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. operates at the intersection of advanced industrial textiles and aerospace composites manufacturing, generating news across two distinct business segments. The company's announcements typically cover earnings performance from its machine clothing division—the world's largest producer of specialized fabrics for paper and nonwovens industries—alongside contract awards and production milestones from its aerospace composites business supplying critical components for commercial jet engines.
Investors following Albany International can expect quarterly earnings reports that detail performance across both the mature industrial textiles segment and the rapidly growing aerospace division. The company regularly announces dividend declarations, reflecting its established position in industrial manufacturing. News coverage includes contract extensions and awards in aerospace composites, particularly related to the CFM LEAP engine program where Albany serves as sole supplier for fan blades and cases. Corporate governance updates, executive transitions, and strategic initiatives also generate material announcements.
The company's news flow reflects its diversified business model, with developments in paper industry demand and capacity affecting machine clothing results, while commercial aviation production rates and aircraft deliveries drive aerospace composites performance. Material events covered through regulatory filings include significant contract wins, manufacturing facility developments, and strategic business decisions that impact either segment. Climate and sustainability reporting has become a regular component of the company's disclosure practices, addressing environmental considerations across global manufacturing operations.
This news page aggregates all material announcements, earnings releases, and corporate updates for Albany International, providing a comprehensive view of developments affecting both business segments. Bookmark this page to track how industrial manufacturing trends and aerospace production dynamics influence the company's operational performance and strategic direction.
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.
Albany International Corp. (NYSE: AIN) has announced a quarterly dividend declaration. The Board of Directors has approved a dividend of $0.26 per share on the Company's Class A Common Stock. This dividend will be payable on October 7, 2024, to shareholders who are on record as of September 3, 2024. This announcement demonstrates Albany International's commitment to returning value to its shareholders through regular dividend payments.
Albany International Corp. (NYSE:AIN) reported Q2 2024 results with net revenues of $332.0 million, up 21.1% year-over-year. Net income was $24.6 million ($0.79 per share), compared to $26.7 million ($0.85 per share) in Q2 2023. Adjusted EPS was $0.89 in both periods.
Key highlights:
- Machine Clothing revenues grew 21.6% to $194 million, driven by Heimbach acquisition
- Engineered Composites revenues increased 20.5% to $138.4 million
- Gross profit rose 9.4% to $112.4 million, but gross margin declined over 350 basis points
- Adjusted EBITDA decreased 3% to $63.1 million
The company reaffirmed its full-year 2024 guidance, including total revenue of $1.26-$1.33 billion and adjusted EPS of $3.55-$4.05.
Albany International Corp. (NYSE: AIN) has appointed Christopher Stone as President of Albany Engineered Composites, Inc., effective August 12, 2024. Stone, 52, brings extensive experience in the A&D industry, with a focus on manufacturing, supply chain management, and organizational transformation. He previously served as Vice President & Chief Supply Chain Officer at Lockheed Martin and held leadership positions at Aerojet Rocketdyne and Textron companies. Stone replaces Gregory Harwell in this role. The company expects Stone's strategic capabilities and operational expertise to contribute to AEC's competitive advantage in on-time delivery of quality products.
Albany International Corp. (NYSE:AIN) has announced its schedule for releasing 2024 second-quarter results. The company will disclose its financial performance on Tuesday, August 6, 2024, after market close. Following this, Albany International will host a webcast on Wednesday, August 7, 2024, at 9:00 a.m. Eastern Time to discuss the results.
Investors and interested parties can access the live webcast through the company's Investor Relations website at investors.albint.com. For those who prefer to dial in, 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 August 7, 2024.
Albany International Corp. (NYSE: AIN) has announced a quarterly dividend of $0.26 per share on its Class A Common Stock, payable on July 8, 2024, to shareholders of record on June 7, 2024.
Albany International Corp. (NYSE:AIN) President and CEO will speak at the Bank of America Transportation, Airlines, and Industrials Conference on May 15, 2024. Interested parties can listen to the webcast via the Investor Relations website.
Albany International Corp. (NYSE:AIN) reported strong Q1 results for 2024, with revenue reaching $313 million, up 16.4% over the prior year. Machine Clothing and Engineered Composites segments showed growth, but overall gross margin declined due to lower margins at Heimbach. Adjusted diluted EPS was $0.90. The company reaffirmed its full-year 2024 guidance.
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