Albany International Corp. ( (AIN) ) has released its Q4 earnings. Here is a breakdown of the information Albany International Corp. presented to its investors.
Albany International Corp. is a leading developer and manufacturer of engineered components, specializing in advanced materials processing and automation capabilities, with a focus on the machine clothing and aerospace sectors.
In its fourth-quarter 2024 earnings report, Albany International Corp. announced a new $250 million share repurchase program, highlighting its strategic focus on capital allocation and shareholder value. The company reported record annual revenues of nearly $1.25 billion, driven by organic growth and the acquisition of Heimbach.
Key financial metrics for the fourth quarter included net revenues of $286.9 million, a decrease of 11.3% from the previous year, and a gross profit of $90.3 million, down 24.6%. The company’s net income for the quarter was $17.7 million, or $0.56 per share, compared to $30.5 million, or $0.97 per share, in the same period last year. Despite these declines, Albany International generated a free cash flow of $59 million in the fourth quarter.
The company’s strategic initiatives included a focus on working capital and cash flow management, as well as the re-initiation of its share repurchase program, with $15 million of shares repurchased in the fourth quarter. The new $250 million share repurchase program underscores Albany International’s commitment to enhancing shareholder value.
Looking forward to 2025, Albany International anticipates total company revenue between $1.165 billion and $1.265 billion, with an adjusted EBITDA range of $240 million to $260 million. The company remains on solid financial footing, poised to execute its growth strategy effectively.