The 10-second takeaway
For the quarter ended June 30 (Q2), Albany International beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share dropped significantly. GAAP loss per share dropped.
Gross margins shrank, operating margins dropped, net margins increased.
Albany International notched revenue of $198.0 million. The four analysts polled by S&P Capital IQ wanted to see revenue of $194.2 million on the same basis. GAAP reported sales were 3.1% higher than the prior-year quarter's $191.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.27. The five earnings estimates compiled by S&P Capital IQ anticipated $0.39 per share. Non-GAAP EPS of $0.27 for Q2 were 43% lower than the prior-year quarter's $0.47 per share. (The prior-year quarter included $0.77 per share in earnings from discontinued operations.) GAAP EPS were -$0.23 for Q2 compared to -$1.08 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 39.1%, 180 basis points worse than the prior-year quarter. Operating margin was 10.5%, 390 basis points worse than the prior-year quarter. Net margin was -3.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $197.7 million. On the bottom line, the average EPS estimate is $0.41.
Next year's average estimate for revenue is $777.2 million. The average EPS estimate is $1.45.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 27 members out of 50 rating the stock outperform, and 23 members rating it underperform. Among 13 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine 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 $36.00.
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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. The Motley Fool has no position in any of the stocks mentioned. 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.