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Jun 30, 2020
Albany Q2 2020 Earnings Report
Albany International reported operating results, facing pandemic challenges, excelling in adapting to the environment, and driving operational improvements.
Key Takeaways
Albany International reported a decrease in net sales by 17.5% compared to the prior year, primarily due to a decline in the Engineered Composites segment. Despite these challenges, the company delivered exceptional margins, driven by favorable adjustments in contract profitability and currency benefits.
Addressed pandemic challenges effectively while prioritizing employee health and safety.
Teams excelled by adapting safely, driving operational improvements, and serving customers well.
Experienced year-over-year gross margin expansion in both segments.
Strong balance sheet and cash flow enable continued investment amid economic uncertainty.
Revenue by Segment
Forward Guidance
Albany International re-introduced financial guidance for the full-year 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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