Machine learning predictions based on historical earnings data and price patterns
1-Day Prediction
-6.77%
$51.12
0% positive prob.
5-Day Prediction
-6.45%
$51.29
0% positive prob.
20-Day Prediction
-6.88%
$51.06
0% positive prob.
SEC 8-K filings with transcript text
Feb 24, 2026 · 100% conf.
1D
-6.77%
$51.12
Act: +3.79%
5D
-6.45%
$51.29
Act: +6.97%
20D
-6.88%
$51.06
ain-20260224325 Corporate DrivePortsmouthNew HampshireFALSE000081979300008197932026-02-242026-02-240000819793ain:ClassACommonStockMember2026-02-242026-02-24
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: February 24, 2026 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-1002614-0462060 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S Employer Identification No.)
325 Corporate Drive Portsmouth, New Hampshire 03801 (Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Class A Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations and Financial Condition. On February 24, 2026 Albany International issued a news release reporting fourth quarter 2025 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on February 24, 2026. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated February 24, 2026 reporting fourth-quarter 2025 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:/s/ Willard C. Station
Name:Willard C. Station Title:Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: February 24, 2026
Exhibit No.Description 99.1News release dated February 24, 2025 reporting fourth-quarter 2024 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Fourth-Quarter 2025 Results
•Q4 2025 net revenue of $321.2 million, compared to $286.9 million in Q4 2024. •Q4 2025 net income of $14.0 million, or earnings per share (EPS) of $0.49, compared to net income of $17.7 million, or EPS of $0.57, in the prior year. •Adjusted EBITDA of $57.3 million in Q4 2025 and Adjusted EPS per diluted share of $0.65, compared to $50.0 million and $0.58 in Q4 2024. •Repurchased $16.8 million, or 360,267 shares of common stock in the fourth quarter of 2025, paid $7.9 million in dividends and invested $22.7 million in capital in the fourth quarter, continuing its commitment of balanced capital allocation.
Portsmouth, N.H. — (BUSINESS WIRE) — February 24, 2026 — Albany International Corp. (NYSE:AIN) today reported operating results for its full year and for its fourth quarter of 2025, which ended December 31, 2025.
Gunnar Kleveland, Albany International’s President and Chief Executive Officer said, “We are underway with the previously announced strategic review of our structures assembly business and its associated production site in Salt Lake City, and have engaged an advisor to help guide this transaction. This action will position the remaining Aerospace portfolio to align more closely with our strategic priorities and to pursue growth opportunities where our differentiated technologies provide a clear competitive advantage and stronger returns.”
Kleveland continued, "Our strong balance sheet continues to support Albany’s culture of innovation, as we develop advanced materials with broad and expanding applications in both Machine Clothing and Engineered Composites. In Machine Clothing, where our service model, quality, and product perfo
Oct 28, 2025
ain-20251028325 Corporate DrivePortsmouthNew HampshireFALSE0000819793NYSE00008197932025-10-282025-10-28
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: October 28, 2025 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
325 Corporate Drive Portsmouth, New Hampshire 03801 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
216 Airport Drive Rochester, New Hampshire (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition.
On October 28, 2025, Albany International Corp. (the "Company") issued a press release announcing it would initiate a review of strategic alternatives for its structures assembly business and that it will recognize an approximately $147 million loss reserve adjustment in the third quarter of 2025 related to performance on its CH-53K contract within its Engineered Composites (AEC) business segment.
Item 7.01. Regulation FD Disclosure.
A copy of the press release is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is being furnished herewith:
99.1 Press release dated October 28, 2025.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Willard Station
Name: Willard Station Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: October 3, 2024
Exhibit No. Description
99.1Press release dated October 28, 2025.
104Inline XBRL cover page.
Jul 30, 2025
ain-20250730FALSE000081979300008197932025-07-302025-07-30
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: July 30, 2025 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On July 30, 2025 Albany International issued a news release reporting second quarter 2025 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Thursday July 31, 2025. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated July 30, 2025 reporting second-quarter 2025 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Jairaj Chetnani
Name: Jairaj Chetnani Title: Chief Financial Officer, Vice President Investor Relations and Treasurer (Principal Financial Officer)
Date: July 30, 2025
Exhibit No. Description
99.1News release dated July 30, 2025 reporting second-quarter 2025 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Second-Quarter 2025 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--July 30, 2025 — Albany International Corp. (NYSE:AIN) today reported operating results for its second quarter of 2025, which ended June 30, 2025.
"Overall, I am encouraged with our progress this year. Our business segment leaders are performing well as they restructure, invest and strengthen their operations. Our second quarter financial results lagged our expectations, but the performance was largely impacted by certain timing and operational issues and we are confident in our recovery," said President and CEO, Gunnar Kleveland.
"In Machine Clothing, despite some second quarter timing and market headwinds, the business delivered expected returns on the lower volume and showed growth from the first quarter. AEC delivered strong sequential quarter growth and continues to accelerate its disciplined long-term operational strategy" concluded Kleveland.
