Albany International Corp. (NYSE: AIN) will retain its Amelia Earhart Drive facility in Salt Lake City, Utah, ending a strategic review that had considered divestment or closure.

The decision follows improved financial terms on the CH-53K helicopter program with Sikorsky, a Lockheed Martin Company, and a renegotiated contract for composite fuselage frames on the Boeing 787 Dreamliner.

Strategic Review Conclusion

Albany opted against divesting or closing the facility after securing new business wins and amended contracts that reduce program risk and stabilize aircraft production. The revised terms for the CH-53K program are expected to generate positive cash flow beginning in 2027.

Gunnar Kleveland, President and CEO, stated that retaining the facility delivers the strongest overall economic outcome while supporting critical defense capabilities for the United States Marine Corps. The company also secured a contract extension for composite fuselage frames on the Boeing 787 Dreamliner and new defense contracts, expanding its program portfolio.

Updated Financial Outlook

Consolidated net revenue outlook for Q3 2026 remains unchanged at between $320 million and $330 million. The company also provided updated guidance for Q4 2026, projecting consolidated net revenue between $325 million and $335 million, and adjusted EPS between $0.65 and $0.75.

What the Numbers Show

The divergence between stable revenue guidance and sharply higher EPS estimates in Q3 2026 indicates that the improvement in profitability is driven by margin expansion or cost avoidance rather than top-line growth. With consolidated revenue remaining flat at $320 million-$330 million compared to prior expectations, the near-doubling of EPS guidance suggests that the reversal of reach-forward losses and reduced program risk on the CH-53K contract have materially boosted bottom-line performance without impacting sales volume.

Investor Call

Albany International will host an investor call on September 2, 2026, at 8:30 am Eastern Time to discuss the strategic review outcome and financial outlook.

Albany International Corp. (NYSE: AIN) announced that Willard Station, Executive Vice President and Chief Financial Officer, is taking a medical leave of absence.

The Board of Directors appointed Sean Valashinas, the company’s Controller and Chief Accounting Officer, as acting CFO effective immediately. Valashinas joined Albany International in 2025 after serving as Vice President of Accounting, Treasury, and Tax at Resonetics. Prior to that, he worked at Standex International Corporation from 2007 to 2024.

Leadership Transition

Valashinas brings extensive experience in industrial manufacturing finance. He served as Vice President, Chief Accounting Officer, and Assistant Treasurer at Standex International Corporation, a publicly traded global industrial manufacturer. Before joining Standex, he held roles in accounting and treasury at Resonetics, a leading medical device manufacturer.

He holds an Accounting degree from the University of Scranton and an MBA from Boston University. Valashinas is also a Certified Public Accountant.

About Albany International

Albany International operates two core businesses:

• Machine Clothing: Produces custom-designed consumable belts for paper, pulp, non-wovens, and other industrial applications.
• Albany Engineered Composites: Manufactures advanced materials-based components for aerospace applications, supporting commercial and military platforms.

The company is headquartered in Portsmouth, New Hampshire, and operates 25 facilities across 12 countries. It employs approximately 5,700 people worldwide.