NYSE$AIN
Albany International Corp · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Albany International's Q4 2020 results reflected challenges due to the pandemic and Boeing 737 MAX grounding, but operations performed well with impressive profit margins in both segments.
Albany International reported net sales of $226.9 million, a decrease of 12% compared to the prior year, with a net income of $27.5 million ($0.85 per share). Adjusted EPS was $0.89, and Adjusted EBITDA was $57.3 million, down 10.4% year-over-year. The company highlighted strong free cash flow and a healthy balance sheet.
- Net sales decreased by 12% to $226.9 million due to lower demand for LEAP components in the Engineered Composites segment.
- Operating income decreased by 20% to $35.0 million, primarily due to lower gross profit and higher STG&R expenses.
- Net income attributable to the Company was $27.5 million ($0.85 per share), compared to $29.1 million ($0.90 per share) in Q4 2019.
- Adjusted EBITDA decreased by 10.4% to $57.3 million.
Headline financials
Revenue & EPS history
Albany · Revenue · Quarterly
$227M
Revenue by segment
Albany · $144M total across 1 segment · Q4 2020
- Machine Clothing$144M-4.3%100.0%
Forward guidance
Albany International provided initial financial guidance for 2021, anticipating strong performance in Machine Clothing but expecting a significant impact on Engineered Composites due to customer destocking.
Tailwinds
- Total company revenue of between $850 and $890 million.
- Effective income tax rate, including tax adjustments, of 28% to 30%.
- Total company depreciation and amortization of between $70 and $75 million.
- GAAP and Adjusted earnings per share of between $2.40 and $2.80.
- Total company Adjusted EBITDA of $195 to $220 million.
Headwinds
- Engineered Composites being significantly impacted by a destocking cycle for our finished goods in our customers’ supply chains.
- Albany Engineered Composites (AEC) revenue between $275 to $295 million.
- Albany Engineered Composites Adjusted EBITDA of $55 to $65 million.
- Capital expenditures in the range of $50 to $60 million.
- Machine Clothing revenue of $570 to $590 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+0.3%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+3.4%
Avg return
30 days after
46%
31 / 68 earnings
Positive
+19.1%
Q3 2015
Best reaction
-12.5%
Q1 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +0.8% | +11.2% | |
| Q4 2025 | -1.6% | -0.5% | -10.0% | |
| Q3 2025 | -1.0% | -16.5% | -9.1% | |
| Q1 2025 | -5.4% | -3.2% | +0.5% | |
| Q4 2024 | -6.4% | -9.3% | -12.0% | |
| Q3 2024 | -5.2% | -1.9% | +15.7% | |
| Q2 2024 | +3.6% | +5.5% | +2.4% | |
| Q1 2024 | -9.0% | -3.4% | -2.7% | |
| Q4 2023 | +3.3% | +2.6% | +5.5% | |
| Q3 2023 | -2.3% | -5.1% | -0.3% | |
| Q2 2023 | -0.4% | +2.0% | -0.7% | |
| Q1 2023 | -5.2% | +0.2% | -5.4% | |
| Q4 2022 | -3.8% | -4.7% | -17.8% | |
| Q3 2022 | +1.0% | +4.3% | +17.2% | |
| Q2 2022 | +5.3% | +12.2% | +14.1% | |
| Q1 2022 | -7.7% | -5.9% | -1.2% | |
| Q4 2021 | +0.6% | -0.1% | -1.9% | |
| Q3 2021 | +1.8% | -0.6% | +8.2% | |
| Q2 2021 | +4.9% | +5.8% | -3.7% | |
| Q1 2021 | +2.2% | +1.5% | -2.6% | |
| Q4 2020 | -5.0% | -2.6% | +13.8% | |
| Q3 2020 | -5.5% | +1.3% | +35.1% | |
| Q2 2020 | -5.4% | -4.1% | +3.8% | |
| Q1 2020 | -0.6% | -0.8% | +17.2% | |
| Q4 2019 | +2.5% | +3.2% | -19.7% | |
| Q3 2019 | +1.0% | +4.2% | +3.1% | |
| Q2 2019 | +9.1% | +6.9% | +4.6% | |
| Q1 2019 | +5.4% | +8.4% | -5.6% | |
| Q4 2018 | +5.8% | +8.6% | +5.0% | |
| Q3 2018 | +6.4% | +7.5% | +8.8% | |
| Q2 2018 | +15.8% | +17.3% | +19.5% | |
| Q1 2018 | +4.2% | +3.4% | +9.5% | |
| Q4 2017 | +3.3% | +0.8% | +2.7% | |
| Q3 2017 | +4.1% | +1.9% | +12.5% | |
| Q2 2017 | -5.4% | -2.5% | +0.2% | |
| Q1 2017 | -2.1% | -1.9% | +4.4% | |
| Q4 2016 | +0.7% | +0.0% | -5.6% | |
| Q3 2016 | -3.2% | -2.6% | +16.6% | |
| Q2 2016 | -3.1% | +1.7% | +0.0% | |
| Q1 2016 | -3.4% | — | — | |
| Q4 2015 | +11.7% | — | — | |
| Q3 2015 | +19.1% | — | — | |
| Q2 2015 | -5.0% | — | — | |
| Q1 2015 | -1.4% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | -0.8% | — | — | |
| Q2 2014 | +3.5% | — | — | |
| Q1 2014 | -0.9% | — | — | |
| Q4 2013 | +1.5% | — | — | |
| Q3 2013 | -3.0% | — | — | |
| Q2 2013 | -0.7% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2012 | +3.8% | — | — | |
| Q3 2012 | +4.4% | — | — | |
| Q2 2012 | +10.8% | — | — | |
| Q1 2012 | -12.5% | — | — | |
| Q1 2009 | -3.1% | — | — | |
| Q2 2009 | -3.1% | — | — | |
| Q3 2009 | -3.1% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q4 2009 | -3.1% | — | — | |
| Q4 2011 | -3.1% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q2 2010 | -8.6% | — | — | |
| Q1 2010 | +7.3% | — | — | |
| Q4 2010 | +7.3% | — | — | |
| Q1 2011 | +7.3% | — | — |
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