.

Outlook for the Third Quarter of 2026

•Consolidated net revenue between $320 million and $330 million

•Machine Clothing net revenue between $165 million and $170 million

•Engineered Composite net revenue between $155 million and $160 million

•Adjusted EPS between $0.60 and $0.70

•Third-quarter effective tax rate of 31.5%

Second-Quarter 2026 Results Conference Call/Webcast

The Company will host a webcast to discuss results at 9:00 a.m. Eastern Time on Tuesday, August 4, 2026. Interested parties are encouraged to listen to the live webcast via the Company’s Investor Relations website at investors.albint.com or by registering via the link here. The event can also be accessed by dialing +1 (833) 461-5787 and using the Meeting ID: 487 159 842.

An archive of the webcast will be available for replay on the website at approximately noon Eastern Time on Tuesday, August 4, 2026.

ALBANY INTERNATIONAL CORP.

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

(unaudited)

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Net revenues $ 329,482 $ 311,399 $ 640,815 $ 600,173

Cost of goods sold 221,581 213,892 433,120 406,180

Gross profit 107,901 97,507 207,695 193,993

Selling, general, and administrative expenses 56,068 58,502 114,367 112,314

Technical and research expenses 11,722 12,552 24,679 24,448

Restructuring expenses, net 7,973 4,183 11,138 6,698

Operating income 32,138 22,270 57,511 50,533

Interest expense, net 6,068 5,150 11,535 8,805

Other expense/(income), net 39 3,534 (3,154) 4,517

Income before income taxes 26,031 13,586 49,130 37,211

Income tax expense 8,327 4,254 15,977 10,530

Net income 17,704 9,332 33,153 26,681

Net income attributable to the noncontrolling interest 290 149 458 143

Net income attributable to the Company $ 17,414 $ 9,183 $ 32,695 $ 26,538

Earnings per share attributable to Company shareholders - Basic $ 0.61 $ 0.31 $ 1.15 $ 0.87

Earnings per share attributable to Company shareholders - Diluted $ 0.61 $ 0.31 $ 1.14 $ 0.87

Shares of the Company used in computing earnings per share:

Basic 28,361 29,928 28,341 30,373

Diluted 28,588 30,090 28,568 30,535

Dividends declared per Class A share $ 0.28 $ 0.27 $ 0.56 $ 0.54

ALBANY INTERNATIONAL CORP.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

June 30, 2026 December 31, 2025

Assets

Cash and cash equivalents $ 77,349 $ 112,350

Accounts receivable, net 252,133 235,084

Contract assets, net 77,287 87,102

Inventories 146,158 121,589

Income taxes prepaid and receivable 41,191 43,937

Prepaid expenses and other current assets 40,402 34,990

Assets held for sale 306,722 293,783

Total current assets $ 941,242 $ 928,835

Property, plant and equipment, net 467,424 482,568

Intangibles, net 19,667 21,428

Goodwill 160,552 162,507

Deferred income taxes 66,319 68,499

Other assets 56,161 54,872

Total assets $ 1,711,365 $ 1,718,709

Liabilities and Shareholders' Equity

Accounts payable $ 75,075 $ 64,499

Accrued liabilities 133,829 139,385

Income taxes payable 24,524 35,090

Liabilities held for sale 187,108 203,323

Total current liabilities 420,536 442,297

Long-term debt 450,669 455,663

Other noncurrent liabilities 85,983 86,850

Deferred income taxes 2,088 1,797

Total liabilities 959,276 986,607

Commitments and Contingencies

Shareholders' Equity:

Class A Common Stock, par value $0.001 per share; authorized 100,000,000 shares; 41,056,929 issued in 2026 and 40,989,106 in 2025 41 41

Additional paid in capital 464,148 460,472

Retained earnings 993,170 976,373

Accumulated items of other comprehensive income:

Translation adjustments (121,743) (119,008)

Pension and postretirement liability adjustments (23,065) (23,911)

Derivative valuation adjustment 131 (619)

Treasury stock (Class A), at cost; 12,685,782 shares in 2026 and 12,685,782 in 2025 (566,993) (567,139)

Total shareholders' equity 745,689 726,209

Noncontrolling interest 6,400 5,893

Total equity 752,089 732,102

Total liabilities and shareholders' equity $ 1,711,365 $ 1,718,709

ALBANY INTERNATIONAL CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Six Months Ended June 30,

