Albany International Updates Expectations for Aerospace Business and the Company’s 2024 Full Year Outlook
Albany International Corporation (AIN)
Last albany international corporation earnings: 4/29 05:05 pm
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US:NYSE Investor Relations:
albint.com/en-us/investor/pages/home.aspx
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Source: Business Wire
Company to Hold Conference Call Today at 8:30 a.m. ET to Discuss Update ROCHESTER, N.H.--(BUSINESS WIRE)--Albany International Corp. (NYSE: AIN) announced today that it is 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.Following its regular quarterly review of program costs and estimates relative to certain large complex aerospace contracts the Company has updated its labor, material input and scrap cost assumptions over the duration of certain long-term contracts. These increased cost assumptions as well as the impact of suspended production at a key customer pending their union negotiations will result in an approximate $24 million negative Estimate-at-Completion (EAC) adjustment in the third quarter of 2024. Changes in other forecast assumptions are projected to lower second-half pre-tax earnings by an additional $8 million.“We cont
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News
- Albany International Corp. (NYSE: AIN) was upgraded by analysts at TD Cowen to a "strong-buy" rating.MarketBeat
- Albany International Corp. (NYSE: AIN) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Albany International (NYSE:AIN) Will Pay A Larger Dividend Than Last Year At $0.27 [Yahoo! Finance]Yahoo! Finance
- Albany International Declares DividendBusiness Wire
- Albany International Corp. (NYSE: AIN) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
AIN
Earnings
- 10/30/24 - Beat
AIN
Sec Filings
- 11/15/24 - Form 8-K
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- AIN's page on the SEC website