For the second quarter ended June 30, 2025: •Net revenues were $311 million, down 6.2%, or 7.4% after adjusting for currency translation, when compared to the prior year. MC's net revenues decreased 6.5%, which was primarily driven by reduced demand in Asia and unplanned equipment downtime in one of our production facilities. AEC's net revenues decreased 5.7%, primarily driven by reductions on certain commercial and space programs, which was partially offset by higher revenues on CH-53K and other programs. •Gross profit of $98 million was 13.2% lower than the $112 million reported for the same period of 2024; overall gross margin decreased 260 basis points primarily due to changes in the estimated profitability of long-term contracts at AEC. •Selling, General, and Administrative (SG&A) expenses were $59 million, slightly higher than prior yea
Apr 30, 2025
ain-20250430216 Airport DriveRochesterNew HampshireFALSE0000819793NYSE00008197932025-04-302025-04-300000819793ain:ClassACommonStockMember2025-04-302025-04-30
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: April 30, 2025 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On April 30, 2025 Albany International issued a news release reporting first quarter 2025 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Thursday May 1, 2025. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated April 30, 2025 reporting first-quarter 2025 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)
Date: April 30, 2025
Exhibit No. Description
99.1News release dated April 30, 2025 reporting first-quarter 2025 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports First-Quarter 2025 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--April 30, 2025 — Albany International Corp. (NYSE:AIN) today reported operating results for its first quarter of 2025, which ended March 31, 2025.
"Overall, I am pleased to report that our businesses are executing to the plan that we laid out at the start of this transition year. Our new business segment leaders are performing well as they restructure and strengthen their respective operations. Machine Clothing continues to deliver consistent strong results, and the integration of Heimbach is proceeding to plan. We expect to see the benefits of the Heimbach integration efforts accelerate into the second half of this year as our actions take effect. AEC is executing well on its current portfolio of programs, and the segment continues to win new business. The team is making progress on process improvements on our CH-53K and Gulfstream programs, and we had lower EAC adjustments in the quarter," said President and CEO, Gunnar Kleveland.
"While we see uncertainty in the markets, we were not affected by tariffs or other disruptions in the first quarter. Due to our mostly regional set up for both suppliers and customers, the overall direct impact of tariffs, as they currently stand, is not expected to materially impact our financial or operational performance," concluded Kleveland.
For the first quarter ended March 31, 2025: •Net revenues were $289 million, down 7.8%, or 6.9% after adjusting for currency translation, when compared to the prior year. MC's net revenues decreased 5.7%, which was primarily driven by decreased sales in publication, tissue and pulp grades. AEC's net reven
Feb 26, 2025
ain-20250226FALSE000081979300008197932025-02-262025-02-260000819793ain:ClassACommonStockMember2025-02-262025-02-26
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: February 26, 2025 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-1002614-0462060 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Class A Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations and Financial Condition. On February 26, 2025 Albany International issued a news release reporting fourth quarter 2024 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on February 27, 2025. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated February 26, 2025 reporting fourth-quarter 2024 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:/s/ Robert D. Starr
Name:Robert D. Starr Title:Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: February 26, 2025
Exhibit No.Description 99.1News release dated February 26, 2025 reporting fourth-quarter 2024 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Fourth-Quarter 2024 Results
Board Authorizes New $250 Million Share Repurchase Program
ROCHESTER, N.H. — (BUSINESS WIRE) — February 26, 2025 — Albany International Corp. (NYSE:AIN) today reported operating results for its full year and fourth quarter of 2024, which ended December 31, 2024.
"We continue to perform well in both our businesses, as evidenced by strong results at Machine Clothing and ongoing operational progress steered by new leadership at Engineered Composites," said Gunnar Kleveland, President and Chief Executive Officer. "For the full year we reported record revenues of nearly one and a quarter billion dollars driven by organic growth and our Heimbach acquisition. With increased focus on working capital and cash flow, we generated Free Cash Flow of $59 million in the fourth quarter, and $137 million for the full year underlining the strength of the combined businesses. Our balance sheet continues to be in excellent shape giving us the ability to execute our growth strategy.
"With our proven ability to both grow and generate excess cash, as part of our capital allocation strategy, we have re-initiated our share repurchase program. In the fourth quarter of 2024 we repurchased $15 million of shares. The Board has also authorized a new share repurchase program which supersedes our current program and is now up to $250 million."
