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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