Highest-materiality recent filing
Annual meeting results: all 8 directors elected, KPMG ratified, say-on-pay approved
Elected 8 directors with >22.8M votes for each; Bonnie Lind received 25.1M for, 264k withheld.
Albany International Q1 revenue up 7.8% to $311.3M; net income down to $15.3M
Net revenue $311.3M vs $288.8M; net income $15.3M ($0.54 diluted EPS) vs $17.4M ($0.56).
Albany Int'l Q4 revenue $321M (+12% YoY), AEC up 43%; Q1 guidance: rev $275-285M, adj EPS $0.50-0.60
Q4 adj EPS $0.65 beats $0.58 YoY; GAAP EPS $0.49 vs $0.57.
Albany International exploring sale of AED Facility; 10+ PE inquiries received
Selecting financial advisor and building financial models for potential sale of Amelia Earhart Drive Facility as a whole.
Albany Intl posts Q3 net loss of $97.8M on CH-53K charges; strategic review of structures assembly
Net loss of $97.8M ($3.37/diluted) vs net income of $18.0M ($0.57/diluted); includes $147.3M pre-tax CH-53K loss reserve.
Albany Intl to explore sale of structures assembly business; records $147M loss reserve on CH-53K
Reviewing strategic alternatives for structures assembly business, including potential sale of Salt Lake City facility.
Albany International appoints Willard Station as CFO effective Sept 1, 2025
Willard Station named EVP and CFO effective September 1, 2025; succeeds interim CFO JC Chetnani.
Albany International Q2 net income falls to $9M ($0.31 EPS) from $25M; revenue down 6.2%
Net revenues $311M, down 6.2% YoY (7.4% currency-adjusted).
Albany International to present at Wells Fargo Industrials Conference on June 11, 2025
President and CEO Gunnar Kleveland will present at the Wells Fargo 2025 Industrials & Materials Conference.
Albany International names Sean Valashinas as VP-Controller and Principal Accounting Officer
Sean Valashinas appointed VP-Controller and Principal Accounting Officer, effective June 9, 2025.
All nine director nominees elected; votes for ranged from 24,988,989 (Scannell) to 28,563,949 (Kleveland).
Albany International CFO Robert Starr resigns; JC Chetnani named interim CFO
CFO Robert Starr resigned effective May 23, 2025; receives $250K separation pay plus COBRA.
Albany International Q1 revenue down 7.8% to $289M; adjusted EPS falls to $0.73 from $0.90
Net revenues $289M (-7.8% YoY); GAAP EPS $0.56 vs $0.87; adjusted EPS $0.73 vs $0.90.
Albany Engineered Composites wins 7-year Bell 525 contract
AEC awarded 7-year contract from Bell Textron for composite components on the Bell 525 helicopter.
Albany International CAO resigns; CFO Starr assumes interim role
John J. Tedone, VP-Controller and CAO, resigned effective March 20, 2025, to pursue another opportunity.
Albany International awards 2025 performance and restricted stock units to named executives
CEO Gunnar Kleveland granted target of 16,349 PSUs and 16,349 RSUs under 2023 Incentive Plan.
Albany International Q4 net income $17.7M ($0.56 EPS); Board authorizes new $250M buyback
Q4 net revenues $286.9M, down 11.3% YoY; AEC segment fell 25% on LEAP and CH-53K declines.
Albany International to close Ballo, Italy facility, transfer production to Merone
Albany International Italia Srl will initiate consultations to discontinue manufacturing at Ballo, Italy.
Albany Intl proposes closure of Swiss paper machine clothing plant; 83 jobs affected
Heimbach Switzerland AG subsidiary proposes to discontinue manufacturing in Olten, Switzerland.
Albany International Q3 net income falls to $18M; revenue up 6.1% to $298M
Net revenue $298M (+6.1% YoY); MC $183M (+9.9% on Heimbach), AEC $115M (flat).
