The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Albany International whiffed on revenues and missed 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 expanded, operating margins contracted, net margins contracted.
Albany International booked revenue of $202.6 million. The four analysts polled by S&P Capital IQ expected a top line of $227.5 million. GAAP sales were 17% lower than the prior-year quarter's $244.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.40. The four earnings estimates compiled by S&P Capital IQ predicted $0.47 per share on the same basis. GAAP EPS were -$0.23 for Q4 versus $0.65 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 39.5%, 340 basis points better than the prior-year quarter. Operating margin was 8.6%, 80 basis points worse than the prior-year quarter. Net margin was -3.6%, 1,200 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $227.3 million. On the bottom line, the average EPS estimate is $0.40.
Next year's average estimate for revenue is $913.3 million. The average EPS estimate is $1.75.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 22 members out of 45 rating the stock outperform, and 23 members rating it underperform. Among 15 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 12 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 outperform, with an average price target of $28.00.
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