2026 2025

Cash flows from operating activities:

Net income $ 33,153 $ 26,681

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation 32,853 40,085

Amortization 1,294 2,957

Change in deferred taxes 2,179 (2,761)

Loss/(gain) on disposal of property, plant and equipment 324 (66)

Non-cash interest expense 515 513

Compensation and benefits paid or payable in Class A Common Stock 5,009 3,654

Provision/(recovery) for credit losses from uncollected receivables and contract assets (101) 1,021

Foreign currency remeasurement loss/(gain) on intercompany loans (3,788) 7,171

Changes in operating assets and liabilities that provided/(used) cash:

Accounts receivable (12,899) (4,490)

Contract assets (8,778) (15,329)

Inventories (22,912) (8,179)

Prepaid expenses and other current assets (5,195) (2,565)

Income taxes prepaid and receivable 2,769 743

Accounts payable 14,488 26,878

Accrued liabilities (23,259) (23,314)

Income taxes payable (11,034) (17,191)

Noncurrent receivables — (201)

Other noncurrent liabilities 288 (2,927)

Other, net (1,914) 3,719

Net cash provided by operating activities 2,992 34,833

Cash flows from investing activities:

Purchases of property, plant and equipment (21,170) (29,526)

Purchased software (12) (1,005)

Proceeds received from sale of assets — 3,243

Proceeds from sale of investment 1,660 —

Net cash used in investing activities (19,522) (27,288)

Cash flows from financing activities:

Proceeds from borrowings 83,000 171,995

Repayment of borrowings (85,000) (58,046)

Purchase of Treasury shares — (120,448)

Taxes paid in lieu of share issuance (1,333) (1,316)

Dividends paid (15,867) (16,693)

Net cash used in financing activities (19,200) (24,508)

Effect of exchange rate changes on cash and cash equivalents 729 8,369

Decrease in cash and cash equivalents (35,001) (8,594)

Cash and cash equivalents at beginning of period 112,350 115,283

Cash and cash equivalents at end of period $ 77,349 $ 106,689

Supplemental disclosure of cash flow information:

Cash paid for interest, net $ 12,451 $ 10,710

Cash paid for income taxes $ 23,056 $ 26,278

The following table presents the reconciliation of Net revenues to net revenues excluding the effect of changes in currency translation rates, a non-GAAP measure:

(in thousands, except percentages) Net revenues as reported, Q2 2026 (Decrease)/ increase due to changes in currency translation rates Q2 2026 revenues on same basis as Q2 2025 currency translation rates Net revenues as reported, Q2 2025 % Change compared to Q2 2025, excluding currency rate effects

Machine Clothing $ 178,710 $ 2,137 $ 176,573 $ 180,926 (2.4) %

Albany Engineered Composites 150,772 1,824 148,948 130,473 14.2 %

Consolidated total $ 329,482 $ 3,961 $ 325,521 $ 311,399 4.5 %

(in thousands, except percentages) Net revenues as reported, YTD 2026 (Decrease)/ increase due to changes in currency translation rates YTD 2026 revenues on same basis as 2025 currency translation rates Net revenues as reported, YTD 2025 % Change compared to 2025, excluding currency rate effects

Machine Clothing $ 344,662 $ 8,279 $ 336,383 $ 355,623 (5.4) %

Albany Engineered Composites 296,153 4,959 291,194 244,550 19.1 %

Consolidated total $ 640,815 $ 13,238 $ 627,577 $ 600,173 4.6 %

The following table presents Gross profit and Gross profit margin:

(in thousands, except percentages) Gross profit,

Q2 2026 Gross profit margin, Q2 2026 Gross profit,

Q2 2025 Gross profit margin, Q2 2025

Machine Clothing $ 80,947 45.3 % $ 83,759 46.3 %

Albany Engineered Composites 26,954 17.9 % 13,748 10.5 %

Consolidated total $ 107,901 32.7 % $ 97,507 31.3 %

Reconciliation of Net income/(loss) (GAAP) to Adjusted EBITDA (non-GAAP) for the current-year and comparable prior-year periods have been calculated as follows.

