Albany (AIN) Q1 Earnings: What To Expect

Industrial equipment and engineered products manufacturer Albany (NYSE:AIN) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.

Albany missed analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $286.9 million, down 11.3% year on year. It was a disappointing quarter for the company, with full-year revenue guidance missing analysts’ expectations.

Is Albany a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Albany’s revenue to decline 6.1% year on year to $294.1 million, a reversal from the 16.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.62 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Albany has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Albany’s peers in the general industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 23%, beating analysts’ expectations by 1.7%, and 3M reported a revenue decline of 3.9%, topping estimates by 1.5%. GE Aerospace traded up 8.6% following the results while 3M was also up 8%.

Read our full analysis of GE Aerospace’s results here and 3M’s results here.

Investors in the general industrial machinery segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Albany is down 3.6% during the same time and is heading into earnings with an average analyst price target of $79.25 (compared to the current share price of $66.58).

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