For the fourth-quarter ended December 31, 2024:
•Net revenues were $286.9 million, down 11.3%, or 11.0% after adjusting for currency translation, when compared to the prior year. MC's net revenues decreased 1.9%, driven by decreased sales in packaging and publication grades, in part offset by increased sales in engineered fabrics. AEC's net revenues decreased 25.0%, driven by a
Oct 30, 2024
ain-20241030216 Airport DriveRochesterNew HampshireFALSE0000819793NYSE00008197932024-10-302024-10-300000819793ain:ClassACommonStockMember2024-10-302024-10-30
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: October 30, 2024 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On October 30, 2024 Albany International issued a news release reporting third quarter 2024 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Thursday October 31, 2024. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated October 30, 2024 reporting third-quarter 2024 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: October 30, 2024
Exhibit No. Description
99.1News release dated October 30, 2024 reporting third-quarter 2024 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Third-Quarter 2024 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--October 30, 2024 — Albany International Corp. (NYSE:AIN) today reported operating results for its third quarter of 2024, which ended September 30, 2024.
"I am pleased with the overall results of the quarter as we focused on operational excellence evidenced by strong results at Machine Clothing and Free Cash Flow generation of $78 million year-to-date. We are addressing the issues announced earlier this month, with specific emphasis on our Salt Lake Facility. Revenues of $298 million was up $17 million or 6.1% over prior year," said President and CEO, Gunnar Kleveland.
"In Machine Clothing, revenues of $183 million grew year-over-year, driven by our Heimbach acquisition. Our global order backlog remains stable and we continue to make progress with the integration at Heimbach.
"In Engineered Composites, we recorded revenues of $115 million, while our profitability was impacted by our previously announced EAC adjustments. Our backlog is well over $1 billion and longer term we continue to see growth in our defense and commercial programs" concluded Kleveland.
For the third quarter ended September 30, 2024: •Net revenues were $298 million, up 6.1%, or 5.8% after adjusting for currency translation, when compared to the prior year. MC's net revenues increased 9.9%, reflecting a full quarter of Heimbach Net revenues, which was partially offset by lower net revenues in the rest of the segment due to decreased sales in packaging and publication grades. AEC's net revenues were largely in line with the prior year, increasing 0.7%, primarily driven by growth on certain commercial and space programs, which w
Oct 3, 2024
ain-20241003216 Airport DriveRochesterNew HampshireFALSE0000819793NYSE00008197932024-10-032024-10-030000819793ain:ClassACommonStockMember2024-10-032024-10-03
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: October 3, 2024 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition.
On October 3, 2024, Albany International Corp. (the "Company") issued a press release providing a preliminary update to its full year outlook largely to reflect revised revenue and profitability expectations for the aerospace business within its Engineered Composites (AEC) segment.
Item 7.01. Regulation FD Disclosure.
A copy of the press release is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is being furnished herewith:
99.1 Press release dated October 3, 2024.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: October 3, 2024
Exhibit No. Description
99.1Press release dated October 3, 2024.
104Inline XBRL cover page.
Aug 6, 2024
ain-20240806216 Airport DriveRochesterNew HampshireFALSE0000819793NYSE00008197932024-08-062024-08-060000819793ain:ClassACommonStockMember2024-08-062024-08-06
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: August 6, 2024 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5800
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On August 6, 2024 Albany International issued a news release reporting second quarter 2024 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Wednesday August 7, 2024. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated August 6, 2024 reporting second-quarter 2024 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: August 6, 2024
Exhibit No. Description
99.1News release dated August 6, 2024 reporting second-quarter 2024 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Second-Quarter 2024 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--August 6, 2024 — Albany International Corp. (NYSE:AIN) today reported operating results for its second quarter of 2024, which ended June 30, 2024.
"Overall, we had another good quarter as our businesses delivered strong results and are responding well to their industry challenges," said President and CEO, Gunnar Kleveland. "Revenue of $332 million was up $58 million or 21.1% over prior year due to the inclusion of Heimbach and sales growth in Engineered Composites.
"In Machine Clothing, revenues at $194 million grew year-over-year, driven by our Heimbach acquisition, slightly offset by lower organic demand, primarily in Europe and North America. Our global order backlog remains stable. We continue to make progress with the integration at Heimbach.
"In Engineered Composites, we delivered 20% year-over-year top line growth as our current programs ramp up. We see growth in our commercial markets, especially in space and other emerging platforms. Our defense business is also growing, primarily the CH-53K and JASSM platforms, partially offset by the Joint Strike Fighter program" concluded Kleveland.
For the second quarter ended June 30, 2024: •Net revenues were $332.0 million, up 21.1%, or 21.6% after adjusting for currency translation, when compared to the prior year. MC's net revenues increased 21.6%, driven by Heimbach net revenues, which was partially offset by lower net revenues in the rest of the segment, due to decreased sales in pulp, packaging and publication grades, net of increased sales in tissue grades and engineered fabrics. AEC's net revenues increased 20.5%, primarily driven by growth on CH
Apr 29, 2024
ain-20240429216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932024-04-292024-04-290000819793ain:ClassACommonStockMember2024-04-292024-04-290000819793ain:ClassBCommonStockMember2024-04-292024-04-29
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: April 29, 2024 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5800
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On April 29, 2024 Albany International issued a news release reporting first quarter 2024 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday April 30, 2024. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated April 29, 2024 reporting first-quarter 2024 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: April 29, 2024
Exhibit No. Description
99.1News release dated April 29, 2024 reporting first-quarter 2024 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports First-Quarter 2024 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--April 29, 2024 — Albany International Corp. (NYSE:AIN) today reported operating results for its first quarter of 2024, which ended March 31, 2024.
