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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) has completed a secondary offering, selling 1,566,644 shares of its Class A common stock, generating approximately $119 million in net proceeds for the Selling Stockholders. The offering did not involve shares sold by the Company itself, which retained its financial position. J.P. Morgan Securities LLC acted as the sole underwriter for the offering. No new capital was raised for Albany International, as the proceeds benefit the Selling Stockholders only.
Albany International Corp. (NYSE: AIN) reported strong second-quarter results for 2021, with revenues of $234.5 million, a 4% increase year-over-year. The Machine Clothing and Engineered Composites segments both performed well, despite challenges in the aerospace supply chain. The company raised its full-year guidance, projecting revenue between $880 and $910 million and adjusted EPS between $2.90 and $3.20. Net income was $31.4 million, or $0.97 per share, down slightly from $32.4 million, or $1.00 per share, a year earlier. The outlook reflects confidence in recovery and operational performance.
Spirit AeroSystems and Albany Engineered Composites have entered a technical collaboration to enhance hypersonic program developments. This partnership combines Spirit's high-temperature composites with Albany's expertise in 3D woven composites, aiming to produce scalable Thermal Protection Systems for hypersonic missions. The collaboration seeks to address challenges in the Department of Defense’s hypersonic programs by optimizing performance and reducing manufacturing risks. By leveraging their technologies, the companies hope to improve production efficiency and response times to meet industry demands.
Albany International Corp. (NYSE: AIN) will announce its 2021 second-quarter financial results on July 26, 2021, after market close. A webcast discussing these results is scheduled for 9:00 a.m. Eastern Time on July 27. The company specializes in engineered components through two main divisions: Machine Clothing, which produces fabrics for paper manufacturing, and Albany Engineered Composites, focused on aerospace applications. Albany operates 23 facilities globally and employs around 4,000 people. For more information, visit www.albint.com.
The Board of Directors of Albany International Corp. (NYSE: AIN) declared a quarterly dividend of $0.20 per share on its Class A and Class B Common Stock. This dividend is payable on July 8, 2021, to shareholders of record on June 7, 2021. Albany International, a leading manufacturer of engineered components, operates 23 plants across 11 countries and employs over 4,000 people. The company is known for its machine clothing used in paper manufacturing and engineered composites for aerospace applications.
Albany International Corp. (NYSE:AIN) reported Q1 2021 results, showing net sales of $222.4 million, a 6% decline YoY. The Engineered Composites segment faced a significant 25.2% drop in sales, while the Machine Clothing segment improved by 8.5%. Gross profit slightly decreased to $88.5 million, and net income surged to $27.6 million, or $0.85 per share, compared to $9.1 million ($0.28 per share) in Q1 2020. The company reaffirms its 2021 guidance, anticipating revenue between $850-$890 million and Adjusted EPS of $2.40-$2.80 despite risks from the global pandemic impacting aerospace markets.
Albany International Corp. (NYSE:AIN) is set to release its first-quarter financial results for 2021 on April 26, after market close. A conference call will follow on April 27 at 9:00 AM ET, available via webcast on the Company’s Investor Relations website. Albany International specializes in engineered components, with operations in 23 facilities across 11 countries and around 4,000 employees. It has two core segments: Machine Clothing for paper manufacturing and Albany Engineered Composites for aerospace applications. Further information is provided on their website.
Albany International Corp. (NYSE:AIN) will present at the Sidoti Spring 2021 Virtual Conference on March 24, 2021, at 10:00 a.m. Eastern Time. CEO Bill Higgins and CFO Stephen Nolan will discuss the company's initiatives. Interested listeners can access the live webcast on the company's Investor Relations website. A replay will be available for 90 days after the event. Albany International specializes in engineered components and operates in two sectors: Machine Clothing for paper production and Engineered Composites for aerospace applications.
The Board of Directors of Albany International Corp. (NYSE: AIN) has declared a quarterly dividend of $0.20 per share for Class A and Class B Common Stock. This dividend is payable on April 8, 2021, to shareholders of record by March 19, 2021.
Albany International is a leading developer of engineered components with significant operations in the paper and aerospace industries. The company operates 23 plants globally and employs over 4,000 people.
Albany International Corp. (NYSE:AIN) reported Q4 2020 results, showing net sales of $226.9 million, a 12% decline year-over-year. The Machine Clothing segment's Adjusted EBITDA remained stable despite a 5% revenue drop, while Engineered Composites faced a 28% revenue decline but improved margins. Net income was $27.5 million ($0.85 per share), down from $29.1 million ($0.90 per share) in Q4 2019. For 2021, the company anticipates total revenue between $850-$890 million, driven by the Machine Clothing segment, despite expected challenges in Engineered Composites.
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