Industrial equipment and engineered products manufacturer Albany (NYSE: AIN) will be reporting results this Wednesday afternoon. Here’s what to expect.
Albany missed analysts’ revenue expectations last quarter, reporting revenues of $329.5 million, up 5.8% year on year. It was a slower quarter for the company, with a beat of analysts’ EPS 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 grow 24.7% year on year, a reversal from the 12.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q3 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 17.5%, beating analysts’ expectations by 3.3%, and Dover reported revenues up 7.5%, topping estimates by 0.9%. GE Aerospace traded down 4.9% following the results while Dover’s stock price was unchanged.
Read our full analysis of GE Aerospace’s results here and Dover’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the general industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. Albany is up 5.1% during the same time and is heading into earnings with an average analyst price target of $67.67 (compared to the current share price of $63.15).
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