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Jun 30, 2021
Albany Q2 2021 Earnings Report
Reported solid performance with revenues, profitability, and free cash flow near record levels, and raised financial guidance for 2021.
Key Takeaways
Albany International reported a strong second quarter with a 4% increase in net sales to $234.5 million and raised its full-year 2021 guidance, driven by solid demand in Machine Clothing and good performance in Engineered Composites despite headwinds in the commercial aerospace supply chain.
Net sales increased by 4% to $234.5 million, or 1% after adjusting for currency translation rates.
Operating income decreased by 5% to $50.0 million, primarily due to higher STG&R expenses.
Net income attributable to the Company was $31.4 million ($0.97 per share), compared to $32.4 million ($1.00 per share) in the second quarter of 2020.
Adjusted earnings per share was $1.01, compared to $1.09 for the same period last year.
Revenue by Segment
Forward Guidance
Albany International updated its financial guidance for the full-year 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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