Albany International Corp. (NYSE:AIN) Q1 2024 Earnings Conference Call April 30, 2024 9:00 AM ET

Company Participants

JC Chetnani - VP, IR
Gunnar Kleveland - President & CEO
Robert Starr - CFO & Treasurer

Conference Call Participants

Peter Arment - Baird
Michael Ciarmoli - Truist Securities.
Jordan Lyonnais - Bank of America
Jack Ayers - TD Cowen
Chigusa Katoku - J.P. Morgan
Peter Skibitski - Alembic Global

Operator

Good day, and thank you for standing by. Welcome to the Albany International First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, JC Chetnani, VP of Investor Relations and Treasurer.

JC Chetnani

Thank you, operator, and good morning, everyone. Welcome to Albany International's first quarter 2024 earnings conference call. As a reminder for those listening on the call, please refer to our press release issued last night detailing our quarterly financial results. Contained in the text of the release is a notice regarding our forward-looking statements and the use of certain non-GAAP financial measures and their reconciliation to GAAP.

For the purposes of this conference call, those same statements apply to our verbal remarks this morning. Today, we will make statements that are forward-looking and contain a number of risks and uncertainties, which could cause actual results to differ from those expressed or implied. For a full discussion of these risks and uncertainties, please refer to both our earnings release of April 29, 2024, as well as our SEC filings, including our 10-K.

Now, I will turn the call over to Gunnar Kleveland, our President and CEO, who will provide opening remarks. Gunnar?

Gunnar Kleveland

Thank you, JC. Good morning, and welcome, everyone. Thank you for joining our first quarter earnings call. I'll provide an overview of our business performance, and Rob will later discuss our financial results in detail. We had another good quarter as our businesses delivered solid results and are executing to their plans.

Machine Clothing grew year-over-year, primarily driven by our Heimbach acquisition, offset by lower organic demand, primarily in Europe. North America remains strong, and our global order backlog has improved from the beginning of the year, which provides us confidence in our full year guide.