Stock Story -
Industrial equipment and engineered products manufacturer Albany (NYSE:AIN) will be announcing earnings results tomorrow after the bell. Here's what investors should know.
Albany met analysts' revenue expectations last quarter, reporting revenues of $313.3 million, up 16.4% year on year. It was an ok quarter for the company, with a decent beat of analysts' Engineered Composites revenue estimates but underwhelming EBITDA guidance for the full year.
Is Albany a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Albany's revenue to grow 15.6% year on year to $316.9 million, improving from the 4.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.90 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Albany has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 6.1% on average.
Looking at Albany's peers in the general industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. 3M (NYSE:MMM)'s revenues decreased 4.2% year on year, beating analysts' expectations by 3.3%, and Crane Company reported revenues up 14.1%, topping estimates by 3.9%. 3M traded up 21% following the results while Crane Company was down 5%.
Read the full analysis of 3M's and Crane Company's results on StockStory.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 2.8% on average over the last month. Albany is up 5% during the same time and is heading into earnings with an average analyst price target of $100.4 (compared to the current share price of $86.67).
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