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 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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