Three months ended June 30, 2026

(in thousands) Machine Clothing Albany Engineered

Composites Corporate expenses

and other Total Company

Net income/(loss) (GAAP) $ 34,705 $ 11,429 $ (28,430) $ 17,704

Interest expense/(income), net — — 6,068 6,068

Income tax expense — — 8,327 8,327

Depreciation and amortization expense 8,422 8,561 35 17,018

EBITDA (non-GAAP) 43,127 19,990 (14,000) 49,117

Restructuring costs and other 6,389 — 1,584 7,973

Foreign currency revaluation (gains)/losses 503 175 (521) 157

Strategic review and other transition expenses 20 109 739 868

Pre-tax loss/(income) attributable to noncontrolling interest — (289) — (289)

Adjusted EBITDA (non-GAAP) $ 50,039 $ 19,985 $ (12,198) $ 57,826

Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) (non-GAAP) 28.0 % 13.3 % — 17.6 %

Three months ended June 30, 2025

(in thousands) Machine Clothing Albany Engineered

Composites Corporate expenses

and other Total Company

Net income/(loss) (GAAP) $ 37,702 $ (2,674) $ (25,696) $ 9,332

Interest expense/(income), net — — 5,150 5,150

Income tax expense — — 4,254 4,254

Depreciation and amortization expense 7,973 13,455 323 21,751

EBITDA (non-GAAP) 45,675 10,781 (15,969) 40,487

Restructuring costs and other

3,015 520 (918) 2,617

Foreign currency revaluation (gains)/losses 3,467 21 5,449 8,937

Strategic review and other transition expenses — 28 — 28

Pre-tax (income) attributable to noncontrolling interest 41 (228) — (187)

Adjusted EBITDA (non-GAAP) $ 52,198 $ 11,122 $ (11,438) $ 51,882

Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) (non-GAAP) 28.9 % 8.5 % — 16.7 %

Six months ended June 30, 2026

(in thousands) Machine Clothing Albany Engineered

Composites Corporate expenses

and other Total Company

Net income/(loss) (GAAP) $ 66,657 $ 20,027 $ (53,531) $ 33,153

Interest expense/(income), net — — 11,535 11,535

Income tax expense — — 15,977 15,977

Depreciation and amortization expense 16,724 17,350 73 34,147

EBITDA (non-GAAP) 83,381 37,377 (25,946) 94,812

Restructuring costs and other

9,065 — 2,073 11,138

Foreign currency revaluation (gains)/losses 85 (41) (2,631) (2,587)

Strategic review and other transition expenses 541 109 2,493 3,143

Pre-tax (income) attributable to noncontrolling interest — (520) — (520)

Adjusted EBITDA (non-GAAP) $ 93,072 $ 36,925 $ (24,011) $ 105,986

Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) (non-GAAP) 27.0 % 12.5 % — 16.5 %

Six months ended June 30, 2025

(in thousands) Machine Clothing Albany Engineered

Composites

Corporate expenses

and other

Total Company

Net income/(loss) (GAAP)

$ 76,133 $ (1,058) $ (48,394) $ 26,681

Interest expense/(income), net — — 8,805 8,805

Income tax expense

— — 10,530 10,530

Depreciation and amortization expense

15,679 26,750 613 43,042

EBITDA (non-GAAP)

91,812 25,692 (28,446) 89,058

Restructuring costs and other

4,617 1,688 (918) 5,387

Foreign currency revaluation (gains)/losses 5,159 (144) 8,508 13,523

Strategic review and other transition expenses 182 (412) 40 (190)

Pre-tax (income) attributable to noncontrolling interest

120 (299) — (179)

Adjusted EBITDA (non-GAAP) $ 101,890 $ 26,525 $ (20,816) $ 107,599

Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) (non-GAAP) 28.7 % 10.8 % — 17.9 %

The following table presents the reconciliation of Machine Clothing's Adjusted EBITDA Margin to Adjusted EBITDA Margin excluding the effect of changes in currency translation rates, a non-GAAP measure:

(in thousands, except percentages) As reported, Q2 2026 (Decrease)/ increase due to changes in currency translation rates Q2 2026 on same basis as Q2 2025 currency translation rates As reported, Q2 2025

Machine Clothing Net revenues $ 178,710 $ 2,137 $ 176,573 $ 180,926

Machine Clothing Adjusted EBITDA (non-GAAP) 50,039 (1,112) 51,151 52,198

Adjusted EBITDA Margin (Adjusted EBITDA divided by net revenues) (non-GAAP) 28.0 % 29.0 % 28.9 %

