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Stock impact report

Albany International CFO Breaks Down AEC Q4 Surge, Warns Gains Won't Repeat at JPMorgan Conference [Yahoo! Finance]

Albany International Corporation (AIN) 
Last albany international corporation earnings: 4/29 05:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
was roughly one-third from program performance (LEAP, BETA, Boeing), one-third from the absence of prior EAC cost adjustments, and one-third from a material pull-forward; Q4 revenue was about $143 million versus an expected run-rate nearer $120 million per quarter , and he warned that Q4's level is “not expecting that to repeat.” On profitability, AEC margins rose from about 9.7% in Q3 to 13% in Q4 , with management forecasting a 10%–13% range for the year absent new EAC issues and targeting mid- to upper-teens margins longer term after addressing fixed and stranded costs. The company is prioritizing a sale of its Salt Lake City structured assembly business—highlighting the site's capabilities (over 11 autoclaves )—is completing an analysis of stranded costs, and believes a buyer could be viable under the current CH-53K contract even though that program carries long-term fixed-price risk and produced a conservative Q3 charge. Interested in Albany International Corporation? Here Show less Read more
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