Albany International Q3 revenue rises 7.9% to $281M; adjusted EPS $1.02; raises FY guidance

ALBANY INTERNATIONAL CORP /DE/

2023-Q3 EPS reported $2.58 revenue$824,325,000

Revenue of $281M (+7.9% YoY); net income $27.1M ($0.87 EPS); adjusted EPS $1.02 vs $1.15 prior year.
Machine Clothing revenue +8.6% including Heimbach; AEC revenue +6.9% on LEAP and Boeing programs.
Heimbach acquisition closed Aug 31; expected to be accretive to earnings and cash flow in 2025.
FY 2023 guidance raised: revenue $1.100-1.130B; adjusted EPS $3.35-$3.70, up $0.08 at midpoint.
Operating income $40.1M vs $53.6M prior year due to higher STG&R expenses (executive transition, acquisition costs).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALBANY INTERNATIONAL CORP /DE/ reported financial results for third quarter 2023.

Period: third quarter 2023
Result: reported results

Exact text from the filing

On November 6, 2023 Albany International issued a news release reporting third quarter 2023 financial results.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

ALBANY INTERNATIONAL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000819793-23-000089

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