Albany International: Q3 Earnings Snapshot
ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Wednesday reported a third-quarter loss of $97.8 million, after reporting a profit in the same period a year earlier.
The Rochester, New Hampshire-based company said it had a loss of $3.37 per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 71 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The textile and composite maker posted revenue of $261.4 million in the period.
Albany International shares have decreased 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $54.59, a drop of 26% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIN at https://www.zacks.com/ap/AIN