Albany Says Growth In Aerospace Programs Is Resulting In More Complex Projects, Where Manufacturing Learning Curve And Labor Ramp Are Steeper

Benzinga · Oct 3 18:10

Following its regular quarterly review of program costs and estimates relative to certain large complex aerospace contracts the Company has updated its labor, material input and scrap cost assumptions over the duration of certain long-term contracts.

These increased cost assumptions as well as the impact of suspended production at a key customer pending their union negotiations will result in an approximate $24 million negative Estimate-at-Completion (EAC) adjustment in the third quarter of 2024. Changes in other forecast assumptions are projected to lower second-half pre-tax earnings by an additional $8 million.

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Albany Says Growth In Aerospace Programs Is Resulting In More Complex Projects, Where Manufacturing Learning Curve And Labor Ramp Are Steeper

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