Albany Cuts FY24 Total Company Revenue Outlook From $1.26B - $1.33B To $1.22B - $1.26B (Est $1.29B); Adjusted EPS Forecast From $3.55 - $4.05 To $2.90 - $3.40 (Est $3.74)
Portfolio Pulse from Benzinga Newsdesk
Albany International has revised its FY24 revenue outlook downwards from $1.26B-$1.33B to $1.22B-$1.26B, and adjusted EPS forecast from $3.55-$4.05 to $2.90-$3.40, below the estimated $3.74.
October 03, 2024 | 10:09 am
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Albany International has lowered its FY24 revenue and EPS forecasts, indicating potential challenges in meeting previous financial expectations.
The downward revision of both revenue and EPS forecasts suggests that Albany International is facing difficulties that could negatively impact its financial performance. This is likely to lead to a negative short-term reaction in the stock market as investors adjust their expectations.
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