Albany International reports Q1 EPS 91c, consensus 82c

Reports Q1 revenue $269M, consensus $254.8M. "We are pleased to report another strong quarter," said Albany International CEO, Bill Higgins. "Both of our businesses segments performed well and are on-track with their near-term and strategic plans. Our revenue of $269 million was up $25 million or 10% year-over-year. Engineered Composites grew first quarter sales approximately 29% compared to the first quarter of 2022 driven by higher program revenues from CH-53K, LEAP and contributions from our smaller programs. Machine Clothing markets remained healthy and the business segment posted stable revenue compared to the first quarter of 2022 with outstanding profitability."