Financial Data and Key Metrics Changes - Total company net sales for Q3 2022 were $260.6 million, an increase of 12.1% compared to $232.4 million in Q3 2021, with a 16.5% increase on a constant currency basis [14] - GAAP EPS was $0.34, down from $0.95 in the previous year, while adjusted EPS rose to $1.15 from $0.83 [20] - Adjusted EBITDA increased by 13% to $68.1 million compared to the same period last year [20] Business Segment Data and Key Metrics Changes - Engineered Composites segment saw a 41.6% increase in net sales, primarily driven by growth in LEAP and CH-53K programs [15] - Machine Clothing segment reported a 3.8% increase in net sales on a constant currency basis, with gross margins slightly up at 51.7% [14][16] - Adjusted EBITDA for Machine Clothing was $59.1 million, roughly flat compared to the previous year, while Engineered Composites adjusted EBITDA was $21.5 million, up from $16.3 million [20] Market Data and Key Metrics Changes - Global demand for paper machine clothing remained steady, with sales higher year-over-year in the Americas, Asia, and Europe [7] - The company noted healthy order bookings despite challenges from COVID lockdowns in China and the war in Ukraine [7] Company Strategy and Development Direction - The company aims to leverage its strong balance sheet for investments in new product development and organic growth [12] - Machine Clothing's strategy focuses on higher growth and value-added markets, while Engineered Composites is diversifying its customer base and pursuing new opportunities in defense and commercial applications [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of both business segments despite ongoing inflation and supply chain challenges [12] - The outlook for the Machine Clothing segment remains strong, with expectations of flat revenues for the full year due to currency impacts being offset by pricing and increased demand [22][23] Other Important Information - A significant pension settlement charge of $49.1 million impacted GAAP reported income [13] - The company completed the purchase of group annuity contracts to eliminate liabilities associated with US defined benefit pension plans [13] Q&A Session Summary Question: Follow-up on Machine Clothing margin outlook - Management acknowledged ongoing supply chain challenges and inflationary pressures but expressed confidence in managing costs effectively [30][31] Question: Drivers behind fourth quarter guidance - Management indicated that currency effects, seasonal shipping challenges, and rising input costs would impact fourth quarter performance [38][39] Question: Update on 787 program and production ramp - Management noted that production for the 787 remains idle, with no clear timeline for resumption [50][51] Question: LEAP program expectations for next year - Management confirmed no pinch points in production capacity and indicated that they would set production plans in collaboration with Safran [62][64] Question: Channel inventory status - Management reported no excess inventory in the channel and noted healthy order trends going into Q4 [66] Question: Growth opportunities in AEC - Management highlighted ongoing growth in LEAP and CH-53K programs, with several smaller defense opportunities also in the pipeline [68][72]

Albany International Corp. (NYSE:AIN) Q2 2022 Earnings Conference Call July 26, 2022 9:00 AM ET Company Participants John Hobbs - Director, Investor Relations Bill Higgins - President and Chief Executive Officer Stephen Nolan - Chief Financial Officer Conference Call Participants Michael Ciarmoli - Truist Securities Pete Skibitski - Alembic Global Gautam Khanna - Cowen Peter Arment - Baird Operator Ladies and gentlemen, thank you for standing by. Welcome to the Albany International Q2 2022 Earnings Conferen ...

Financial Data and Key Metrics Changes - Total company net sales for Q1 2022 were $244.2 million, a 9.8% increase from $222.4 million in Q1 2021. Adjusted for currency translation effects, net sales increased by 11.5% year-over-year [17] - GAAP EPS was $0.87, up from $0.85 in the same quarter last year, while adjusted EPS was $0.91 compared to $0.87 last year [9][23] - Gross profit for the quarter was $91.6 million, a 3.5% increase from the previous year, but gross margin declined by 130 basis points to 37.5% of net sales [18][19] Business Line Data and Key Metrics Changes - Aerospace composite segment net sales grew by over 20%, while machine clothing segment posted mid-single-digit growth compared to the previous year [9] - In machine clothing, net sales increased by 5.7% year-over-year, driven by growth in all grades of product. Engineered composites net sales grew by 23.1%, with LEAP and CH-53K contributing to the growth [17] - Machine clothing gross margin remained flat at 51.5%, while engineered composites gross margin declined from 16.4% to 13.6% due to raw material reserves and mix effects [19] Market Data and Key Metrics Changes - The company experienced a minor impact from the Russian invasion of Ukraine, with an estimated loss of $10 million in annual sales due to exiting the Russian market [28] - The company noted that inflationary pressures are expected to impact profitability, particularly due to increased costs in logistics and materials [11][26] Company Strategy and Development Direction - The company aims to invest in R&D and product development to drive organic growth and position itself as a technology leader in both segments [12] - In machine clothing, the company focuses on producing high-quality products and is the global market leader, with long-term demand expected to grow due to economic activity and a shift towards renewable materials [12] - The engineered composites segment is focused on bringing advanced materials to market, with significant opportunities in the aerospace sector, particularly with the LEAP program and CH-53K helicopter [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities despite the unpredictable global environment, emphasizing the adaptability of their teams in overcoming supply chain challenges [10][12] - The company maintains its full-year guidance for revenue and adjusted EBITDA, despite acknowledging risks related to inflation and potential de-stocking cycles [29][31] Other Important Information - The company has transitioned to a single class share structure, enhancing governance and shareholder equality [15][16] - The company returned over $50 million to investors in Q1, including dividends and share repurchases, while maintaining a net leverage ratio of about 0.52 [24] Q&A Session Summary Question: Visibility on LEAP program ramp-up - Management indicated strong visibility for the LEAP program, with significant revenue growth compared to the previous year, and expressed confidence in demand despite potential impacts from the Chinese market reopening [33][36] Question: Impact of China lockdowns on machine clothing revenue - Management reported no material impact from China lockdowns in Q1, but acknowledged potential risks for Q2. They noted that machine clothing has performed well despite economic uncertainties [37][54] Question: Guidance for machine clothing segment - Management maintained guidance, citing strong bookings and a solid position heading into Q2, but did not expect significant growth due to tough year-over-year comparisons [44][45] Question: Inflationary cost impacts and staffing levels - Management confirmed they are fully staffed in machine clothing and are adding personnel in engineered composites to support production growth [49][50] Question: Expectations for AEC margins and revenue - Management indicated that the path to achieving a 20% EBITDA margin is solid, driven by the absence of one-time reserves and expected improvements in program performance [73]

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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. | --- | --- | |--------------------------------------------------------------------- ...

Albany International Corp. (NYSE:AIN) Q4 2021 Earnings Conference Call February 16, 2022 9:00 AM ET Company Participants John Hobbs - Director of Investor Relations Bill Higgins - President and Chief Executive Officer Stephen Nolan - CFO and Treasurer Conference Call Participants Steve Tusa - JP Morgan Gautam Khanna - Cowen Ron Epstein - Bank of America Pete Skibitski - Alembic Global Michael Ciarmoli - Truist Securities Operator Ladies and gentlemen, thank you for standing by. Welcome to the Albany Interna ...