Aerospace and Defense: Takeaways from the Truist Securities Industrials & Services Conference

研报英文原文证据摘录

Aerospace and Defense: Takeaways from the Truist Securities Industrials & Services Conference

Truist Securities

Equity Research Report June 18, 2026

INDUSTRIALS: Aerospace and

Defense Aerospace and Defense: Takeaways

from the Truist Securities Industrials &

Alexandra Mandery Services Conference

212-319-3461 We hosted 16 companies at the Truist Securities Industrials & Services Conference

Alexandra.Mandery@truist.com

June 16th and 17th in New York City. The most frequent topics included commercial

aerospace OEM build rates, missile demand, capacity requirements, and impacts of

6 Page Document the geopolitical conflicts. See below for high-level takeaways from investor meetings

across our two-day conference.

Reasons for this report

Truist Securities Industrials & Services Conference Day 1:

✓ Truist Securities Hosted Event Takeaways

AAR Corp. (AIR, Buy):

• AAR's software segment continues to get traction from customers as many are

testing the platforms on a trial basis; at this point they are continuing to refine

and develop the product. Trax manages all elements of operations for customers

including maintenance operations, financials and is cross-functional so some

customers have thousands of users.

• HAECO integration is underway with AAR's systems and processes being integrated

into the facilities. The timeline of integration is on-track or slightly faster than the 1-1.5

year expected timeline.

Albany International Corp. (AIN, Hold):

• On Machine Clothing, there has been an overproduction in China that has impacted

the business. There is a bright spot in the portfolio as tissue has had strong demand,

which is offsetting some of the other paper products. Last quarter management noted

that the issue had stabilized, but there continues to be limited visibility.