FX.co ★ Albany International Q1 Profit Increases, beats estimates

Albany International (AIN) recently reported an increase in its first-quarter earnings compared to the same time last year, surpassing Wall Street predictions.

The company's net income amounted to $27.3 million, equating to $0.87 per share. This is an increase compared to last year's first-quarter returns of $26.9 million or $0.86 per share.

When excluding certain factors, Albany International revealed adjusted earnings of $0.90 per share for the quarter.

On average, analysts had predicted that the company would earn $0.87 per share—a figure aggregated by Thomson Reuters. These estimates are typically without taking into account any special items.

The company's revenue for the quarter saw a 16.4% rise, increasing to $313.3 million from $269.1 million the previous year.

A glance at Albany International's earnings according to GAAP standards:

- In Q1, the earnings were $27.3 million, compared to $26.9 million the previous year.

- The earning per share (EPS) in Q1 was $0.87, compared to $0.86 last year.

- The revenue for Q1 was $313.3 million, compared to $269.1 million the previous year.

In terms of guidance:

- The full-year EPS is expected to be between $3.55-$4.05.

- The full-year revenue is predicted to be between $1.26-$1.33 Billion.