Welcome to our dedicated page for Albany International news (Ticker: AIN), a resource for investors and traders seeking the latest updates and insights on Albany International stock.
Albany International Corp Class A (NYSE: AIN) is a global leader in the field of advanced textiles and materials processing. Headquartered in Rochester, New Hampshire, the company operates two major business units: Machine Clothing (MC) and Albany Engineered Composites (AEC). With operations spanning 18 plants across 11 countries, Albany International serves a diverse range of industries worldwide.
The Machine Clothing division is renowned for producing custom-designed fabrics and belts essential for the production processes in the paper, nonwovens, and other industries. Holding a substantial 30% global market share in its segment, MC outperforms its closest competitor by doubling their market share. The division’s recent acquisition of Heimbach has bolstered its market presence further, aiming to contribute significantly to revenue and earnings starting 2025.
Albany Engineered Composites, on the other hand, excels in the aerospace sector, supplying highly engineered composite parts. Notably, AEC is the sole provider of fan blades, fan cases, and other advanced components for the CFM LEAP engine, supporting both commercial and defense aerospace markets. The division is expected to deliver about 100,000 parts per year by the end of the decade, aligning with the projected annual production of approximately 1600 LEAP engines.
Financially, Albany International has demonstrated robust performance. For the third quarter of 2023, the company reported net revenues of $281.1 million, marking a 7.9% year-over-year increase. This growth was driven by sales upsurges in both business segments, alongside strategic acquisitions like that of Heimbach. Despite some macroeconomic challenges, particularly in Europe and China, MC managed to deliver excellent results.
Looking ahead, Albany International is optimistic about its growth trajectory, as indicated by its full-year 2023 guidance projecting total company revenue between $1.100 and $1.130 billion, and Adjusted EBITDA between $238 and $254 million. The company remains committed to innovation and operational excellence, aiming to capitalize on emerging opportunities across its diverse business segments.
Albany International Corp. (NYSE: AIN) has elected Russell E. Toney to its Board of Directors. Toney, who is 52, has extensive experience in various leadership roles, recently serving as President of the Specialty Business Group at Dover Corporation. His background includes over 13 years at General Electric, focusing on sales and operations, along with a strong engineering foundation from his education in Chemical Engineering and an MBA. Chairman Erland Kailbourne expressed confidence in Toney's ability to contribute significantly to the company's strategic vision and product innovation.
Albany International Corp. (NYSE: AIN) Chief Financial Officer Stephen Nolan will present at the J.P. Morgan Industrials Conference in New York City on March 17, 2022, at 3:50 p.m. Eastern Time. Interested investors can listen to the live webcast on the Company's Investor Relations website, with a replay available until April 16, 2022. Albany International, headquartered in Rochester, New Hampshire, specializes in engineered components and operates 23 plants globally, employing over 4,100 people. The company is known for its leading Machine Clothing segment and Albany Engineered Composites.
The Board of Directors of Albany International Corp. (NYSE: AIN) has declared a quarterly dividend of $0.21 per share on its Class A and Class B Common Stock. This dividend is scheduled to be payable on April 7, 2022, to shareholders of record as of March 21, 2022.
Albany International is a leader in engineered components, primarily in Machine Clothing for paper production and Albany Engineered Composites for advanced materials in aviation. The company operates 23 plants in 11 countries and employs over 4,100 people.
Albany International Corp. (NYSE: AIN) reported a solid fourth quarter for 2021, with net sales reaching $239.9 million, a 5.8% increase year-over-year. The Machine Clothing segment achieved record Adjusted EBITDA of approximately $237 million, while Engineered Composites generated revenues of $310 million with a 22% EBITDA margin. The company anticipates full-year 2022 revenue between $920 and $960 million, with Adjusted earnings per share projected between $2.80 to $3.30. Despite challenges such as supply chain issues, Albany remains optimistic about sustained growth and profitability.
Albany International Corp. (NYSE: AIN) announced that its subsidiary, Albany Engineered Composites (AEC), has secured a long-term agreement with Sikorsky Aircraft to produce the CH-53K Aft Transition assembly. This competitively bid contract spans ten years, covering Lots 7 through 14, with long-lead funding already commenced. The contract is expected to be finalized in Q1 2022, with initial deliveries scheduled for 2023. AEC aims to enhance fuel efficiency and environmental sustainability through its advanced engineered composite components.
Albany International Corp. (NYSE: AIN) has appointed Christina M. Alvord to its Board of Directors. Alvord, aged 54, has significant experience in manufacturing, including leadership roles at Vulcan Materials Company and GE Aviation. Her expertise in lean manufacturing and talent management is expected to enhance the company’s operations, especially in the Albany Engineered Composites segment. Albany International is a major player in engineered components for both the aerospace and paper production industries.
Albany International Corp. (NYSE:AIN) will announce its 2021 full-year and fourth-quarter financial results on February 15, 2022, after market close. A webcast to discuss the results will take place at 9:00 a.m. Eastern Time on February 16. Interested parties can join via the company's Investor Relations website or by calling 1-877-692-8955. A replay of the webcast will be available around noon Eastern Time on the same day. Albany International specializes in engineered components for various industries, including paper and aerospace.
The Board of Directors of Albany International (NYSE: AIN) has announced a quarterly dividend of $0.21 per share on its Class A and Class B Common Stock. This dividend is payable on January 10, 2022, to shareholders of record on December 28, 2021. Albany International is a leader in engineered components for various industries, notably in machine clothing and advanced materials for aerospace applications, with operations in 11 countries and over 4,000 employees.
Albany International Corp. (NYSE: AIN) and Safran Aircraft Engines have extended their partnership until 2046 to develop next-generation aircraft engines. This collaboration aims to support the aviation industry's commitment to achieving net-zero CO2 emissions by 2050. Initiated in 2006, their joint efforts have led to significant innovations, such as the advanced 3D-woven composite technology used in the LEAP engine. With three production plants established, they have delivered over 130,000 LEAP engine parts, reflecting their commitment to sustainability and improved fuel efficiency.
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