Welcome to our dedicated page for Albany Intl news (Ticker: AIN), a resource for investors and traders seeking the latest updates and insights on Albany Intl stock.
Albany International Corp. (NYSE: AIN) generates news across advanced materials, industrial manufacturing, and aerospace and defense markets. The company reports through two core businesses: the Machine Clothing segment, which produces custom-designed consumable belts and fabrics for paper, paperboard, tissue and towel, pulp, non-wovens and other industrial applications, and the Albany Engineered Composites segment, which designs and manufactures advanced composite components, structures and assemblies for commercial and military aircraft, missiles, unmanned vehicles and related platforms.
News for AIN commonly includes quarterly earnings releases, segment performance updates, and commentary on key programs such as LEAP, F‑35, JASSM, LRASM, CH‑53K and Gulfstream-related work. Albany International has reported strategic reviews of its structures assembly business and the Salt Lake City production site, loss reserve adjustments on the CH‑53K program, and decisions to conclude specific contracts as it refines its aerospace portfolio.
Investors and industry followers will also see announcements on dividends on Class A common stock, share repurchases, capital expenditures, research and development spending, and climate and sustainability reporting. Additional news highlights include the relocation of the corporate headquarters to Portsmouth, New Hampshire, and Albany Engineered Composites’ achievement of U.S. Department of War CMMC Level 2 cybersecurity certification, which the company links to its role in defense supply chains.
This AIN news page on Stock Titan aggregates such updates in one place, making it easier to review financial results, strategic actions, program developments and corporate initiatives over time. Readers can use this feed to follow how Albany International manages its Machine Clothing and Engineered Composites segments, responds to market conditions in paper and aerospace end markets, and communicates with shareholders through press releases and regulatory disclosures.
Albany International (AIN) has been named to Forbes' America's Best Employers 2025 list, a prestigious recognition determined through an extensive independent survey conducted in collaboration with Statista. The survey analyzed over 6.5 million employer evaluations from a sample of more than 217,000 U.S. employees working for companies with at least 1,000 employees.
The final rankings were based on two types of evaluations: personal (from employees) and public (from friends, family, and industry peers), with personal evaluations carrying greater weight. President & CEO Gunnar Kleveland emphasized the company's commitment to fostering a supportive, diverse, and innovative workplace environment.
This recognition validates Albany International's dedication to cultivating talent, celebrating diversity, and encouraging innovation, positioning the company as an industry leader in employee satisfaction and workplace excellence.
Albany International (NYSE:AIN) has announced it will release its fourth-quarter 2024 financial results on Wednesday, February 26, 2025, after market close. The company will hold a webcast discussion of the results on Thursday, February 27, 2025, at 9:00 a.m. Eastern Time.
Investors can access the live webcast through the company's Investor Relations website at investors.albint.com. A replay of the webcast will be available on the same website starting at approximately noon Eastern Time on February 27, 2025.
Albany International (NYSE: AIN) has announced a quarterly dividend increase. The Board of Directors declared a quarterly dividend of $0.27 per share on the Company's Class A Common Stock, representing a 4% increase ($0.01 per share) from the previous dividend. The dividend will be paid on January 8, 2025, to shareholders of record as of December 17, 2024.
Heimbach Switzerland AG, an affiliate of Albany International Corp. (NYSE:AIN), has announced plans to initiate consultations regarding the proposed discontinuation of manufacturing operations in Olten, Switzerland. The company plans to transfer production to other Heimbach GmbH facilities. This consolidation aims to align paper machine clothing manufacturing capacity with local market demand and customer needs. The proposed action would affect 83 employees, who will be offered separation and outplacement assistance. The company cannot currently estimate associated costs until consultations conclude.
Albany International reported Q3 2024 results with net revenues of $298 million, up 6.1% year-over-year. Machine Clothing revenues grew 9.9% to $183 million, while Engineered Composites revenues increased 0.7% to $115 million. Gross profit declined 11.2% to $90 million, with operating income falling to $25 million from $40 million last year. Net income was $18 million ($0.57 per share). The company updated its 2024 guidance, projecting total revenue between $1.23-1.25 billion and adjusted EPS of $3.10-3.30.
Albany International Corp. (NYSE:AIN) has announced its schedule for the release of 2024 third-quarter results. The company will disclose its financial performance on Wednesday, October 30, 2024, after the market closes. Following this, Albany International will host a webcast to discuss the results on Thursday, October 31, 2024, at 9:00 a.m. Eastern Time.
Investors and interested parties are invited to participate in the live webcast through the company's Investor Relations website at investors.albint.com. For those who prefer a dial-in option, registration is available via a provided web link. An archive of the webcast will be accessible for replay on the website starting at approximately noon Eastern Time on October 31, 2024.
Albany International Corp. (NYSE:AIN) has released its 2023 Taskforce on Climate-related Financial Disclosures (TCFD) Report, outlining the company's strategy for managing climate-related risks and opportunities. Key highlights include:
- Commitment to near-term company-wide Scopes 1 & 2 emissions reduction goals aligned with the Science Based Targets initiative (SBTi)
- Waste reduction goals
- Disclosure of Scope 3 (value chain) emissions
The report demonstrates Albany International's support for customers' sustainability efforts through more efficient processes and sustainable end-products. CEO Gunnar Kleveland emphasized the importance of collaboration across the entire value chain for collective innovation. Anna Yates, Corporate EHS & Sustainability, highlighted the company's achievement of setting its first operational sustainability goals and completing its first Scope 3 emissions accounting.
Albany International (NYSE: AIN) has announced its participation in the 2024 Baird Global Industrial Conference in Chicago. The company's top executives, Gunnar Kleveland (President and CEO) and Robert Starr (Executive Vice President and CFO), will deliver a presentation at the event.
The presentation is scheduled for Thursday, November 14, 2024, at 10:50 a.m. Central Time. This conference provides an opportunity for Albany International to showcase its business and engage with industry professionals and investors.
The Baird Global Industrial Conference is a significant event in the industrial sector, bringing together companies and investors to discuss market trends, challenges, and opportunities. Albany International's participation underscores its commitment to maintaining open communication with the investment community and sharing insights about its operations and strategic direction.
Albany International Corp. (NYSE: AIN) has updated its full-year 2024 outlook, primarily due to revised expectations for its Engineered Composites (AEC) segment. The company anticipates a $24 million negative Estimate-at-Completion (EAC) adjustment in Q3 2024 and an additional $8 million reduction in second-half pre-tax earnings. Despite these challenges, AEC is expected to maintain high-teen EBITDA margins.
Updated 2024 guidance includes:
- Total revenue: $1.22-$1.26 billion
- Adjusted EPS: $2.90-$3.40
- Total Adjusted EBITDA: $230-$250 million
- Machine Clothing revenue: $740-$760 million
- AEC revenue: $480-$500 million
The company remains confident in its long-term prospects, citing strong demand, new orders, and a substantial backlog.
Albany International Corp. (NYSE: AIN) has appointed Merle Stein as President of its Machine Clothing business segment, effective September 1, 2024. Stein, 47, replaces Daniel Halftermeyer, who is stepping down to focus on the Heimbach acquisition integration and transition. With extensive experience in the paper and pulp industries, Stein has been with Albany since 2011, most recently serving as Division Chief Operating Officer.
Stein's appointment brings a strategic understanding of the markets and broad leadership experience to the role. CEO Gunnar Kleveland expressed confidence in Stein's ability to maintain the business's industry leadership while pursuing strategic goals. The transition is part of a planned succession, with Halftermeyer continuing to support the Heimbach integration and assist in the leadership transition.