07:07 AM EDT, 10/03/2024 (MT Newswires) -- Albany International ( AIN ) shares dropped over 6% pre-bell Thursday after the company lowered its full-year 2024 outlook.

The company said it now expects full-year adjusted EPS of between $2.90 and $3.40 from the previous outlook of between $3.55 and $4.05. Analysts polled by Capital IQ expect $3.74.

Revenue outlook for the year is now projected to be $1.22 billion to $1.26 billion, compared with $1.26 billion to $1.33 billion previously. Analysts surveyed by Capital IQ expect $1.29 billion.

These changes largely reflect revised revenue and profitability expectations for the aerospace business within its engineered composites segment, the company said.

Price: 81.18, Change: -5.74, Percent Change: -6.60