Albany International Corp. (NYSE:AIN) Q4 2023 Earnings Conference Call February 27, 2024 9:00 AM ET Company Participants John Hobbs - Director, Investor Relations Gunnar Kleveland - President and CEO Rob Starr - Chief Financial Officer and Treasurer Conference Call Participants Steve Tusa - J.P. Morgan Jan-Frans Engelbrecht - Baird Pete Osterland - Truist Securities Jordan Lane - Bank of America Spencer Breitzke - TD Cowen Operator Good day and thank you for standing by. Welcome to Albany International’s Fo ...

Core Insights - Albany International reported a revenue of $323.58 million for the quarter ended December 2023, reflecting a year-over-year increase of 20.4% [1] - The earnings per share (EPS) for the quarter was $1.22, up from $0.75 in the same quarter last year, indicating a significant improvement [1] - The revenue exceeded the Zacks Consensus Estimate by 7.13%, while the EPS surpassed the consensus estimate by 45.24% [1] Revenue Performance - Albany Engineered Composites generated revenue of $131.84 million, exceeding the average estimate of $113.92 million by two analysts, marking an 11.3% year-over-year increase [2] - Machine Clothing revenue was reported at $191.74 million, surpassing the average estimate of $188.12 million, with a year-over-year change of 27.5% [2] Segment Income - Segment income for Albany Engineered Composites was $14.13 million, compared to the estimated $12.23 million by two analysts [2] - Segment income for Machine Clothing was reported at $45.98 million, slightly below the average estimate of $47.58 million [2] Stock Performance - Albany International's shares have returned +2.2% over the past month, while the Zacks S&P 500 composite increased by +4.7% during the same period [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]

Company Performance - Albany International reported quarterly earnings of $1.22 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, and up from $0.75 per share a year ago, representing an earnings surprise of 45.24% [1] - The company posted revenues of $323.58 million for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 7.13%, compared to year-ago revenues of $268.79 million [1] - Over the last four quarters, Albany International has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [1] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.94 on revenues of $293.13 million, and for the current fiscal year, it is $4.07 on revenues of $1.3 billion [4] - The estimate revisions trend for Albany International is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Textile - Products industry, to which Albany International belongs, is currently in the bottom 14% of over 250 Zacks industries, suggesting potential challenges ahead [5] - The performance of Albany International's stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]

ROCHESTER, N.H.--(BUSINESS WIRE)--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, wa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT 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) ALBANY INTERNATIONAL CORP. (Exact name of registrant as specified in its charter) | Delaware | 1-10026 | 14-0462060 | | --- | --- | --- | | (State or other jurisdiction | (Commission | (I.R.S Employer | | of incorporation) | File Number) | Identification No.) | | 216 Airport D ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission file number: 1-10026 ____________________________________________________ ...

ROCHESTER, N.H.--(BUSINESS WIRE)--The Board of Directors of Albany International Corp. (NYSE: AIN) today declared a quarterly dividend of $0.26 per share on the Company’s Class A Common Stock. The dividend is payable April 5, 2024, to shareholders of record on March 15, 2024. About Albany International Corp. Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is ...

ROCHESTER, N.H.--(BUSINESS WIRE)--Albany International Corp. (NYSE:AIN) announced today that Bonnie C. Lind has been elected to its Board of Directors and that Director John R. Scannell has been appointed Chairman of the Board. Ms. Lind, age 65, served as Sr. Vice President, CFO & Treasurer of Neenah Inc. following its spinoff from Kimberly-Clark Corporation in 2004 until October 2020. Prior to that, from 1984 she held a number of increasingly senior financial and operational positions within Kimberly-Clar ...

Wall Street analysts expect Albany International (AIN) to post quarterly earnings of $0.84 per share in its upcoming report, which indicates a year-over-year increase of 12%. Revenues are expected to be $302.04 million, up 12.4% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnings disclosure, it is crucia ...

ROCHESTER, N.H.--(BUSINESS WIRE)--Albany Engineered Composites (AEC) will be exhibiting in Hall 6, Booth K24 at JEC World in Paris, France, the largest international composites event from March 5-7, 2024. At JEC World 2024, Innovation Planets showcases composite innovations with unique properties and possibilities. AEC has been selected to showcase our Composite Wing Box Rib produced using our proprietary 3D woven technology in a high-rate, industrialized application for the Airbus Wing of Tomorrow program ...