"We had another good quarter as our businesses delivered solid results and are executing to their plans," said President and CEO, Gunnar Kleveland. "Revenue of $313 million, was up $44 million or 16.4% over prior year due to the inclusion of Heimbach and sales growth in Engineered Composites.
"In Machine Clothing, North American markets remain strong. For the quarter we experienced lower organic demand due to continued softness in Europe. However, we have seen an improvement in our global order backlog. We also continue to make excellent progress on the integration of Heimbach.
"Engineered Composites is continuing to execute on its long-term strategy of delivering top-line growth. Revenues increased more than 10% over prior year, driven by strength in our commercial programs, including space and other emerging platforms. We continue to see a ramp up in our programs as the year progresses.
"Our Q1 performance was in line with our plan and we are reaffirming our guidance for the year," concluded Kleveland.
For the first quarter ended March 31, 2024: •Net revenues were $313.3 million, up 16.4%, or 16.6% after adjusting for currency translation, when compared to the prior year. MC's net revenues increased 20.9%, driven by Heimbach net revenues, which was partially offset by lower net revenues in the rest of the segment, driven primarily by weakness in publication globally and in all grades in Europe. AEC'
Feb 26, 2024
ain-20240226FALSE000081979300008197932024-02-262024-02-260000819793ain:ClassACommonStockMember2024-02-262024-02-26
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: February 26, 2024 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-1002614-0462060 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code 603-330-5800
None (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Class A Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations and Financial Condition. On February 26, 2024 Albany International issued a news release reporting fourth quarter 2023 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday February 27, 2024. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated February 26, 2024 reporting fourth-quarter 2023 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:/s/ Robert D. Starr
Name:Robert D. Starr Title:Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: February 26, 2024
Exhibit No.Description 99.1News release dated February 26, 2024 reporting fourth-quarter 2023 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Fourth-Quarter 2023 Results
ROCHESTER, N.H.— (BUSINESS WIRE) -- February 26, 2024 — Albany International Corp. (NYSE:AIN) today reported operating results for its full year and fourth quarter of 2023, which ended December 31, 2023.
"In 2023, our business remained focused on operational execution and delivered outstanding financial performance," said Gunnar Kleveland, President and Chief Executive Officer. "I am pleased to report record revenues of $1.15 billion in 2023, up 11% from last year. GAAP EPS grew in the mid-teens, and Adjusted EPS of $4.06, was up 4.9% from last year. Importantly the company delivered 2023 free cash flow of $64 million, up significantly from the $32 million generated in 2022.
"Fourth quarter results were particularly strong with outstanding contributions from both of our business segments," continued Kleveland. "Our first full quarter of Heimbach integration is complete, and we are on track to deliver on the promise of that acquisition. Meanwhile, our core Machine Clothing operations grew fourth quarter revenue and expanded profit margins despite soft business conditions in Europe. The Engineered Composites segment continues to grow. We have completed another year of growth on our commercial programs, and recent program wins were also important drivers of year-over-year revenue and profit growth in the business. We are well positioned for another strong year in 2024."
For the fourth-quarter ended December 31, 2023:
•Net revenues were $323.6 million, up 20.4%, or 19.6% after adjusting for currency translation, when compared to the prior year, primarily driven by Heimbach's contribution during the fourth quarter and growth in the Engineered Composites segment. •Gross profit of $
Nov 6, 2023
ain-20231106216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932023-11-062023-11-060000819793ain:ClassACommonStockMember2023-11-062023-11-060000819793ain:ClassBCommonStockMember2023-11-062023-11-06
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: November 6, 2023 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On November 6, 2023 Albany International issued a news release reporting third quarter 2023 financial results. The Company will host a webcast to discuss earnings at 10:00 a.m. Eastern Time on Tuesday November 7, 2023. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated November 6, 2023 reporting third-quarter 2023 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: November 6, 2023
Exhibit No. Description
99.1News release dated November 6, 2023 reporting third-quarter 2023 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Third-Quarter 2023 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--November 6, 2023 — Albany International Corp. (NYSE:AIN) today reported operating results for its third quarter of 2023, which ended September 30, 2023.
"We are reporting another strong quarter," said President and CEO, Gunnar Kleveland. "Revenue of $281 million, was up $20 million or 7.9% year-over-year primarily due to sales growth in Engineered Composites and one month of Heimbach results in the Machine Clothing segment. Both business segments are continuing to deliver on their long-term plans for profitable growth.
