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Form 8-K - Current report - Item 5.03 Item 5.07 Item 9.01

Albany International Corp. - Class A

Announcement: AIN 8-K Special Filing

Analysis of Performance:

During the first quarter of 2023, Albany International Corp /DE/ reported Net sales of $269.1 million, registering an increase of 10.2% compared to the same period of 2022. This increase was primarily driven by the Albany Engineered Composites (AEC) segment which saw a growth of 28.6%, however, the Machine Clothing (MC) segment observed a decrease of 0.5% in net sales.

The MC segment, which is the Company’s long-established core business and primary generator of cash has been impacted by the decline in publication grades in the Company’s traditional markets. However, there was growth in demand for packaging and tissue grades, as well as expansion of paper consumption and production in Asia and South America. With high-quality, low-cost production in growth markets, and continued strength in new product development, technical product support, and manufacturing technology, the MC business retains the potential for maintaining stable earnings in the future.

The AEC segment provides significant longer-term growth potential for the Company. In 2023, approximately 46 percent of AEC sales were related to U.S. government contracts or programs. AEC supplies a number of customers in the aerospace industry, and sales to the SAFRAN Group accounted for approximately 16 percent of the Company’s consolidated net sales in 2022. AEC is actively engaged in research to develop new applications in both commercial and defense aircraft engine and airframe markets.

Analysis of Forward Looking Information:

The Company faces increasing labor, raw material, energy and logistic costs due to supply chain constraints and inflationary pressures. The ongoing Russia-Ukraine war has added to these challenges. The COVID-19 pandemic also poses risks to the Company’s operations and financial performance. These factors could cause actual results to differ materially from the forward-looking statements.

The Company seeks to maintain the potential for maintaining stable earnings in the MC segment, actively engaging in research to develop new applications in both commercial and defense aircraft engine and airframe markets. The AEC segment provides significant longer-term growth potential for the Company, focusing on high-value aerospace (both commercial and defense) applications, while at the same time performing successfully on their portfolio of growth programs.

Overall, the Company is well-positioned in key markets, with low-cost production in mature markets, and continued strength in new product development, technical product support, and manufacturing technology. However, the general risks associated with macroeconomic conditions, pricing pressures in all markets, and delays, technical difficulties, or cancellations in aerospace programs, emphasize the need for careful monitoring by investors.

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Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Albany International's Q1 2023 sales up 10.2% YoY, thanks to AEC growth

Form 8-K - Current report - Item 2.02 Item 9.01

Unfortunately, the financial report provided is incomplete and does not provide any relevant financial information or analysis for investors. As a stock market journalist, I would advise investors to look for more comprehensive and thorough financial reports that include key financial metrics such as revenue, earnings, and cash flow statements, as well as management's analysis and discussion of the company's operations and financial performance. Additionally, it is important for investors to consider factors such as the company's industry, competitive landscape, and macroeconomic trends in order to make informed investment decisions.

Form 8-K - Current report - Item 2.02 Item 5.02 Item 7.01 Item 9.01

$AIN reports incomplete financial information, caution investors to seek comprehensive reports.

Form 8-K - Current report - Item 5.02 Item 9.01