Loading...
Albany Q4 2024 Earnings Report
Albany International reported a decrease in net revenues and gross profit for the fourth quarter of 2024, with a significant decline in Adjusted EBITDA compared to the prior year.
Key Takeaways
Albany International reported a challenging fourth quarter of 2024 with net revenues down 11.3% and gross profit decreasing by 24.6% compared to the prior year. Adjusted EBITDA saw a substantial 33.4% decline. Despite this, the company generated strong free cash flow and re-initiated its share repurchase program, authorizing a new $250 million program.
Net revenues for Q4 2024 were $286.9 million, an 11.3% decrease from the prior year.
Gross profit for Q4 2024 was $90.3 million, down 24.6% compared to Q4 2023.
Adjusted EBITDA for Q4 2024 was $50.0 million, a 33.4% decrease from Q4 2023.
The Board authorized a new $250 million share repurchase program, superseding the previous one.
Revenue by Segment
Forward Guidance
Albany International's initial financial guidance for the full-year 2025 projects total company revenue between $1.165 billion and $1.265 billion, with Adjusted EBITDA between $240 million and $260 million. The effective income tax rate is expected to be approximately 31%, and diluted EPS is forecasted between $3.00 and $3.40.
Positive Outlook
- Machine Clothing revenue is projected to be between $705 million and $755 million.
- Machine Clothing Adjusted EBITDA is expected to be between $220 million and $240 million.
- Albany Engineered Composites revenue is projected to be between $460 million and $510 million.
- Albany Engineered Composites Adjusted EBITDA is expected to be between $60 million and $70 million.
- Total company Adjusted EBITDA is projected to be between $240 million and $260 million.
Challenges Ahead
- Effective income tax rate is expected to be approximately 31%, an increase from the prior year's Q4 rate.
- Capital expenditures are projected to be in the range of $85 million to $95 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...