"In Machine Clothing, we closed on our acquisition of Heimbach on August 31 and welcome the Heimbach employees and customers to Albany. We are focused on integrating the operations and expect the acquisition to be accretive to earnings and cash flow in 2025. Machine Clothing delivered excellent results, particularly in light of the macroeconomic conditions in both Europe and China.
"Engineered Composites is executing on its long-term growth strategy delivering top-line growth across commercial, defense and space markets. The new business pipeline is robust, and I am excited about the opportunities it represents.
"Our revised guidance takes into account our year-to-date performance, anticipated market conditions, and the modestly dilutive impact of the Heimbach acquisition," concluded Kleveland.
For the third quarter ended September 30, 2023: •Net revenues were $281.1 million, up 7.9%, or 7.1% after adjusting for currency translation, when compared to the prior year. MC's net revenues increased 8.6%, driven by Heimba
Jul 26, 2023
ain-20230726216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932023-07-262023-07-260000819793ain:ClassACommonStockMember2023-07-262023-07-260000819793ain:ClassBCommonStockMember2023-07-262023-07-26
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: July 26, 2023 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On July 26, 2023 Albany International issued a news release reporting second quarter 2023 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Thursday July 27, 2023. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated July 26, 2023 reporting second-quarter 2023 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer)
Date: July 26, 2023
Exhibit No. Description
99.1News release dated July 26, 2023 reporting second-quarter 2023 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Second-Quarter 2023 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--July 26, 2023--Albany International Corp. (NYSE:AIN) today reported operating results for its second quarter of 2023, which ended June 30, 2023.
"We are reporting another strong quarter of operational results,” said Albany International President and Chief Executive Officer, Bill Higgins. "Our revenue of $274 million was up $13 million or approximately 5% year-over-year with growth across both business segments. I'm particularly pleased that revenue growth and operational execution in our businesses allows us to increase our guidance for 2023.
"We continue to advance our strategies for long-term value creation. During the quarter we announced our agreement to acquire Heimbach Group, a European producer of paper machine clothing which we expect to close in the second half of this year. With Heimbach, our broadened footprint will allow us to better serve customers in Europe and Asia. It's an exciting opportunity to create significant value for our shareholders as well as for our customers.
"Our Albany Engineered Composites team is on track to meeting short term growth and value deliverables. Longer term we are engaged with customers, demonstrating the capabilities of our proprietary 3D woven composites technology for applications in next-generation airframe, wing, and engine designs. We are investing our time and effort today to position for these long-term program opportunities," concluded Higgins.
For the second quarter ended June 30, 2023: •Net revenues were $274.1 million, up 4.9%, or 4.8% after adjusting for currency translation, when compar
Apr 25, 2023
ain-20230425216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932023-04-252023-04-250000819793ain:ClassACommonStockMember2023-04-252023-04-250000819793ain:ClassBCommonStockMember2023-04-252023-04-25
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: April 25, 2023 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On April 25, 2023 Albany International issued a news release reporting first quarter 2023 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Wednesday April 26, 2023. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated April 25, 2023 reporting first-quarter 2023 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Robert D. Starr
Name: Robert D. Starr Title: Chief Financial Officer and Treasurer
(Principal Financial Officer)
Date: April 25, 2023
Exhibit No. Description
99.1News release dated April 25, 2023 reporting first-quarter 2023 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports First-Quarter 2023 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--April 25, 2023--Albany International Corp. (NYSE:AIN) today reported operating results for its first quarter of 2023, which ended March 31, 2023.
"We are pleased to report another strong quarter,” said Albany International President and Chief Executive Officer, Bill Higgins. "Both of our businesses segments performed well and are on-track with their near-term and strategic plans.
"Our revenue of $269 million was up $25 million or 10% year-over-year. Engineered Composites grew first quarter sales approximately 29% compared to the first quarter of 2022 driven by higher program revenues from CH-53K, LEAP and contributions from our smaller programs. Machine Clothing markets remained healthy and the business segment posted stable revenue compared to the first quarter of 2022 with outstanding profitability.
"First quarter 2023 GAAP earnings per share was $0.86. Adjusted earnings per share for the quarter was $0.91, unchanged from 2022's first quarter result. Overall, we're very pleased with the start of the year and are reiterating our guidance for 2023," concluded Higgins.
For the first quarter ended March 31, 2023: •Net sales were $269.1 million, up 10.2%, or 12.2% after adjusting for currency translation, when compared to the prior year, primarily due to year-over-year growth in sales related to the CH-53K and LEAP programs within the Engineered Composites segment •Gross profit of $99.3 million was 8.4% higher than the $91.6 million reported for the same period of 2022; ov
Mar 30, 2023
ain-20230330216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932023-03-302023-03-300000819793ain:ClassACommonStockMember2023-03-302023-03-300000819793ain:ClassBCommonStockMember2023-03-302023-03-30
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: March 30, 2023 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition.
