Albany International Increases Sales but Misses Estimates on Earnings

Albany International (NYS: AIN) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Albany International met expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share increased significantly. GAAP earnings per share dropped significantly.


Gross margins grew, operating margins grew, net margins dropped.

Revenue details
Albany International logged revenue of $186.7 million. The four analysts polled by S&P Capital IQ expected sales of $184.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.28. The five earnings estimates compiled by S&P Capital IQ averaged $0.29 per share. Non-GAAP EPS of $0.28 for Q1 were 75% higher than the prior-year quarter's $0.16 per share. (The prior-year quarter included $1.51 per share in earnings from discontinued operations.) GAAP EPS of $0.36 for Q1 were 76% lower than the prior-year quarter's $1.50 per share. (The prior-year quarter included $1.51 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 39.0%, 110 basis points better than the prior-year quarter. Operating margin was 12.4%, 770 basis points better than the prior-year quarter. Net margin was 6.2%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $196.0 million. On the bottom line, the average EPS estimate is $0.42.

Next year's average estimate for revenue is $782.1 million. The average EPS estimate is $1.50.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 28 members out of 51 rating the stock outperform, and 23 members rating it underperform. Among 12 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give Albany International a green thumbs-up, and three 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 $27.33.

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The article Albany International Increases Sales but Misses Estimates on Earnings originally appeared on Fool.com.

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, backed by a real-money portfolio. 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.

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