Per share impact of the adjustments to earnings per share are as follows:

Three months ended June 30, 2026

(in thousands, except per share amounts) Pre tax

Amounts Tax

Effect After tax

Effect

Per share

Effect

Restructuring costs and other $ 7,973 $ 2,551 $ 5,422 $ 0.19

Foreign currency revaluation (gains)/losses 157 50 107 —

Strategic review and other transition expenses 868 278 590 0.02

Three months ended June 30, 2025

(in thousands, except per share amounts) Pre tax

Amounts Tax

Effect After tax

Effect Per share

Effect

Restructuring costs and other $ 2,617 $ 845 $ 1,772 $ 0.06

Foreign currency revaluation (gains)/losses 8,937 2,887 6,050 0.20

Strategic review and other transition expenses 28 9 19 0.00

Six months ended June 30, 2026

(in thousands, except per share amounts)

Pre tax

Amounts

Tax

Effect

After tax

Effect

Per share

Effect

Restructuring costs and other

$ 11,138 $ 3,620 $ 7,518 $ 0.26

Foreign currency revaluation (gains)/losses (2,587) (841) (1,746) (0.06)

Strategic review and other transition expenses 3,143 1,021 2,122 0.07

Six months ended June 30, 2025

(in thousands, except per share amounts)

Pre tax

Amounts

Tax

Effect

After tax

Effect

Per share

Effect

Restructuring costs and other

$ 5,387 $ 1,740 $ 3,647 $ 0.12

Foreign currency revaluation (gains)/losses 13,523 4,368 9,155 0.30

Strategic review and other transition expenses (190) (61) (129) (0.01)

The following table provides a reconciliation of Earnings per share attributable to the Company shareholders - Diluted (GAAP) to Adjusted earnings per share attributable to the Company shareholders - Diluted (non-GAAP):

Three months ended June 30, Six months ended June 30,

Per share amounts (Diluted) 2026 2025 2026 2025

Earnings per share attributable to Company shareholders - Diluted (GAAP) $ 0.61 $ 0.31 $ 1.14 $ 0.87

Adjustments, after tax:

Restructuring costs and other 0.19 0.06 0.26 0.12

Foreign currency revaluation (gains)/losses — 0.20 (0.06) 0.30

Strategic review and other transition expenses 0.02 — 0.07 (0.01)

Adjusted earnings per share attributable to Company shareholders - Diluted (non-GAAP) $ 0.82 $ 0.57 $ 1.41 $ 1.28

The calculations of net debt are as follows:

(in thousands) June 30, 2026 December 31, 2025 June 30, 2025

Long-term debt 450,669 455,663 444,686

Total debt 450,669 455,663 444,686

Cash and cash equivalents 77,349 112,350 106,689

Net debt (non-GAAP) $ 373,320 $ 343,313 $ 337,997

Free cash flow is defined as GAAP "Net cash provided by operating activities" in a period less "Purchases of property, plant and equipment" and "Purchased software" in the same period. Management believes free cash flow provides an important perspective on our ability to generate cash from our business operations and, as such, that it is an important financial measure for use in evaluating the Company's financial performance. Management uses free cash flow internally to assess overall liquidity. The following table illustrates the calculation of free cash flow:

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Net cash provided by operating activities $ (2,651) $ 32,714 $ 2,992 $ 34,833

Purchases of property, plant and equipment

(11,880) (13,929) (21,170) (29,526)

Purchased software (12) (1,005) (12) (1,005)

Free cash flow $ (14,543) $ 17,780 $ (18,190) $ 4,302

About Albany International Corp.

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses.

• Machine Clothing is the world’s leading producer of custom-designed, consumable belts essential for the manufacture of paper, paperboard, tissue and towel, pulp, non-wovens and a variety of other industrial applications.

• Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for demanding aerospace applications, supporting both commercial and military platforms.

Albany International is headquartered in Portsmouth, New Hampshire, operates 25 facilities in 12 countries, employs approximately 5,700 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

Non-GAAP Measures

This release, including the conference call commentary associated with this release, contains certain non-GAAP measures, that should not be considered in isolation or as a substitute for the related GAAP measures. Such non-GAAP measures include net revenues and percent change in net revenues, excluding the impact of currency translation effects; adjusted net revenues; Adjusted Gross profit/(loss); Adjusted Operating income/(loss);EBITDA, Adjusted EBITDA, and Adjusted EBITDA margin; Net debt; Net leverage ratio; Adjusted Net Income; and Adjusted Diluted earnings per share (or Adjusted EPS). Management believes that these non-GAAP measures provide additional useful information to investors regarding the Company’s operational performance.