The information contained in Item 7.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.02.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously announced on March 23, 2023, Robert Starr, former Chief Financial Officer of Fairbanks Morse Defense, has been named Chief Financial Officer and Treasurer of Albany International Corp. (“the Company”) to succeed Stephen Nolan, effective April 10, 2023. In connection with such CFO transition, Elisabeth Indriani, who joined the Company on March 31, 2021, and served as Controller and chief accounting officer since May 13, 2021, is leaving the company. Ms. Indriani will remain with the Company until May 5, 2023, through the first quarter earnings release and filing of the Quarterly Report on Form 10Q. The Company and Ms. Indriani have mutually agreed to enter into an executive separation agreement. Under the agreement, Ms. Indriani will continue to receive her current monthly salary for a period of twenty-four (24) months, will remain eligible for any bonus payable relating to 2023 performance, on a pro rata basis, and will receive compensation in an amount equal to one-half the value of any unvested performance phantom stock units forfeited as the result of her departure. Ms. Indriani’s departure is not based on any disagreement with the Company’s accounting principles, practices or financial statement disclosures.
The Company has named John (“Jay”) J. Tedone, former Chief Accounting Officer of Eos Energy Enterprises, the Company’s Vice President – Controller, and appointed him chief accounting officer, both effective May 1, 2023. Mr. Tedone (age 58) joins the Company with over 30 years of accounting experience, including strategic public accounting roles. He most recently served as Chief Accounting Officer for Eos Energy Enterprises, Inc., a start-up company that designs, manufactures and deploys sustainable battery storage solutions for the electricity industry. Mr. Tedone joined Eos Energy Enterprises in February 2022. From May 2020 to January 2022, he was the Vice Present, Finance and Chief Accounting Officer for Lydall, Inc. a publicly traded designer and manufacturer of specialty filtration and advance material solutions. Prior to that, Mr. Tedone was employed by Kaman Corporation, a manufacturer serving the aerospace & defense, industrial and medical markets, as Vice President, Finance and Chief Accounting Officer from April 2007 to April 2020, and from November 200
Feb 13, 2023
ain-20230213FALSE000081979300008197932023-02-132023-02-130000819793ain:ClassACommonStockMember2023-02-132023-02-130000819793ain:ClassBCommonStockMember2023-02-132023-02-13
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: February 13, 2023 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-1002614-0462060 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Class A Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations and Financial Condition. On February 13, 2023 Albany International issued a news release reporting fourth quarter 2022 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday February 14, 2023. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated February 13, 2023 reporting fourth-quarter 2022 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:/s/ Stephen M. Nolan
Name:Stephen M. Nolan Title:Chief Financial Officer and Treasurer (Principal Financial Officer)
Date: February 13, 2023
Exhibit No.Description 99.1News release dated February 13, 2023 reporting fourth-quarter 2022 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Fourth-Quarter 2022 Results
ROCHESTER, N.H.— (BUSINESS WIRE) -- February 13, 2023 — Albany International Corp. (NYSE:AIN) today reported operating results for its fourth quarter of 2022, which ended December 31, 2022.
"We are pleased to report another strong quarter to close 2022," said Bill Higgins, President and Chief Executive Officer. "Our teams successfully addressed multiple challenges throughout the past year. We overcame supply chain challenges and managed inflationary pressures while serving customers, winning new business, and developing new products. Full year Revenue, Gross profit, Operating income, and Adjusted EBITDA all moved higher compared to 2021's results.
"Our Engineered Composites segment grew its top line 37%, the result of recovering LEAP production and new business wins, headlined by expanded content on the CH-53K helicopter program.
"Our Machine Clothing segment's execution and financial results continued to be impressive. The segment delivered excellent profitability in 2022 with Adjusted EBITDA margins exceeding 37% despite the inflationary environment."
For the fourth-quarter ended December 31, 2022:
•Net sales were $268.8 million, up 12.0%, or 15.5% after adjusting for currency translation, when compared to the prior year, driven by growth in the Engineered Composites segment. •Gross profit of $97.1 million was 1.1% higher than the $96.1 million reported for the same period of 2021, mainly due to higher net sales in the lower margin Engineered Composites segment. •Selling, Technical, General, and Research (STG&R) expenses were $59.3 million, comp
Oct 24, 2022
ain-20221024216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932022-10-242022-10-240000819793ain:ClassACommonStockMember2022-10-242022-10-240000819793ain:ClassBCommonStockMember2022-10-242022-10-24
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: October 24, 2022 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On October 24, 2022 Albany International issued a news release reporting third quarter 2022 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday October 25, 2022. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated October 24, 2022 reporting third-quarter 2022 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Stephen M. Nolan
Name: Stephen M. Nolan
Title: Chief Financial Officer and Treasurer
(Principal Financial Officer)
Date: October 24, 2022
Exhibit No. Description
99.1News release dated October 24, 2022 reporting third-quarter 2022 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Third-Quarter 2022 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--October 24, 2022--Albany International Corp. (NYSE:AIN) today reported operating results for its third quarter of 2022, which ended September 30, 2022.
