Albany International Q3 net income falls to $18M; revenue up 6.1% to $298M

ALBANY INTERNATIONAL CORP /DE/

2024-Q3 EPS reported $2.23 revenue$943,710,000

Net revenue $298M (+6.1% YoY); MC $183M (+9.9% on Heimbach), AEC $115M (flat).
Operating income $25M vs $40M prior year; AEC gross margin fell to 1.3% from 19.7% on EAC adjustments.
GAAP diluted EPS $0.57 (vs $0.87); adj. diluted EPS $0.80 (vs $1.02).
FY2024 guidance: rev $1.23-1.25B, adj. diluted EPS $3.10-$3.30, adj. EBITDA $237-247M.
Free cash flow YTD $78M; net debt $235M, net leverage 0.91x.

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