Albany International: Fourth Quarter Earnings Overview
Albany International Announces Fourth-Quarter Financial Results
Albany International Corp., headquartered in Portsmouth, New Hampshire, revealed its financial performance for the fourth quarter, posting a net profit of $13.9 million.
The company reported earnings of $0.48 per share, with adjusted earnings—excluding restructuring and one-time expenses—totaling $0.65 per share.
During the quarter, the manufacturer of textiles and composites generated $321.2 million in revenue.
Looking at the full year, Albany International recorded a net loss of $57.3 million, or $1.94 per share, marking a shift to negative earnings. Annual revenue reached $1.18 billion.
Outlook for the Next Quarter
For the first quarter ending in March, the company anticipates earnings per share to be between $0.50 and $0.60.
Projected revenue for the upcoming fiscal quarter is expected to fall within the $275 million to $285 million range.
Stock Performance
Since the start of the year, Albany International’s share price has climbed 14%. However, over the past twelve months, the stock has declined by 27%.
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