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Dec 31, 2019
Albany Q4 2019 Earnings Report
Albany International reported strong Q4 2019 results with increased net sales and operating income.
Key Takeaways
Albany International reported a 2.4% increase in net sales, driven by growth in Engineered Composites. Gross profit and operating income also increased, contributing to a net income of $29.1 million, or $0.90 per share.
Net sales increased by 2.4% due to growth in Engineered Composites segment.
Gross profit increased by 9.9% driven by increased sales and margin expansion.
Operating income increased by 16.5% due to higher gross profit.
Net income attributable to the company increased to $29.1 million, or $0.90 per share.
Revenue by Segment
Forward Guidance
Albany International expects another strong year, with the Machine Clothing segment delivering strong margins and the Engineered Composites segment continuing to deliver strong margins and sales growth, though impacted by Boeing's production pause on the 737 MAX program.
Positive Outlook
- Machine Clothing segment is expected to deliver another good year.
- Machine Clothing segment is expected to continue to deliver strong margins.
- Engineered Composites segment is expected to continue to deliver strong margins.
- Engineered Composites segment is expected to deliver strong sales growth on programs unrelated to the 737 MAX.
- Company enters 2020 in excellent financial health with strong operations focused on expanding profitability and the long-term growth of our business segments
Challenges Ahead
- Paper machine clothing market in 2020 expected to be slightly softer.
- Modest impact due to the disruption to Chinese facilities caused by the recent coronavirus outbreak.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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