Albany Intl lowers FY2024 adj. EPS guidance to $2.90-$3.40 on $24M charge
Pre-announces ~$24M negative Estimate-at-Completion adjustment in Q3 from higher costs and customer production suspension.
Albany International amends Bylaws; updates stockholder proposal procedures, board quorum rules
Bylaw amendments adopted Sept 20, 2024; include quorum changes for stockholder and board meetings.
Albany International appoints Merle Stein as Machine Clothing President effective Sept 1, 2024
Merle Stein appointed President of Machine Clothing segment, effective Sept 1, 2024; succeeds Daniel Halftermeyer.
AEC President Gregory Harwell departs; severance of 2x salary plus bonus disclosed
Harwell to receive 2x base salary over 24 months and $392,843 target bonus.
Revenue $332M, up 21.1% YoY; Heimbach acquisition and AEC growth offset organic MC decline.
Albany International appoints Christopher Stone as President of AEC segment, effective Aug 12
Christopher Stone appointed President of Albany Engineered Composites, succeeding Gregory Harwell, who no longer serves.
Albany International amends credit agreement to replace CDO rate with CORRA for CAD borrowings
First Amendment to Amended and Restated Credit Agreement dated June 28, 2024, with JPMorgan Chase as Administrative Agent.
Albany International shareholders elect all nine director nominees, ratify KPMG, approve exec comp
All nine board nominees elected; Bonnie C. Lind received highest support with 29.3M votes for.
Albany Intl Q1 rev $313M (+16.4%); adj EPS $0.90 vs $0.91; guides FY24
Net revenues $313.3M, up 16.4% YoY; Machine Clothing +20.9% (Heimbach), AEC +10.6%.
Albany International to cease manufacturing in Chungju, South Korea; 76 employees affected
Forming fabric production will be transferred to other Albany International facilities, completed by July 2024.
Albany International approves 2024 executive bonus and RSU awards under 2023 Plan
Annual Performance Bonus target cash amounts: Kleveland $927K, Starr $410.97K, Halftermeyer $359.8K, Harwell $392.8K, Gaug $293.5K.
Albany International Q4 revenue up 20% to $323.6M; sees 2024 revenue $1.26-1.33B
Q4 net income $30.5M ($0.97 EPS) vs $18.1M ($0.58) prior year; adjusted EPS $1.22 vs $0.75.
Albany International elects Bonnie Lind to board, John Scannell appointed Chairman
Bonnie C. Lind elected to Board of Directors; appointed to Audit Committee.
Albany International Q3 revenue rises 7.9% to $281M; adjusted EPS $1.02; raises FY guidance
Revenue of $281M (+7.9% YoY); net income $27.1M ($0.87 EPS); adjusted EPS $1.02 vs $1.15 prior year.
Albany International completes €132M cash acquisition of Heimbach, assumes €22M debt
Total consideration €132 million cash plus assumed net debt of approximately €22 million.
Albany International appoints Gunnar Kleveland as President and CEO, succeeding William Higgins
William Higgins retires as President and CEO effective Sept 1, 2023; remains on Board.
Albany International upsizes revolving credit facility to $800M, matures 2028
New $800M unsecured five-year revolving credit facility replaces prior $700M four-year facility from Oct 2020.
Albany International Q2 revenue $274M (+5% YoY); raises FY guidance, announces Heimbach acquisition
Net income $26.7M ($0.86 EPS) vs $39.2M ($1.25) in Q2 2022; Adjusted EPS $0.90 vs $1.06.
Albany International amends credit agreement to replace LIBOR with Term SOFR
Amendment replaces LIBOR with Term SOFR plus credit spread adjustment; floor of 0.00%.
Albany International to acquire Heimbach Group for €153 million
Purchase price of €153M includes €21M net debt; funded with cash on hand outside the U.S.
