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Mar 31, 2020
Albany Q1 2020 Earnings Report
Albany International's first quarter results were reported, showing a decrease in net sales and net income compared to the prior year.
Key Takeaways
Albany International reported a decrease in net sales by 6.2% and a decrease in net income attributable to the company from $29.2 million to $9.1 million year-over-year. The company's operating income decreased slightly, while adjusted EPS was $0.78 compared to $0.87 in the prior year. The company highlighted its focus on workforce safety and customer commitments amid the COVID-19 pandemic.
Net sales decreased by 6.2% compared to the prior year.
Gross profit decreased by 2.5% compared to the same period in 2019.
Operating income decreased by 1.2% compared to the prior year.
Net income attributable to the Company was $9.1 million ($0.28 per share), compared to $29.2 million ($0.90 per share) in Q1 2019.
Revenue by Segment
Forward Guidance
This press release may contain statements, estimates, guidance or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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