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About Albany International Corp
Albany International Corp (NYSE: AIN) is a global leader in advanced textiles and materials processing, operating at the intersection of industrial manufacturing and aerospace innovation. Headquartered in Rochester, New Hampshire, the company has a global footprint with 18 manufacturing plants across 11 countries, enabling it to serve customers worldwide with localized expertise and operational efficiency.
Core Business Segments
1. Machine Clothing (MC)
Albany International’s Machine Clothing segment is the world’s foremost producer of custom-designed fabrics and belts essential for production processes in industries such as paper manufacturing, nonwovens, and other continuous process industries. With an estimated 30% global market share—double that of its nearest competitor—MC is a cornerstone of Albany’s business, offering high-margin, recurring revenue streams. The segment’s products are critical to optimizing efficiency, durability, and performance in industrial operations, making Albany International an indispensable partner for its customers.
2. Albany Engineered Composites (AEC)
The Albany Engineered Composites segment focuses on the design and manufacture of advanced composite components for the aerospace industry. AEC is a key supplier to the CFM LEAP engine program, providing highly engineered composite fan blades, fan cases, and other components. These lightweight, durable materials are crucial for improving fuel efficiency and reducing emissions in next-generation commercial aircraft. AEC’s integration into the aerospace supply chain positions it as a vital player in the industry, with significant growth potential as production rates for the LEAP engine program scale to meet global demand.
Market Position and Competitive Landscape
Albany International’s dual focus on industrial textiles and aerospace composites positions it uniquely in its markets. The MC segment benefits from high barriers to entry due to its specialized technology and long-standing customer relationships, while the AEC segment operates in a high-growth, innovation-driven industry with substantial opportunities for expansion. Competitors in the MC space include other industrial textile manufacturers, whereas AEC faces competition from aerospace composite producers. Albany differentiates itself through its technological leadership, global manufacturing capabilities, and deep integration into critical supply chains.
Global Reach and Operational Excellence
With operations spanning North America, Europe, South America, and Asia, Albany International leverages its global presence to serve a diverse customer base. Its 18 manufacturing plants in 11 countries ensure localized production and supply chain efficiency, enabling the company to adapt to regional market dynamics while maintaining consistent quality standards. This global footprint also provides resilience against market fluctuations and supply chain disruptions.
Strategic Vision
Albany International’s strategic vision is rooted in leveraging its expertise in advanced materials to drive innovation and value creation across its core markets. By maintaining leadership in the mature MC segment and scaling its presence in the high-growth aerospace composites market, the company aims to deliver sustainable, long-term growth while addressing critical industry challenges such as efficiency, sustainability, and performance optimization.
Albany International Corp. (NYSE: AIN) reported a strong Q4 2022 with net sales of $268.8 million, marking a 12% increase year-over-year, while full-year revenue reached over $1 billion. The Engineered Composites segment grew by 37%, driven by new business in the defense sector. However, operating income fell by 9.2% to $37.9 million, and net income attributable to the company decreased to $18.1 million ($0.58 per share), compared to $28.6 million ($0.89 per share) in Q4 2021. For 2023, the company anticipates revenue between $1.01 and $1.05 billion and adjusted EPS ranging from $3.10 to $3.60.
Albany International Corp. (NYSE: AIN) announced that CFO Stephen Nolan will present at the Cowen 44th Annual Aerospace/Defense and Industrials Conference on February 16, 2023, at 10:00 a.m. ET. Interested audiences can access the live webcast via the Company's Investor Relations website, with a replay available for 90 days post-event. Albany International specializes in engineered components through two main segments: Machine Clothing, the top producer of fabrics for paper manufacturing, and Albany Engineered Composites, which focuses on advanced materials for jet engines and airframes. Headquartered in Rochester, New Hampshire, the company operates 23 plants across 11 countries.
Albany International Corp. (NYSE: AIN) plans to release its financial results for the fourth quarter and full year of 2022 on February 13, 2023, after market close. A webcast is scheduled for 9:00 a.m. ET on February 14 to discuss these results, accessible via their Investor Relations website. The company specializes in engineered components, with a strong focus on custom-designed fabrics for paper manufacturing and advanced materials for aerospace applications. Albany International operates globally with approximately 4,200 employees.
The Board of Directors of Albany International Corp. (NYSE: AIN) has announced a quarterly dividend of $0.25 per share on Class A Common Stock, marking a 19% increase from the previous $0.21. The dividend will be payable on January 9, 2023, to shareholders of record as of December 27, 2022. This increase reflects Albany's strong cash generation and the Board’s confidence in the company's growth prospects, as stated by President and CEO Bill Higgins.
Albany International Corp. (NYSE: AIN) reported strong Q3 2022 results with a revenue increase of 12.1% year-over-year, totaling $261 million. Engineered Composites sales soared by nearly 37% driven by LEAP production and the CH-53K program. Despite $49.1 million in pension settlement charges impacting GAAP EPS, adjusted EPS rose significantly to $1.15 from $0.83 in Q3 2021. The company updated its full-year 2022 guidance, anticipating total revenue between $990 million and $1.015 billion, and adjusted EPS of $3.50 to $3.80.
Albany International Corp. (NYSE:AIN) will announce its third-quarter financial results for 2022 on October 24, 2022, after market closure. A webcast to discuss the results will take place on October 25, 2022, at 9:00 a.m. Eastern Time. Interested investors can access the event via the Investor Relations website or by dialing in at 1-844-291-6362. The replay of the webcast will be available on the company’s website shortly after the event, around noon Eastern Time.
The Board of Directors of Albany International Corp. (NYSE: AIN) has declared a quarterly dividend of $0.21 per share on Class A Common Stock. This dividend is payable on October 7, 2022, to shareholders on record as of September 6, 2022.
Albany International is a leader in engineered components, particularly in machine clothing and engineered composites, serving both commercial and military applications. The company is headquartered in Rochester, New Hampshire, operates 23 plants globally, and employs over 4,100 people.
Albany International Corp. (NYSE:AIN) reported its Q2 2022 results, showcasing a revenue increase to $261 million, up 11.5% year-over-year, driven by growth in the Engineered Composites segment. The company's GAAP earnings per share (EPS) rose to $1.25, with adjusted EPS at $1.06, an increase from $1.01 last year. While gross profit decreased slightly to $100.6 million, operating income grew to $50.7 million. The company raised its full-year revenue guidance to between $970 million and $1.01 billion, despite acknowledging risks from inflation and supply chain issues.
Albany International Corp. (NYSE:AIN) will announce its Q2 2022 financial results on July 25, 2022, after market close. A webcast discussing the results is scheduled for 9:00 a.m. ET on July 26, available on the Company's Investor Relations website. Those without internet access can dial in at 1-877-692-8955 and provide the access code 6740021. A replay will be accessible around noon ET on the same day. Albany International specializes in engineered components and operates 23 facilities globally, employing about 4,100 people.
Albany International (NYSE: AIN) will hold an Investor Day on May 25, 2022, at The Langham, Boston. The event will feature key speakers including Bill Higgins, Daniel Halftermeyer, Greg Harwell, and Stephen Nolan. A live web stream will start at 9:00 AM Eastern. Investors can register for the virtual event on the company’s Investor Relations website. Albany International is a leader in engineered components, specializing in Machine Clothing and Albany Engineered Composites.
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