The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Albany International beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share dropped significantly.
Gross margins grew, operating margins were steady, net margins dropped.
Albany International booked revenue of $194.6 million. The three analysts polled by S&P Capital IQ expected net sales of $192.7 million on the same basis. GAAP reported sales were 22% lower than the prior-year quarter's $250.0 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 $0.46. The four earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. GAAP EPS of $0.30 for Q3 were 43% lower than the prior-year quarter's $0.53 per share.
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%, 260 basis points better than the prior-year quarter. Operating margin was 13.3%, about the same as the prior-year quarter. Net margin was 4.9%, 180 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $189.1 million. On the bottom line, the average EPS estimate is $0.37.
Next year's average estimate for revenue is $761.1 million. The average EPS estimate is $1.46.
The stock has a three-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 12 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), eight give Albany International a green thumbs-up, and four 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 $24.33.
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