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Albany International (AIN)
NYSE:AIN
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.66Last Year’s EPS
$1.22Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 15.12%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture. While there was strong performance in the Machine Clothing segment and solid cash flow generation, significant challenges were faced, particularly in the Engineered Composites segment due to EAC adjustments and ongoing weakness in the LEAP and Boeing programs. The European market also presented headwinds. However, the company's balance sheet remains strong, and there is confidence in long-term growth, especially in defense and new business ventures.Company Guidance
During the Albany International Q3 2024 earnings call, the company provided several key metrics and guidance for the remainder of the year. Consolidated net sales reached $298 million, reflecting a 6.1% increase from the previous year, with Machine Clothing sales rising by 9.9% to $183 million, primarily due to the Heimbach acquisition. Despite challenges, the company achieved a free cash flow of $78 million year-to-date. Engineered Composites segment revenues were $115 million, albeit impacted by EAC adjustments, with a backlog exceeding $1 billion. Gross profit for the quarter was $90 million, impacted by a $22 million EAC adjustment. The guidance for 2024 was tightened, with the midpoint of adjusted EPS increased to $3.20. The leadership highlighted strong fundamentals, with plans for an Investor Day in 2025 to discuss future growth strategies.Strong Machine Clothing Performance
Machine Clothing net sales increased by 9.9% year-over-year to $183 million, driven by the Heimbach acquisition, with a gross margin improvement from 47.6% to 48.6%.
Free Cash Flow and Balance Sheet Strength
Free cash flow reached $78 million year-to-date, with a strong balance sheet evidenced by a cash balance of $127 million and $440 million of borrowing capacity.
Solid Defense Business Growth
The defense business continues to grow, primarily on the CH-53K and JASSM platforms, despite some reductions in Joint Strike Fighter program this year.
Increased Adjusted EBITDA Margins in Machine Clothing
Adjusted EBITDA margins in Machine Clothing were 35.2%, up from 34.5% in the previous year, reflecting improved operations and execution.
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AIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AIN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $70.52 | $67.69 | -4.01% |
| Aug 06, 2024 | $85.31 | $86.87 | +1.83% |
| Apr 29, 2024 | $87.50 | $79.03 | -9.68% |
| Feb 26, 2024 | $91.43 | $93.37 | +2.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Albany International (AIN) report earnings?
Albany International (AIN) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Albany International (AIN) earnings time?
Albany International (AIN) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AIN EPS forecast?
AIN EPS forecast for the fiscal quarter 2024 (Q4) is $0.66.
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