Albany International grants 16,436-share retention bonus to President Daniel Halftermeyer
Daniel Halftermeyer, President – Global MC, receives special retention incentive award on June 14, 2023.
Albany International shareholders approve elimination of Class B Common Stock
Shareholders approved Second Amended and Restated Certificate of Incorporation eliminating Class B Common Stock.
Albany International supplements proxy statement on voting procedures and broker non-votes
Quorum requires presence of shares having a majority of total votes entitled to be cast.
Albany International Q1 revenue $269M (+10%); GAAP EPS $0.86; FY23 guidance reaffirmed
Revenue $269.1M, up 10.2% YoY (12.2% ex-currency); GAAP EPS $0.86 vs $0.87.
Albany International names new CFO and controller; reaffirms 2023 guidance
Robert Starr named CFO effective April 10, 2023, succeeding Stephen Nolan.
Albany International CFO Nolan resigns; Starr named successor effective April 10
CFO Stephen Nolan resigns effective April 7, 2023, to join a private company; not related to financial disagreements.
Albany International CEO Higgins to retire; board retains Spencer Stuart for successor search
CEO Bill Higgins notified board of desire to retire; will continue as CEO until successor named.
Q4 net sales $268.8M (+15.5% ex-currency); GAAP EPS $0.58 vs $0.89 YoY; adj. EPS $0.75 vs $0.86.
Albany International Q3 adj. EPS $1.15, revenue $260.6M (+12.1%); updates FY2022 guidance
Net sales $260.6M (+12.1% YoY, +16.5% constant currency); Engineered Composites sales up 37% on LEAP and CH-53K.
Albany International Q2 revenue $261M, EPS $1.25, raises FY2022 guidance
Net sales $261.4M, up 11.5% YoY; GAAP EPS $1.25 (incl $0.20 currency gain); adjusted EPS $1.06 vs $1.01.
The Registrant, Albany International Corp. (the “Company”), has named Sean Valashinas its Vice President – Controller and Principal Accounting Officer and appointed him Principal Accounting Officer, both effective June 9, 2025.
The Company also announced that Jairaj (JC) Chetnani, its Vice President – Investor Relations and Treasurer, has been appointed interim Chief Financial Officer to succeed Mr. Starr while a formal search is conducted.
On May 16, 2025, the Albany International Corp. (“the Company”) Board of Directors accepted the resignation of Robert Starr, its Chief Financial Officer and interim Principal Accounting Officer, effective May 23, 2025
On March 10, 2025, Albany International Corp. (“the Company”) accepted the resignation of John J. Tedone, its Vice President – Controller and Chief Accounting Officer, effective March 20, 2025.
Robert Starr, the Company’s Executive Vice President and Chief Financial Officer will assume the role of Principal Accounting Officer on an interim basis until a successor is named.
Mr. Stein, previously the Chief Operating Officer of the segment, succeeds Daniel Halftermeyer, who is stepping down from the position to focus his time and energies on driving the continued integration of the Company’s Heimbach acquisition and ensuring a successful transition to Mr. Stein.
On August 30, 2024, Albany International Corp. (“the Company”) announced that Merle Stein had been appointed President of the Company’s Machine Clothing segment, and elected an officer of the Company, effective September 1, 2024.
On August 7, 2024, Albany International Corp. (“the Company”) entered into Mutual Separation Agreement and General Release with Gregory Harwell, the former President of the Company’s Albany Engineered Composites (“AEC”) business segment.
As previously disclosed, Christopher E. Stone has been appointed President of the Company’s AEC business segment, and elected an officer of the Company, effective August 12, 2024.
Christopher E. Stone had been appointed President of the Company's AEC business segment, and elected an officer of the Company, effective August 12, 2024.
succeeds Gregory Harwell, who no longer serves in that position.
Board voted Director John R Scannell Chairman of the Board to succeed Erland (Erkie) Kailbourne
Max materiality 0.85 · Median 0.60 · Most common event earnings