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Albany Earnings: What To Look For From AIN

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Industrial equipment and engineered products manufacturer Albany (NYSE: AIN) will be announcing earnings results this Tuesday before market open. Here’s what you need to know.

Albany missed analysts’ revenue expectations last quarter, reporting revenues of $261.4 million, down 12.4% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Is Albany a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Albany’s revenue to decline 3.5% year on year, improving from the 11.3% decrease it recorded in the same quarter last year.

Albany Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Albany has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Albany’s peers in the general industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Columbus McKinnon delivered year-on-year revenue growth of 10.5%, beating analysts’ expectations by 5.3%, and GE Aerospace reported revenues up 20.1%, topping estimates by 6.3%. Columbus McKinnon’s stock price was unchanged after the resultswhile GE Aerospace was down 7.7%.

Read our full analysis of Columbus McKinnon’s results here and GE Aerospace’s results here.

There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 7.1% on average over the last month. Albany is up 3.4% during the same time and is heading into earnings with an average analyst price target of $55.25 (compared to the current share price of $59.39).

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