Movers and SHAKERS
Albany International Corp. (AIN)
Woah... Why were aerospace margins so strong this quarter?
Albany International Corp. is a textiles and materials processing company. The Company operates through two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). Its MC segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
Christian Herbosa, Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Q2 Earnings Beat. Second quarter sales of $273.9 million came in slightly higher than our estimate of $270 million and was a 7.3% increase over the same period last year. Consolidated earnings of $34.1 million, however, delivered a substantial beat to our estimate of $26.8 million.
- AEC Drives Margin Enhancement. The earnings beat this quarter was primarily driven by the AEC Segment. AEC adjusted EBITDA margins of 24% were meaningfully higher than past performance, our estimates, and company guidance. These results, however, may...
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.