secwatch.observer — SEC 8-K summary
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Issuer:     ALBANY INTERNATIONAL CORP /DE/ (AIN)
CIK:        0000819793
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0000819793-24-000064
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albany Intl lowers FY2024 adj. EPS guidance to $2.90-$3.40 on $24M charge
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- Pre-announces ~$24M negative Estimate-at-Completion adjustment in Q3 from higher costs and customer production suspension.
- Additional ~$8M pre-tax headwind from other forecast changes; Q3 2024 conference call scheduled for today 8:30 a.m. ET.
- Revised FY2024 revenue guidance $1.22B-$1.26B; total co. Adjusted EBITDA $230M-$250M.
- AEC segment revenue $480M-$500M; AEC Adjusted EBITDA $65M-$75M (high-teen margins).
- Machine Clothing revenue $740M-$760M; Adjusted EBITDA $235M-$245M; Heimbach integration on track.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/819793/000081979324000064/0000819793-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/819793/000081979324000064/ain-20241003.htm
  HTML page:      https://secwatch.observer/filing/0000819793-24-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer