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News Breaks
November 2, 2012
08:07 EDTAIN, AINAlbany International downgraded to Underperform from Outperform at CLSA
CLSA downgraded Albany due to slowing growth. Price target remains $23.
News For AIN From The Last 14 Days
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February 8, 2016
17:04 EDTAINAlbany International backs near and long-term outlook
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17:03 EDTAINAlbany International sees LEAP revenue close to $200M by 2020
President and CEO Joe Morone said, "For AEC, we anticipate annual revenue growth of roughly 5%-10%, with some upside depending on a host of variables related to the LEAP ramp. EBITDA should also improve, at a steeper rate than sales. But the real significance of 2016 is that it represents the final year of preparation for the LEAP ramp, and so our highest priority will be on continuing efforts to improve yield, accelerate cost reduction, and prepare our Mexican plant for start-up in 2017. Assuming Airbus and Boeing do indeed increase production of the A320neo and 737MAX to roughly 60 aircraft per month by the end of the decade, AEC will need to manufacture over 40,000 blades and 2,000 fan cases a year by 2020, compared to roughly 2,500 blades and 100 cases in 2015. At these levels of production, LEAP revenue should grow from $50M in 2015 to close to $200M by 2020. Total AEC revenue, assuming no new programs beyond the ones already secured, should grow from $100M in 2015 to roughly $250M in 2020. The steepest ramps in production and therefore in AEC revenue and income will likely be in 2017 and 2018."
17:01 EDTAINAlbany International reports Q4 EPS ex-items 46c, consensus 34c
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