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.
Overview
Albany International Corp (AIN) is a globally recognized name in advanced textiles and materials processing, operating through two distinct business segments that cater to vital industrial and aerospace applications. The company provides custom-designed fabrics and belts essential to process industries such as paper and nonwovens, while also manufacturing highly engineered composite parts that are integral to aerospace and defense systems. With a significant market presence and a focus on precision manufacturing and innovative processes, Albany International maintains robust relationships with key industrial players worldwide.
Machine Clothing Segment
The machine clothing segment is the backbone of Albany International's operations. This division specializes in the production of custom-designed textiles, including high-performance belts and fabrics, which are indispensable to the operational efficiency of production lines in the paper, nonwovens, and various other process industries. By leveraging advanced manufacturing techniques and close collaboration with its clients, the company secures a major share of the market. Its tailored solutions not only enhance production processes but also drive operational stability in industries that rely heavily on precision-engineered materials.
Engineered Composites Segment
The engineered composites segment represents a critical and rapidly evolving dimension of the business. This division concentrates on supplying highly engineered composite parts used in aerospace—and by extension, defense—applications. The company’s expertise in advanced material processing translates into the production of essential components such as fan blades and fan cases. Such components are key in supporting high-performance engines that demand durable, lightweight, and precisely engineered parts. This segment illustrates the company’s ability to adapt engineering expertise to meet the rigorous standards of the aerospace industry.
Global Operations and Market Position
Headquartered in Rochester, New Hampshire, Albany International operates a number of plants strategically located across multiple continents, including North America and Europe, among others. This international footprint underlines the company’s commitment to serving global markets with consistent quality and timely deliveries. Its diversified geographic presence not only mitigates regional risks but also strengthens its competitive positioning by catering to a broad spectrum of industrial needs. The integration of advanced processing technology and comprehensive market insights reinforces its status as a reliable long-term partner in the industrial and aerospace sectors.
Industry Impact and Competitive Landscape
Albany International’s influence in both the machine clothing and engineered composites segments is underpinned by its methodological expertise and industry-specific innovations. The company effectively addresses complex manufacturing challenges, embodies precision in product design, and adapts to evolving production requirements. Its market share in the machine clothing space is reflected in its capacity to supply consistent quality and customized solutions, while its expanding presence in aerospace composites demonstrates its on-going commitment to engineering excellence. In a market characterized by rigorous safety standards and the demand for high performance materials, the company differentiates itself through long-standing industry experience and specialization.
Key Strengths
- Innovative Manufacturing: Adoption of advanced textile and composite processing techniques enhances product reliability and performance.
- Customized Solutions: Provides tailor-made products that meet the stringent operational needs of diverse industrial sectors.
- Global Reach: Extensive international operations ensure diverse market penetration and robust supply chain resilience.
- Industry Expertise: Deep-rooted know-how in both process industries and aerospace applications supports sustained market relevance.
Conclusion
In summary, Albany International Corp stands out as a company with dedicated focus on advanced textiles and engineered composites. Its dual-segment business model addresses two distinct, high-precision markets, reinforcing its established expertise and market presence. By aligning its operational excellence with the critical needs of industrial and aerospace sectors, the company continues to offer strategic value through customized manufacturing processes and a global network of facilities.
Albany International (NYSE:AIN) has released its 2024 Sustainability Report, showcasing the company's dedication to sustainability and innovation. The report highlights several key achievements, including:
The company's participation in World Engineering Day for Sustainable Development, demonstrating their commitment to innovation-driven sustainability solutions for customers. A significant environmental milestone was achieved through participation in a US virtual power purchase agreement, which addresses approximately 25% of their emissions.
CEO Gunnar Kleveland emphasized the company's focus on operational sustainability and community engagement initiatives. Sustainability leader Anna Yates highlighted how sustainability serves as a core value and drives innovation, resilience, and business value. The comprehensive report, available at www.albint.com/sustainability, reflects Albany International's commitment to transparency and stakeholder engagement.
Albany International (NYSE:AIN) has been selected as one of 80 companies to be profiled for the World Engineering Day 2025 campaign. The campaign will launch on March 4, 2025, at UNESCO's Paris headquarters, focusing on the theme 'Shaping our sustainable future through engineering.'
The initiative, jointly operated by UNESCO and the World Federation of Engineering Organizations (WFEO), aims to highlight engineering's role in achieving the UN's 17 Sustainable Development Goals. The SJH Group will serve as the official media partner and broadcaster, hosting campaign content on worldengineeringday.net.
Gunnar Kleveland, President and CEO of Albany International, expressed honor in being selected as an official partner, emphasizing the company's commitment to innovation and sustainability as core values.
Albany International (NYSE:AIN) reported its Q4 2024 results with net revenues of $286.9 million, down 11.3% year-over-year. The company's net income was $17.7 million ($0.56 per share), compared to $30.5 million ($0.97 per share) in Q4 2023.
Key highlights include a new $250 million share repurchase program authorization and record full-year revenues of nearly $1.25 billion, driven by organic growth and the Heimbach acquisition. The company generated Free Cash Flow of $59 million in Q4 and $137 million for the full year.
For 2025, Albany International projects total revenue between $1.165-1.265 billion, with Machine Clothing revenue of $705-755 million and Albany Engineered Composites revenue of $460-510 million. The company expects Diluted Earnings Per Share between $3.00-3.40.
Albany International (NYSE: AIN) has announced its Board of Directors has declared a quarterly dividend of $0.27 per share on the Company's Class A Common Stock. The dividend will be payable on April 7, 2025, to shareholders who are on record as of March 21, 2025.
Albany International Corp. (NYSE:AIN) has announced plans to consolidate its manufacturing operations in Italy. The company will discontinue manufacturing operations at its leased facility in Ballo and transfer production to a facility in Merone, owned by Industrie Tessili Bresciane Srl, another Albany International affiliate.
The consolidation aims to rationalize costs and align engineered fabrics manufacturing capacity with local market demand and customer needs. Affected employees will be offered transfer opportunities or separation and outplacement assistance. The company's Sales, Service & Application teams in Italy will remain unaffected, ensuring continued customer support and expertise.
The final costs associated with this consolidation cannot be estimated until employee consultations are completed, after which the company will disclose the amount, type, and timing of any related expenses.
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.
FAQ
What is the current stock price of Albany Intl (AIN)?
What is the market cap of Albany Intl (AIN)?
What are the primary business segments of Albany International Corp?
How does the machine clothing segment support industrial processes?
What industries benefit from the engineered composites segment?
How does Albany International maintain its competitive position?
What role do global operations play in the company’s strategy?
What distinguishes Albany International’s manufacturing approach?
How important is customization in Albany International's product offerings?
How does Albany International address the challenges of its industry?
