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Tusa

Managing Director and Senior Equity Analyst at JPMorgan Chase & Co.

Stephen Tusa is a Managing Director and Senior Equity Analyst at JPMorgan Chase & Co., specializing in industrials sector research with additional focus on computer and technology, construction, and related areas. He covers 31 specific companies including Otis Worldwide, Carrier Global, Hubbell, WESCO International, Pentair, APG, and others across NYSE and NASDAQ, having issued 168 ratings over the last 11 years with 36.9% Buy, 41.1% Hold, 21.4% Sell, and 0.6% Strong Buy recommendations. While detailed performance metrics like success rates and returns require subscription access, Tusa has a notable track record highlighted by influential calls such as impacting GE's valuation and positive outlooks on grid tech firms like Vertiv Holdings. Tusa has been with JPMorgan Chase & Co. for over a decade, building a career in equity research focused on industrials without specified prior firms in available data; his professional credentials include standard analyst registrations typical for a managing director at a major investment bank.

Tusa's questions to ALBANY INTERNATIONAL CORP /DE/ (AIN) leadership

Question · Q4 2025

Tusa inquired about the company's confidence in avoiding future negative EAC (Estimate at Completion) charges, particularly after resolving CH-53K issues. He also asked if the 13% underlying margin for AEC is a reasonable run rate for 2026 and sought clarification on how the Amelia Earhart Facility's 10% margins and CH-53K's performance impact the rest of the AEC business's margin profile.

Answer

Gunnar Kleveland, President and CEO, stated that a large charge was taken in Q3 to de-risk the CH-53K program, which is now performing to expectations, and no large EAC charges are expected for the rest of the year. Will Station, CFO, confirmed that a 13% underlying AEC margin is a reasonable run rate until the Salt Lake strategic review is complete. Station clarified that the CH-53K program will not incur future losses due to the Q3 charge, and the goal for the remaining AEC business is to achieve mid-to-low teens margins, contingent on resolving the Salt Lake strategic review.

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Fintool can predict ALBANY INTERNATIONAL CORP /DE/ logo AIN's earnings beat/miss a week before the call