Reports Q1 revenue $269M, consensus $254.8M. "We are pleased to report another strong quarter," said Albany International CEO, Bill Higgins. "Both of our businesses segments performed well and are on-track with their near-term and strategic plans. Our revenue of $269 million was up $25 million or 10% year-over-year. Engineered Composites grew first quarter sales approximately 29% compared to the first quarter of 2022 driven by higher program revenues from CH-53K, LEAP and contributions from our smaller programs. Machine Clothing markets remained healthy and the business segment posted stable revenue compared to the first quarter of 2022 with outstanding profitability."
Published first on TheFly
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