The 10-second takeaway
For the quarter ended June 30 (Q2), Albany International beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share dropped to a loss.
Gross margins grew, operating margins expanded, net margins dropped.
Albany International logged revenue of $191.9 million. The four analysts polled by S&P Capital IQ expected to see a top line of $186.4 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $244.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.47. The four earnings estimates compiled by S&P Capital IQ predicted $0.25 per share. GAAP EPS were -$1.08 for Q2 versus $0.28 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 40.9%, 200 basis points better than the prior-year quarter. Operating margin was 14.4%, 570 basis points better than the prior-year quarter. Net margin was -17.6%, 2,120 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $188.0 million. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $756.4 million. The average EPS estimate is $0.74.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 23 members out of 46 rating the stock outperform, and 23 members rating it underperform. Among 11 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), eight give Albany International a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Albany International is hold, with an average price target of $23.33.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Albany International. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Albany International to My Watchlist.