Albany Intl Q1 rev $313M (+16.4%); adj EPS $0.90 vs $0.91; guides FY24

ALBANY INTERNATIONAL CORP /DE/

2024-Q1 EPS reported $0.87 revenue$313,330,000

Net revenues $313.3M, up 16.4% YoY; Machine Clothing +20.9% (Heimbach), AEC +10.6%.
Net income $27.3M ($0.87 diluted EPS); adjusted diluted EPS $0.90 vs $0.91 prior year.
Gross margin fell >200bps to 34.7% (36.9% Q1 2023); Heimbach integration progressing, Europe softness.
AEC revenue $128.1M driven by commercial programs; segment operating income $9.2M vs $9.4M prior year.
FY2024 guidance reaffirmed: revenue $1.26-1.33B, adj EPS $3.55-4.05, Adj EBITDA $260-290M.

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 first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

On April 29, 2024 Albany International issued a news release reporting first quarter 2024 financial results.

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

ALBANY INTERNATIONAL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000819793-24-000032

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