AIN

EX-99.1

2 ain-20260901xex991.htm

EX-99.1

Document

Exhibit 99.1

Albany International Announces Successful Completion of its Strategic Review and Schedules Investors Call

•Strategic review concludes with an amended contract on CH-53K® helicopter, new business wins, and improved site profitability

•Reverses reach-forward loss and updates outlook

•Contract modification expected to generate positive cash flow beginning in 2027

•Schedules an Investor Call for September 2, 2026, at 8:30 AM

PORTSMOUTH, N.H.--(BUSINESS WIRE) — September 1, 2026 — Albany International Corp. (NYSE:AIN) today announced the completion of the strategic review of its Amelia Earhart Drive facility in Salt Lake City, Utah. Following new business wins, a renegotiated Boeing 787 contract for one-piece composite fuselage frames, and new contract terms with Sikorsky, a Lockheed Martin Company, on the CH-53K® program, Albany will retain the facility and end the previously announced strategic review. Under the new agreement with Sikorsky, Albany will continue with its current production scope on CH-53K, having improved the financials for the program. Albany partnered with Sikorsky to ensure continuity of production of these heavy lift helicopters, delivering a critical new capability for the United States Marine Corps.

Gunnar Kleveland, Albany International’s President and Chief Executive Officer, said, “We are pleased to announce the completion of our strategic review of the Amelia Earhart Drive facility, which enables the continued execution of the CH-53K program through an amended contract. The contract reduces the program risk, generates positive cash flow, stabilizes 53K aircraft production, and offsets projected losses while maintaining support for our longstanding customer, Sikorsky. Throughout this process, our goal has been to maximize shareholder value while continuing to support our valued customers, as we carefully evaluated multiple alternatives. After reviewing all available options, we concluded that retaining the facility and continuing operations under the amended contract delivers the strongest overall economic outcome. We appreciate the continued engagement and partnership with Sikorsky through this process, which was critical to achieving an outcome that benefits both companies and our troops in the air and on the ground. The outcome of this process allows us to retain a strategically important and well-capitalized manufacturing facility that is well positioned to deliver on a number of existing growth programs and is a key enabler of future growth.”

Chris Stone, President of Albany Engineered Composites said, “In support of that growth, we have entered a contract extension for the composite fuselage frames on the Boeing 787 Dreamliner, a notable legacy program for the Salt Lake City facility. In addition, we have also recently secured new defense contracts with a strategic customer that will expand our program portfolio and contribute to the long-term, balanced growth of our Salt Lake City business.”

Mr. Stone continued, "The conclusion of the strategic review and retention of the Amelia Earhart Drive facility allows us to retain a world-class facility supporting critical A&D customers and programs, including the CH-53K program. Just as importantly, it ensures capacity and expertise to support a growing pipeline of commercial aerospace, defense, and advanced air mobility opportunities with several strategic customers that leverage our composite expertise. The extension with Boeing and the new defense contracts we have recently secured are key examples of the growth pipeline in front of us. I could not be prouder of the performance and professionalism of the team in Salt Lake City. Throughout this process, they remained focused on delivering for our customer and executing at a high level. Their professionalism and dedication played a key role in preserving the strong relationship we have built with our customer and in enabling this outcome. In addition, I’d like to thank Sikorsky for their continued support and collaboration throughout the process and Guggenheim Securities, who served as exclusive financial advisor to Albany International Corp. in connection with its strategic review. I am excited for the future of this site and our business as a whole."

Updated Outlook for the Third Quarter of 2026

•Consolidated net revenue outlook remains unchanged at between $320 million and $330 million

•Machine Clothing net revenue outlook remains unchanged at between $165 million and $170 million

•Engineered Composite net revenue outlook remains unchanged at between $155 million and $160 million

•Adjusted EPS increased from prior guidance of $0.60 to $0.70 to between $1.40 and $1.50

•Third-quarter effective tax rate of 31.5%

Outlook for the Fourth Quarter of 2026

•Consolidated net revenue between $325 million and $335 million

•Machine Clothing net revenue between $170 million and $175 million

•Engineered Composite ne

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.

104Inline 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 va

ain-20260430

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:    April 30, 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 April 30, 2026 Albany International issued a news release reporting first-quarter 2026 financial results. The Company will host a webcast to discuss earnings at 8:30 a.m. Eastern Time on Wednesday April 30, 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 April 30, 2026 reporting first-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: April 30, 2026

EXHIBIT INDEX

Exhibit No.

Description

99.1 News release dated April 30, 2026 reporting first-quarter 2026 financial results.

104Inline XBRL cover page.

Exhibit 99.1

Albany International Reports First-Quarter 2026 Results

•Q1 2026 net revenue of $311.3 million, compared to $288.8 million in Q1 2025.

•Q1 2026 net income attributable to the Company of $15.3 million, or diluted earnings per share (EPS) of $0.54, compared to net income of $17.4 million, or diluted EPS of $0.56, in the prior year.

•Adjusted EBITDA of $48.2 million in Q1 2026 and Adjusted EPS per diluted share of $0.60, compared to $55.7 million and $0.73 in Q1 2025.

•Paid $7.9 million in dividends and invested $9.3 million in capital in the first quarter, continuing its commitment of balanced capital allocation.

PORTSMOUTH, N.H.--(BUSINESS WIRE)--April 30, 2026 — Albany International Corp. (NYSE:AIN) today reported operating results for its first quarter of 2026, which ended March 31, 2026.

Gunnar Kleveland, Albany International’s President and Chief Executive Officer said, “Over the past year, we have taken steps to de-risk the business by addressing underperforming areas and sharpening our focus on profitable growth. This has driven a strong start to 2026, with results at the top end of our expectations.”

Kleveland continued, "Momentum built throughout the first quarter, with a particularly strong finish in March. Machine Clothing was able to recover a significant portion of lost production related to an equipment failure and Engineered Composites delivered solid performance driven by broad based volume growth across both commercial and defense.”

Consolidated Results

The Company’s net revenues were $311.3 million in the first quarter of 2026, compared to $288.8 million in the prior year, or $302.1 million on a same currency basis. The increase was primarily driven by higher volume in the Engineered