Albany International reports Q4 EPS $1.22, consensus 82c

Reports Q4 revenue $323.6M, consensus $298.3M. “Fourth quarter results were particularly strong with outstanding contributions from both of our business segments,” said Gunnar Kleveland, CEO. “Our first full quarter of Heimbach integration is complete, and we are on track to deliver on the promise of that acquisition. Meanwhile, our core Machine Clothing operations grew fourth quarter revenue and expanded profit margins despite soft business conditions in Europe. The Engineered Composites segment continues to grow. We have completed another year of growth on our commercial programs, and recent program wins were also important drivers of year-over-year revenue and profit growth in the business. We are well positioned for another strong year in 2024.”