Wednesday, February 13, 2019

Albany International Corp. (AIN)

Grand finale to a stellar quarter.

Albany International
Corp. is a textiles and materials processing company. The Company operates
through two segments: Machine Clothing (MC) and Albany Engineered Composites
(AEC). Its MC segment supplies permeable and impermeable belts used in the
manufacture of paper, paperboard, nonwovens, fiber cement and various other
industrial applications. 

Christian Herbosa, Research Analyst, Noble Capital Markets, Inc.

RATING: Market Perform

• Surpassed Guidance by Leaps and Bounds. AIN finished 2018 with full year revenue growth of 36% over 2017 in the AEC Segment and full year adjusted EBITDA of $212.1 in the MC segment. These results significantly exceeded the company’s original guidance ranges of 20%-30% revenue growth in AEC and adjusted EBITDA of $180-$195 in MC.
• AEC Improves Efficiency Ahead of Schedule. During Q4, AIN achieved adjusted EBITDA margins of 17.9% in the AEC Segment nearly achieving the company’s 2020 target. These margins may continue to gradually improve…
  
  
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NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.