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Sep 30, 2021
Albany Q3 2021 Earnings Report
Albany International reported a solid third quarter with revenue increasing and raised full year financial guidance and announced a share repurchase program.
Key Takeaways
Albany International reported a strong third quarter with revenues up 9.6% to $232.4 million. The company raised its full year financial guidance for 2021 and authorized a share repurchase program of up to $200 million.
Revenues increased 9.6% to $232 million.
Machine Clothing segment sales grew 11% from 2020’s third quarter.
Engineered composites grew again in the quarter.
Board of Directors authorized a $200 million share repurchase program.
Revenue by Segment
Forward Guidance
Albany International updated its financial guidance for the full-year 2021.
Positive Outlook
- Total company revenue between $900 and $920 million.
- Effective income tax rate, including tax adjustments, between 28% and 30%.
- Total company depreciation and amortization of approximately $75 million.
- GAAP earnings per share between $3.23 and $3.38 and Adjusted earnings per share between $3.15 and $3.30.
- Total company Adjusted EBITDA between $230 to $240 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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