UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ALBANY INTERNATIONAL CORP. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 216 Airport Drive, Rochester, New Hampshire OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Form 10-Q Commission file number: 1-10026 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission file number: 1-10026 ____________________________________________________ ...

Albany International Corp. (NYSE:AIN) Q4 2022 Earnings Conference Call February 14, 2023 9:00 AM ET Company Participants John Hobbs – Director-Investor Relations Bill Higgins – President and Chief Executive Officer Stephen Nolan – Chief Financial Officer Conference Call Participants Peter Arment – Baird Gautam Khanna – Cowen Sam Yellen – J.P. Morgan Pete Skibitski – Alembic Global Michael Ciarmoli – Truist Securities Operator Ladies and gentlemen, thank you for standing by. And welcome to the Albany Intern ...

Financial Data and Key Metrics Changes - Total company net sales for Q3 2022 were $260.6 million, an increase of 12.1% compared to $232.4 million in Q3 2021, with a 16.5% increase on a constant currency basis [14] - GAAP EPS was $0.34, down from $0.95 in the previous year, while adjusted EPS rose to $1.15 from $0.83 [20] - Adjusted EBITDA increased by 13% to $68.1 million compared to the same period last year [20] Business Segment Data and Key Metrics Changes - Engineered Composites segment saw a 41.6% increase in net sales, primarily driven by growth in LEAP and CH-53K programs [15] - Machine Clothing segment reported a 3.8% increase in net sales on a constant currency basis, with gross margins slightly up at 51.7% [14][16] - Adjusted EBITDA for Machine Clothing was $59.1 million, roughly flat compared to the previous year, while Engineered Composites adjusted EBITDA was $21.5 million, up from $16.3 million [20] Market Data and Key Metrics Changes - Global demand for paper machine clothing remained steady, with sales higher year-over-year in the Americas, Asia, and Europe [7] - The company noted healthy order bookings despite challenges from COVID lockdowns in China and the war in Ukraine [7] Company Strategy and Development Direction - The company aims to leverage its strong balance sheet for investments in new product development and organic growth [12] - Machine Clothing's strategy focuses on higher growth and value-added markets, while Engineered Composites is diversifying its customer base and pursuing new opportunities in defense and commercial applications [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of both business segments despite ongoing inflation and supply chain challenges [12] - The outlook for the Machine Clothing segment remains strong, with expectations of flat revenues for the full year due to currency impacts being offset by pricing and increased demand [22][23] Other Important Information - A significant pension settlement charge of $49.1 million impacted GAAP reported income [13] - The company completed the purchase of group annuity contracts to eliminate liabilities associated with US defined benefit pension plans [13] Q&A Session Summary Question: Follow-up on Machine Clothing margin outlook - Management acknowledged ongoing supply chain challenges and inflationary pressures but expressed confidence in managing costs effectively [30][31] Question: Drivers behind fourth quarter guidance - Management indicated that currency effects, seasonal shipping challenges, and rising input costs would impact fourth quarter performance [38][39] Question: Update on 787 program and production ramp - Management noted that production for the 787 remains idle, with no clear timeline for resumption [50][51] Question: LEAP program expectations for next year - Management confirmed no pinch points in production capacity and indicated that they would set production plans in collaboration with Safran [62][64] Question: Channel inventory status - Management reported no excess inventory in the channel and noted healthy order trends going into Q4 [66] Question: Growth opportunities in AEC - Management highlighted ongoing growth in LEAP and CH-53K programs, with several smaller defense opportunities also in the pipeline [68][72]

Albany International Corp. (NYSE:AIN) Q2 2022 Earnings Conference Call July 26, 2022 9:00 AM ET Company Participants John Hobbs - Director, Investor Relations Bill Higgins - President and Chief Executive Officer Stephen Nolan - Chief Financial Officer Conference Call Participants Michael Ciarmoli - Truist Securities Pete Skibitski - Alembic Global Gautam Khanna - Cowen Peter Arment - Baird Operator Ladies and gentlemen, thank you for standing by. Welcome to the Albany International Q2 2022 Earnings Conferen ...

Financial Data and Key Metrics Changes - Total company net sales for Q1 2022 were $244.2 million, a 9.8% increase from $222.4 million in Q1 2021. Adjusted for currency translation effects, net sales increased by 11.5% year-over-year [17] - GAAP EPS was $0.87, up from $0.85 in the same quarter last year, while adjusted EPS was $0.91 compared to $0.87 last year [9][23] - Gross profit for the quarter was $91.6 million, a 3.5% increase from the previous year, but gross margin declined by 130 basis points to 37.5% of net sales [18][19] Business Line Data and Key Metrics Changes - Aerospace composite segment net sales grew by over 20%, while machine clothing segment posted mid-single-digit growth compared to the previous year [9] - In machine clothing, net sales increased by 5.7% year-over-year, driven by growth in all grades of product. Engineered composites net sales grew by 23.1%, with LEAP and CH-53K contributing to the growth [17] - Machine clothing gross margin remained flat at 51.5%, while engineered composites gross margin declined from 16.4% to 13.6% due to raw material reserves and mix effects [19] Market Data and Key Metrics Changes - The company experienced a minor impact from the Russian invasion of Ukraine, with an estimated loss of $10 million in annual sales due to exiting the Russian market [28] - The company noted that inflationary pressures are expected to impact profitability, particularly due to increased costs in logistics and materials [11][26] Company Strategy and Development Direction - The company aims to invest in R&D and product development to drive organic growth and position itself as a technology leader in both segments [12] - In machine clothing, the company focuses on producing high-quality products and is the global market leader, with long-term demand expected to grow due to economic activity and a shift towards renewable materials [12] - The engineered composites segment is focused on bringing advanced materials to market, with significant opportunities in the aerospace sector, particularly with the LEAP program and CH-53K helicopter [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities despite the unpredictable global environment, emphasizing the adaptability of their teams in overcoming supply chain challenges [10][12] - The company maintains its full-year guidance for revenue and adjusted EBITDA, despite acknowledging risks related to inflation and potential de-stocking cycles [29][31] Other Important Information - The company has transitioned to a single class share structure, enhancing governance and shareholder equality [15][16] - The company returned over $50 million to investors in Q1, including dividends and share repurchases, while maintaining a net leverage ratio of about 0.52 [24] Q&A Session Summary Question: Visibility on LEAP program ramp-up - Management indicated strong visibility for the LEAP program, with significant revenue growth compared to the previous year, and expressed confidence in demand despite potential impacts from the Chinese market reopening [33][36] Question: Impact of China lockdowns on machine clothing revenue - Management reported no material impact from China lockdowns in Q1, but acknowledged potential risks for Q2. They noted that machine clothing has performed well despite economic uncertainties [37][54] Question: Guidance for machine clothing segment - Management maintained guidance, citing strong bookings and a solid position heading into Q2, but did not expect significant growth due to tough year-over-year comparisons [44][45] Question: Inflationary cost impacts and staffing levels - Management confirmed they are fully staffed in machine clothing and are adding personnel in engineered composites to support production growth [49][50] Question: Expectations for AEC margins and revenue - Management indicated that the path to achieving a 20% EBITDA margin is solid, driven by the absence of one-time reserves and expected improvements in program performance [73]