"We are pleased to report another strong quarter,” said Albany International President and Chief Executive Officer, Bill Higgins. “Our revenue of $261 million was up year-over-year. Engineered Composites grew third quarter sales nearly 37% compared to the third quarter of 2021 driven by higher LEAP production and the CH53-K helicopter program. The Machine Clothing segment delivered another excellent performance in the quarter. On the bottom line, both segments achieved strong operating income, working hard to overcome inflation and supply chain challenges.
"Third quarter GAAP earnings per share was $0.34 inclusive of a pension settlement charge of $1.03 partially offset by currency gains. Adjusted earnings per share was $1.15 up from $0.83 reported last year," concluded Higgins.
For the third quarter ended September 30, 2022: •Net sales were $260.6 million, up 12.1%, or 16.5% after adjusting for currency translation, when compared to the prior year, primarily due to year-over-year growth in sales related to the CH-53K and LEAP programs within the Engineered Composites segment. •Gross profit of $100.5 million was 9.2% higher than the $92.0 million reported for the same period of 2021. •Selling, Technical, General, and Research (STG&R) expenses were $46.8 million, compared to $47.4 million in the same period
Jul 25, 2022
ain-20220725216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932022-07-252022-07-250000819793ain:ClassACommonStockMember2022-07-252022-07-250000819793ain:ClassBCommonStockMember2022-07-252022-07-25
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: July 25, 2022 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On July 25, 2022 Albany International issued a news release reporting second quarter 2022 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday July 26, 2022. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated July 25, 2022 reporting second-quarter 2022 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Stephen M. Nolan
Name: Stephen M. Nolan
Title: Chief Financial Officer and Treasurer
(Principal Financial Officer)
Date: July 25, 2022
Exhibit No. Description
99.1News release dated July 25, 2022 reporting second-quarter 2022 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Second-Quarter 2022 Results,
Raises 2022 Guidance ROCHESTER, N.H.--(BUSINESS WIRE)--July 25, 2022--Albany International Corp. (NYSE:AIN) today reported operating results for its second quarter of 2022, which ended June 30, 2022.
"We are pleased to report another quarter of excellent results,” said Albany International President and Chief Executive Officer, Bill Higgins. “Our revenue of $261 million was up on both a year-over-year and sequential basis driven by growth in our Engineered Composites segment from recovering commercial aircraft production and previously announced new business wins. Machine Clothing markets remained healthy, and the Machine Clothing segment delivered another strong performance in the quarter. Second quarter GAAP earnings per share was $1.25, which benefited from 20 cents of currency revaluation gains. Adjusted earnings per share was $1.06 up from $1.01 reported last year.
"As a result of the excellent performance to date, we are increasing our guidance for 2022. Of course, risks remain in 2022 in the form of ongoing inflation, supply chain and logistics challenges, and the indirect effects of the Russian invasion of Ukraine. Our updated outlook for the year incorporates these risks. Our team has done a great job managing these challenges and serving our customers which has enabled us to continue to win new business,” concluded Higgins.
For the second quarter ended June 30, 2022: •Net sales were $261.4 million, up 11.5%, or 14.6% after adjusting for currency translation, when compared to the prior year
Apr 25, 2022
ain-20220425216 Airport DriveRochesterNew HampshireFALSE0000819793NYSENYSE00008197932022-04-252022-04-250000819793ain:ClassACommonStockMember2022-04-252022-04-250000819793ain:ClassBCommonStockMember2022-04-252022-04-25
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: April 25, 2022 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-10026 14-0462060
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per share AIN The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition. On April 25, 2022 Albany International issued a news release reporting first quarter 2022 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday April 26, 2022. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated April 25, 2022 reporting first-quarter 2022 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: /s/ Stephen M. Nolan
Name: Stephen M. Nolan
Title: Chief Financial Officer and Treasurer
(Principal Financial Officer)
Date: April 25, 2022
Exhibit No. Description
99.1News release dated April 25, 2022 reporting first-quarter 2022 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports First-Quarter 2022 Results
ROCHESTER, N.H.--(BUSINESS WIRE)--April 25, 2022--Albany International Corp. (NYSE:AIN) today reported operating results for its first quarter of 2022, which ended March 31, 2022.
"We are pleased to report strong revenue growth during the first quarter of 2022,” said Albany International President and Chief Executive Officer, Bill Higgins. “Our team remained nimble and flexible in the face of an unpredictable business environment caused by COVID variant waves and Russia's invasion of Ukraine.
"In response to the Russian invasion, we made the decision to cease doing business in Russia during the first quarter, including exiting a very small joint venture in our Machine Clothing segment.