Presenting Net revenues and change in Net revenues, after currency effects are excluded, provides management and investors insight into underlying revenues trends. Net revenues, or percent changes in net revenues, excluding currency rate effects, are calculated by converting amounts reported in local currencies into U.S. dollars at the exchange rate of a prior period. These current year revenues converted at prior year rates are then compared to the U.S. dollar amount as reported in the prior period.

EBITDA (calculated as net income excluding interest, income taxes, depreciation and amortization), Adjusted EBITDA, and Adjusted EPS are performance measures that relate to the Company’s continuing operations. The Company defines Adjusted EBITDA as EBITDA excluding costs or benefits that are not reflective of the Company’s ongoing or expected future operational performance. Such excluded costs or benefits do not consist of normal, recurring cash items necessary to generate revenues or operate our business. Adjusted EBITDA margin represents Adjusted EBITDA expressed as a percentage of net revenues.

Adjusted Net Income is a supplemental measure of our performance that is not required by, or presented in accordance with U.S. GAAP. The company defines Adjusted Net Income to exclude costs related to the review of strategic alternatives for its structures assembly business, which could include a potential sale of that portion of the business. Such excluded adjustments to profitability to future contracts do not consist of items that are considered normal or recurring in the course of continued business operations.

The Company defines Adjusted EPS as diluted earnings per share (GAAP), adjusted by the after tax per share amount of costs or benefits not reflective of the Company’s ongoing or expected future operational performance. The income tax effects are calculated using the applicable statutory income tax rate of the jurisdictions where such costs or benefits were incurred or the effective tax rate applicable to total company results.

The Company’s Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, and Adjusted EPS may not be comparable to similarly titled measures of other companies.

Net debt aids investors in understanding the Company’s debt position if all available cash were applied to pay down indebtedness.

We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

Forward-Looking Statements

This press release may contain statements, estimates, guidance or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” “should,” “look for,” “guidance,” “guide,” and similar expressions identify forward-looking statements, which generally are not historical in nature. Because forward-looking statements are subject to certain risks and uncertainties (including, without limitation, those set forth in the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q), actual results may differ materially from those expressed or implied by such forward-looking statements.

Forward-looking statements in this release or in the webcast include, without limitation, statements about macroeconomic conditions, including inflationary cost pressures, as well as global events, which include but are not limited to geopolitical events; paper-industry trends and conditions during 2026 and in future years; expectations in 2026 and in future periods of revenues, Adjusted Net Revenues, EBITDA, Adjusted EBITDA (both in dollars and as a percentage of net revenues), Adjusted Net Income, Adjusted EPS, income, gross profit, gross margin, cash flows and other financial items in each of the

Company’s businesses, and for the Company as a whole; the timing and impact of production and development programs in the Company’s AEC business segment and the revenues growth potential of key AEC programs, as well as AEC as a whole; the amount and timing of capital expenditures, future tax rates and cash paid for taxes, depreciation and amortization; future debt and net debt levels and debt covenant ratios; and changes in currency rates and their impact on future revaluation gains and losses. Furthermore, a change in any one or more of the foregoing factors could have a material effect on the Company’s financial results in any period. Such statements are based on current expectations, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

Statements expressing management’s assessments of the growth potential of its businesses, or referring to earlier assessments of such potential, are not intended as forecasts of actual future growth, and should not be relied on as such. While management believes such assessments to have a reasonable basis, such assessments are, by their nature, inherently uncertain. This release and earlier releases set forth a number of assumptions regarding these assessments, including historical results, independent forecasts regarding the markets in which these businesses operate, and the timing and magnitude of orders for our customers’ products. Historical growth rates are no guarantee of future growth, and such independent forecasts and assumptions could prove materially incorrect in some cases.

Investor Contact

Karen Blomquist

Director, Investor Relations

Tel +1 603.330.2461

EMAIL Karen.Blomquist@albint.com

Media Contact

Sheri Tripp

Senior Manager, Corporate Communications and Marketing

Tel +1 603.330.8317 EMAIL Sheri.Tripp@albint.com

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