ALBANY INTERNATIONAL Reports Fourth Quarter FY2022 Earnings Results on February 13 2023.

Earnings Overview

On February 13 2023, ALBANY INTERNATIONAL ($NYSE:AIN) reported its financial performance for the fourth quarter of FY2022, ending December 31 2022. Total revenue declined 36.7% compared to the same period in FY2021, settling at USD 18.1 million. Nonetheless, net income experienced a 12.0% increase to USD 268.8 million.

Transcripts Simplified

Albany International reported total company net sales of $268.8 million for the fourth quarter, representing an increase of 12% year-over-year. After adjusting for currency translation effects, net sales increased by 15.5%. Machine Clothing net sales were flat year-over-year while Engineered Composites’ net sales grew 44.7%.

Gross profit was $97.1 million, an increase of 1.1%, with a margin of 36.1%. SG&A expenses increased to $59.3 million, resulting in total operating income of $37.9 million, down from $41.7 million in the prior year quarter.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Albany International. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Albany International. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Albany International. More…

Key Ratios Snapshot

Some of the financial key ratios for Albany International are shown below. More…

Stock Price

On Monday February 13, 2023 ALBANY INTERNATIONAL, a global leader in advanced textiles and materials processing technologies, reported their fourth quarter FY2022 earnings results. Despite the ongoing economic uncertainty stemming from the global pandemic, ALBANY INTERNATIONAL delivered strong financial results that exceeded market expectations. At the close of the trading session, ALBANY INTERNATIONAL shares rose 1.0% from the previous closing price of $108.7 to $109.8.

ALBANY INTERNATIONAL’s strong financial performance was attributed to their strategic business model, which focuses on providing innovative solutions to customers with complex needs. As the demand for sustainable textiles continues to surge, ALBANY INTERNATIONAL is well-positioned to capitalize on this trend and continue to deliver substantial growth for its investors. Live Quote…

Analysis

At GoodWhale, we have conducted an analysis of ALBANY INTERNATIONAL‘s fundamentals. After looking over the Star Chart, we have determined that ALBANY INTERNATIONAL has a high health score of 9/10 considering its cashflows and debt, and is therefore capable of funding future operations and paying off debt. Classified as a ‘cow’ type of company, ALBANY INTERNATIONAL has the track record of paying out consistent and sustainable dividends, something which is likely to be attractive to many investors. Looking further into the company’s fundamentals, we can see that ALBANY INTERNATIONAL is strong in dividends and profitability, medium in asset, and weak in growth. This makes it ideal for investors who are looking to invest in a company with potential for long-term success. More…

Peers

Their competitors include Trident Ltd, Jasch Industries Ltd, and Ruentex Industries Ltd, all of whom are dedicated to providing innovative solutions to meet the dynamic needs of their customers.

– Trident Ltd ($BSE:521064)

Trident Ltd is an Indian yarn and fabric manufacturer, producing a wide range of products for the home textiles, apparel, and industrial markets. As of 2023, the company has a market capitalization of 171.99B, indicating a strong financial performance. Additionally, the company has a Return on Equity of 13.46%, demonstrating its ability to generate returns for its shareholders. This is indicative of Trident Ltd’s success in pursuing their long-term strategies and delivering value to their stakeholders.

– Jasch Industries Ltd ($BSE:500220)

Jasch Industries Ltd is a multinational conglomerate headquartered in Hong Kong. The company is engaged in a variety of businesses including industrial manufacturing, engineering services, infrastructure development and financial services. As of 2023, the company has a market capitalization of 1.92 billion and a Return on Equity of 20.32%. The company’s market capitalization reflects its current value and potential, while the high Return on Equity indicates the efficiency of the management’s ability to generate profits from shareholders’ investments.

– Ruentex Industries Ltd ($TWSE:2915)

Ruentex Industries Ltd is a Taiwanese conglomerate with a market cap of 68.33B as of 2023. The company is involved in a wide range of activities, from retail to financial services, and is one of the largest companies in Taiwan. The company has a remarkable Return on Equity of 105.92%, indicating that it has been able to generate a significant amount of wealth for its shareholders. This impressive ROE is a testament to the company’s successful business strategies and growth plans.

Summary

Investors in ALBANY INTERNATIONAL should be aware of the company’s fourth quarter of FY2022 financial results, released on February 13 2023. Total revenue was down 36.7% year-over-year, at USD 18.1 million, but net income was up 12.0% to USD 268.8 million. Despite the drop in revenue, the increase in net income suggests that ALBANY INTERNATIONAL is still performing well and is well-positioned for continued success. Investors should keep an eye on the company’s numbers going forward and weigh the pros and cons of investing in ALBANY INTERNATIONAL.