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) 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.
Albany International Corp. (NYSE:AIN) will announce its fourth-quarter financial results for 2020 on February 10, 2021, after market close. A webcast discussing the earnings will take place at 9:00 a.m. ET on February 11, accessible via the Company's Investor Relations website. For those unable to attend online, a phone dial-in option is also available. Albany International specializes in engineered components, with two main businesses: Machine Clothing and Albany Engineered Composites. The company operates 23 plants worldwide and employs around 4,000 people.
The Board of Directors of Albany International Corp. (NYSE: AIN) has declared a quarterly dividend of $0.20 per share for both Class A and Class B Common Stock. This dividend is payable on January 8, 2021, to shareholders on record as of December 22, 2020. Albany International operates in two core sectors: Machine Clothing and Albany Engineered Composites, supplying advanced materials for various applications, including paper manufacturing and aerospace. The company is headquartered in Rochester, New Hampshire, with 23 plants across 11 countries.
Albany International Corp. (NYSE: AIN) has elected Dr. J. Michael McQuade to its Board of Directors. Dr. McQuade, aged 65, is currently Vice President for Research at Carnegie Mellon University and has held senior roles in various companies, including United Technologies and 3M. Albany Chairman Erland Kailbourne emphasized that Dr. McQuade's expertise will enhance the company's research activities and innovation focus, particularly in Albany Engineered Composites. Albany International is a leading developer of engineered components with a global presence, operating 23 plants in 11 countries.
Albany International Corp. (NYSE: AIN) reported its third-quarter 2020 results, with net sales of $212 million, down 21.8% year-over-year due to pandemic impacts. Despite challenges, the company maintained healthy profit margins, achieving gross profit of $87.3 million. Operating income decreased by 30.4% to $38.8 million. Adjusted EPS dropped to $0.96 per share. Albany has a strong balance sheet and positive free cash flow. The full-year guidance for total revenue is set between $870 and $890 million, with adjusted EPS expected between $3.35 and $3.45.
Albany International Corp. (NYSE: AIN) will announce its third-quarter financial results for 2020 on October 28, following market close. A webcast to discuss these results is scheduled for October 29 at 9:00 a.m. ET, accessible via the company's Investor Relations website. Albany International specializes in engineered components, primarily through two businesses: Machine Clothing and Albany Engineered Composites, focusing on advanced materials for aerospace and paper production. The company operates 23 plants globally and employs around 4,600 people.
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