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.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.