$AIN
ALBANY INTERNATIONAL CORP /DE/

2024 Q3 Form 10-Q Financial Statement

#000081979324000051 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $298.4M $332.0M
YoY Change 6.15% 21.11%
Cost Of Revenue $208.0M $219.6M
YoY Change 16.03% 28.11%
Gross Profit $90.38M $112.4M
YoY Change -11.24% 9.42%
Gross Profit Margin 30.29% 33.85%
Selling, General & Admin $52.10M $55.52M
YoY Change 0.23% 18.72%
% of Gross Profit 57.64% 49.4%
Research & Development $10.84M $11.86M
YoY Change 11.79% 14.94%
% of Gross Profit 12.0% 10.55%
Depreciation & Amortization $22.31M $22.39M
YoY Change 14.41% 24.73%
% of Gross Profit 24.68% 19.92%
Operating Expenses $52.10M $55.52M
YoY Change 0.23% -2.74%
Operating Profit $25.17M $42.91M
YoY Change -37.18% -5.96%
Interest Expense -$3.760M -$7.491M
YoY Change -10.48% -789.14%
% of Operating Profit -14.94% -17.46%
Other Income/Expense, Net -$3.257M -$5.657M
YoY Change 5716.07% -1878.93%
Pretax Income $19.50M $34.30M
YoY Change -46.36% -26.88%
Income Tax $1.282M $9.578M
% Of Pretax Income 6.57% 27.93%
Net Earnings $18.03M $24.62M
YoY Change -33.49% -7.68%
Net Earnings / Revenue 6.04% 7.42%
Basic Earnings Per Share $0.58 $0.79
Diluted Earnings Per Share $0.57 $0.79
COMMON SHARES
Basic Shares Outstanding 31.20M shares 31.20M shares
Diluted Shares Outstanding 31.37M shares 31.34M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.2M $116.4M
YoY Change -25.82% -61.31%
Cash & Equivalents $127.2M $116.4M
Short-Term Investments
Other Short-Term Assets $40.40M $49.14M
YoY Change -33.99% -11.51%
Inventory $160.6M $161.6M
Prepaid Expenses
Receivables $272.0M $280.0M
Other Receivables $29.85M $30.98M
Total Short-Term Assets $804.3M $806.5M
YoY Change -6.08% -10.77%
LONG-TERM ASSETS
Property, Plant & Equipment $583.5M $582.2M
YoY Change 2.91% 28.8%
Goodwill $180.9M $178.2M
YoY Change 1.98% -0.57%
Intangibles $41.00M $41.51M
YoY Change -8.15% 30.35%
Long-Term Investments
YoY Change
Other Assets $116.5M $116.3M
YoY Change 11.76% 2.26%
Total Long-Term Assets $948.9M $945.4M
YoY Change 1.61% 17.68%
TOTAL ASSETS
Total Short-Term Assets $804.3M $806.5M
Total Long-Term Assets $948.9M $945.4M
Total Assets $1.753B $1.752B
YoY Change -2.07% 2.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.87M $84.63M
YoY Change 11.08% 28.59%
Accrued Expenses $138.7M $129.5M
YoY Change 2.48% 32.69%
Deferred Revenue $7.122M $7.657M
YoY Change 95.39% 12.67%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $555.0K $2.732M
YoY Change -97.96%
Total Short-Term Liabilities $218.7M $224.6M
YoY Change -9.92% 24.03%
LONG-TERM LIABILITIES
Long-Term Debt $361.6M $374.3M
YoY Change -21.95% -23.14%
Other Long-Term Liabilities $154.6M $151.9M
YoY Change 9.19% 40.93%
Total Long-Term Liabilities $516.3M $526.2M
YoY Change -14.66% -11.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $218.7M $224.6M
Total Long-Term Liabilities $516.3M $526.2M
Total Liabilities $756.5M $778.5M
YoY Change -12.9% -2.29%
SHAREHOLDERS EQUITY
Retained Earnings $1.057B $1.047B
YoY Change 6.87% 7.98%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $991.0M $967.5M
YoY Change
Total Liabilities & Shareholders Equity $1.753B $1.752B
YoY Change -2.07% 2.62%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $18.03M $24.62M
YoY Change -33.49% -7.68%
Depreciation, Depletion And Amortization $22.31M $22.39M
YoY Change 14.41% 24.73%
Cash From Operating Activities $47.00M $83.39M
YoY Change -20.48% 168.42%
INVESTING ACTIVITIES
Capital Expenditures $15.43M $19.78M
YoY Change 9.43% 5.78%
Acquisitions
YoY Change
Other Investing Activities $4.000K $1.029M
YoY Change -100.0%
Cash From Investing Activities -$15.43M -$18.75M
YoY Change -89.55% 0.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.55M -70.16M
YoY Change -41.28% 494.95%
NET CHANGE
Cash From Operating Activities 47.00M 83.39M
Cash From Investing Activities -15.43M -18.75M
Cash From Financing Activities -23.55M -70.16M
Net Change In Cash 8.022M -5.511M
YoY Change -106.24% -1050.17%
FREE CASH FLOW
Cash From Operating Activities $47.00M $83.39M
Capital Expenditures $15.43M $19.78M
Free Cash Flow $31.57M $63.62M
YoY Change -29.85% 414.19%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.</span></div>
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ain Indefinite Lived Intangible Assets Including Goodwill Other Increase Decrease
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CY2024Q2 us-gaap Goodwill Impairment Loss
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0 usd
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LongTermDebt
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CY2024Q2 us-gaap Long Term Debt Noncurrent
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CY2023Q4 us-gaap Long Term Debt Noncurrent
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452667000 usd
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MaximumLeverageRatioAllowed
3.75
CY2023Q3 ain Maximum Leverage Ratio Allowed After Significant Acquisition
MaximumLeverageRatioAllowedAfterSignificantAcquisition
4.25
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3.00
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InterestCoverageRatio
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500000 usd
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CY2024Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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false
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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false

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