"In the first quarter of 2022, Machine Clothing segment sales increased by over $5 million compared to the same period in the prior year. On a constant currency basis, Machine Clothing segment sales increased 5.7% with positive contributions from all product segments, resulting in the segment’s highest first-quarter revenue since 2015. Operating income was slightly lower than the year-ago level - the result of the write offs and reserves due to withdrawal from the Russian market. Absent those effects, segment operating income grew approximately 2%. The segment’s order book remains strong and supports our outlook for 2022.
"The Engineered Composites segment reported top-line growth in excess of 20% in the first quarter giving us a nice start to delivering on our growth expectations for the year. The segment is well-posi
Feb 15, 2022
ain-20220215FALSE000081979300008197932022-02-152022-02-150000819793ain:ClassACommonStockMember2022-02-152022-02-150000819793ain:ClassBCommonStockMember2022-02-152022-02-15
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: February 15, 2022 (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware1-1002614-0462060 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S Employer Identification No.)
216 Airport Drive Rochester, New Hampshire 03867 (Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Class A Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per shareAINThe New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). ☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations and Financial Condition. On February 15, 2022 Albany International issued a news release reporting fourth quarter 2021 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Wednesday February 16, 2022. The news release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith: 99.1 News release dated February 15, 2022 reporting fourth-quarter 2021 financial results.
Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:/s/ Stephen M. Nolan
Name:Stephen M. Nolan Title:Chief Financial Officer and Treasurer (Principal Financial Officer)
Date: February 15, 2022
Exhibit No.Description 99.1News release dated February 15, 2022 reporting fourth-quarter 2021 financial results.
104Inline XBRL cover page.
Exhibit 99.1
Albany International Reports Fourth-Quarter 2021 Results
ROCHESTER, N.H.— (BUSINESS WIRE) -- February 15, 2022 — Albany International Corp. (NYSE:AIN) today reported operating results for its fourth quarter of 2021, which ended December 31, 2021.
"We are pleased to report another strong quarter, capping a great year in 2021," said Bill Higgins, President and Chief Executive Officer. "Our employees performed remarkably well throughout the year serving customers, winning new business, developing new products, and navigating supply chain and COVID challenges. For the year the Company generated record free cash flow and very healthy Adjusted EBITDA margins. The team has continued to demonstrate world-class operational performance in delivery, quality, and safety."
"Our Machine Clothing segment's execution and financial results continue to be exceptional. On strong sales and productivity, the segment's Adjusted EBITDA of approximately $237 million was a record."
"Our Engineered Composites segment also performed very well in a challenging environment, with revenues of $310 million and Adjusted EBITDA margins of 22%. The segment is winning significant new business, including the award of additional content on the CH-53K helicopter valued at more than $300 million, and is building a foundation for long-term growth with development efforts on next-generation engine and airframe programs."
For the fourth quarter ended December 31, 2021: •Net sales were $239.9 million, up 5.8%, or 6.4% after adjusting for currency translation, when compared to the prior year. •Gross profit of $96.1 million was 5.2% higher than
Oct 25, 2021
false000081979300008197932021-10-252021-10-250000819793ain:ClassACommonStockMember2021-10-252021-10-250000819793ain:ClassBCommonStockMember2021-10-252021-10-25
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 2021
(Exact name of registrant as specified in its charter)
Delaware
1-10026
14-0462060
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S Employer
Identification No.)
216 Airport Drive Rochester, New Hampshire
03867
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code 603-330-5850
None
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Class A Common Stock
AIN
The New York Stock Exchange (NYSE)
Class B Common Stock
AIN
The New York Stock Exchange (NYSE)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 2.02. Results of Operations and Financial Condition.
On October 25, 2021 Albany International issued a news release reporting third quarter 2021 financial results. The Company will host a webcast to discuss earnings at 9:00 a.m. Eastern Time on Tuesday October 26, 2021. The news release is furnished as Exhibit 99.1 to this report.
Item 8.01 Other Events.
On October 25, 2021, the Company's Board of Directors authorized the Company to repurchase shares of up to $200 million through open market purchases, privately negotiated transactions or otherwise, and to determine the prices, times and amounts. The program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or terminated at any time at the Company's discretion. The share repurchase program does not have an expiration date. The timing and amount of any share repurchases will be based on the Company’s liquidity, general business and market conditions, debt covenant restrictions and other factors, including alternative investment opportunities and capital structure.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is being furnished herewith:
99.1 News release dated October 25, 2021 reporting third-quarter 2021 financial results.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:
/s/ Stephen M. Nolan
Name:
Stephen M. Nolan
Title:
Chief Financial Officer and Treasurer
(Principal Financial Officer)
Date: October 25, 2021
Exhibit No.
Description
99.1
News release dated October 25, 2021 reporting third-quarter 2021 financial results.
104
Inline XBRL cover page.
This page provides Albany International Corporation (AIN) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on AIN's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.