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Albany International (AIN) Q4 FY2023 earnings: revenue $324 million, up 20.4% on the year

Albany International Corp. (AIN) reported revenue of $324 million for Q4 FY2023, the quarter ended 31 December 2023, up 20.4% on the same quarter a year earlier. Net income was $30 million, up 68.0% on the year, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.

Revenue$324 millionup 20.4%
Net income$30 millionup 68.0%
Diluted EPS$0.97
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue324281n/an/a
Cost of revenue204179n/an/a
Gross profit120102n/an/a
Gross margin37.0%36.2%n/a
Selling, general and administrative67.752.0n/an/a
Operating income41.840.1n/an/a
Operating margin12.9%14.3%n/a
Pre-tax income39.536.4n/an/a
Income tax8.99.2n/an/a
Effective tax rate22.6%25.3%n/a
Net income30.427.1n/an/a
Net margin9.4%9.6%n/a
Diluted EPS$0.97$0.87n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow74.259.1n/an/a
Capital expenditure34.714.0n/an/a
Free cash flow39.545.2n/an/a
Free cash flow margin12.2%16.1%n/a
Cash from investing-35.3-148n/an/a
Cash from financing-41.8-40.1n/an/a
Buybacks0.00.0n/an/a
Dividends paid7.87.8n/an/a
Dividend per sharen/a$0.25n/an/a
Diluted shares, weighted31m31mn/an/a
Shares outstanding at period end31m31mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity961915n/an/a
Non-controlling interest6.06.8n/an/a
Debt457491n/an/a
Operating lease liabilities50.6n/an/an/a
Other liabilities360378n/an/a
Total liabilities and equity1,8351,790n/an/a
Fixed assets602567n/an/a
Goodwill180177n/an/a
Intangible assets44.644.6n/an/a
Cash and equivalents173172n/an/a
Receivables288270n/an/a
Inventory170181n/an/a
Other assets377378n/an/a
Total assets1,8351,790n/an/a

Questions

What was Albany International's revenue in Q4 FY2023?

Albany International (AIN) reported revenue of $324 million for Q4 FY2023, the quarter ended 31 December 2023, up 20.4% on the same quarter a year earlier.

How much did Albany International earn in Q4 FY2023?

Net income for Q4 FY2023 was $30 million, up 68.0% on the year, and diluted earnings per share $0.97.

When did Albany International report Q4 FY2023 results?

Albany International filed its 10-K for the year that ended with the quarter on 26 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue281324313332298287289311261321311329
Cost of revenue179204205220208197192214311221212222
Gross profit10212010911290.490.396.597.5-49.999.999.8108
Gross margin36%37%35%34%30%31%33%31%-19%31%32%33%
SG&A52.067.754.855.552.148.453.858.551.954.158.356.1
Operating income40.141.839.042.925.224.328.322.3-11729.925.432.1
Operating margin14%13%12%13%8%8%10%7%-45%9%8%10%
Pre-tax income36.439.538.634.319.524.623.613.6-12223.123.126.0
Tax rate25%23%29%28%7%28%27%31%n/a39%33%32%
Net income27.130.427.324.618.017.717.49.2-97.813.915.317.4
Net margin10%9%9%7%6%6%6%3%-37%4%5%5%
Diluted EPS$0.87$0.97$0.87$0.79$0.57$0.57$0.56$0.31-$3.37$0.56$0.54$0.61
Operating cash flow59.174.29.683.447.078.52.132.743.973.75.6-2.7
Capital expenditure14.034.726.919.815.418.315.613.918.022.39.311.9
Free cash flow45.239.5-17.363.631.660.2-13.518.825.951.4-3.6-14.5
Buybacks0.00.00.00.00.014.269.251.350.515.00.00.0
Dividends paid7.87.88.18.18.18.18.48.38.07.77.97.9
Shares outstanding31m31m31m31m31m31m30m30m29m28m28m28m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 26 February 2024, accession 0000819793-24-000012: the filing on EDGAR. All of Albany International Corp.'s filings: EDGAR company page.

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