Albany International Corp. operates in machine clothing and engineered composites through its subsidiaries in the United States, Switzerland, France, Brazil, China, Mexico, Germany, and other international markets. The company has two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for paper, paperboard, tissue, towel, pulp, building products, tannery, textiles, nonwovens, fiber cement, and other industrial applications, offering forming, pressing, and drying fabrics, processing belts, and engineered fabrics. The AEC segment produces 3D-woven and injected composite components for aircraft engines and composite airframe and engine components for military and commercial aircraft, selling to commercial and defense markets, space-launch vehicles, the advanced air mobility market, and end-users. Incorporated in 1895, Albany International Corp. is headquartered in Portsmouth, New Hampshire.
Albany Engineered Composites Extends Boeing 787 Contract
Albany Engineered Composites, a segment of Albany International, announced Thursday that it has reached an agreement with Boeing to continue manufacturing composite fuselage frames for the 787 Dreamliner. Under the agreement, Albany will continue to produce about 300 unique composite fuselage frames for the aircraft, a role it has held since Boeing's original award in 2014 for Sections 41 and 43.
Albany International Completes Strategic Review, Keeps Utah Facility
Albany International Corp. announced the completion of its strategic review of its Amelia Earhart Drive facility in Salt Lake City, Utah, deciding to retain the facility after securing new business wins, a renegotiated Boeing 787 contract, and amended terms with Sikorsky on the CH-53K helicopter program. The amended contract with Sikorsky improves program financials, reduces risk, and is expected to generate positive cash flow beginning in 2027. The company also updated its third-quarter outlook, raising adjusted EPS guidance from $0.60-$0.70 to $1.40-$1.50, while keeping revenue outlook unchanged. For the fourth quarter, it expects consolidated net revenue between $325 million and $335 million and adjusted EPS between $0.65 and $0.75. An investor call is scheduled for September 2, 2026, at 8:30 AM Eastern Time.
Albany International CFO Takes Medical Leave, Acting CFO Named
Albany International announced that Chief Financial Officer Willard Station is taking a medical leave of absence, with Sean Valashinas, the company's controller and chief accounting officer, appointed as acting CFO effective immediately. Valashinas joined Albany in 2025 after serving as vice president of accounting, treasury, and tax at Resonetics, a medical device manufacturer, and previously worked at Standex International. Shares of Albany International fell 4.82% to $55.54 following the announcement.
Albany International declared a quarterly dividend of $0.28 per share, in line with its previous payout. The dividend is payable October 7 to shareholders of record on September 1, with the ex-dividend date also September 1. Based on the current share price, the forward yield is 1.9%.
General Industrial Machinery Stocks Post Strong Q2 Results
General industrial machinery stocks reported strong second-quarter results, with the 12 companies tracked beating revenue consensus estimates by 2.6% while next quarter's revenue guidance came in 3.3% below expectations. Dover reported revenues of $2.19 billion, up 6.9% year on year, but fell short of analysts' expectations by 0.8%, and its stock is down 5.7% since reporting. Columbus McKinnon delivered the fastest revenue growth in the group, with revenues of $531.5 million, up 125% year on year, beating expectations by 5.9%, and its stock is up 21.6% since reporting. Albany had the weakest performance against analyst estimates, with revenues of $329.5 million, up 5.8% year on year, missing expectations by 3.1%. Illinois Tool Works reported revenues of $4.30 billion, up 6.1% year on year, surpassing expectations by 2.7%, while Kadant reported revenues of $312.9 million, up 22.6% year on year, topping expectations by 4.6%.
Albany International Posts Record Engineered Composites Revenue in Q2 2026
Albany International Corp reported second-quarter 2026 revenue of $329.5 million, up 5.8% year-over-year, with adjusted EBITDA rising to $57.8 million from $51.9 million. The Engineered Composites segment achieved a quarterly record of $150.8 million in revenue, a 16% increase driven by ramps in LEAP, Boeing programs, and CH-53K, while Machine Clothing revenue was $178.7 million with an adjusted EBITDA margin of 28%. Free cash flow was a net use of $14.5 million compared to a net gain of $17.8 million in the prior year, impacted by inventory build to support production ramps and seasonal shutdowns. The company ended the quarter with $77.3 million in cash and $450.7 million in total debt, resulting in net debt of approximately $373.3 million. CEO Gunnar Kleveland noted the strategic review of the Salt Lake City site is progressing with eight final candidates, and new business wins including a Pratt & Whitney GTF contract position the company for long-term growth.
StockStory Highlights Quanta as Top Industrials Pick, Flags Albany and Atmus as Risky
StockStory identifies Quanta as an industrials stock with exciting potential while naming Albany and Atmus Filtration Technologies as risky. Quanta, a construction engineering services firm with a market cap of $96.51 billion, saw its backlog grow 21.2% annually over two years and expects 19.6% revenue growth, with earnings per share up 26% annually. Albany, a textiles and materials processor valued at $2.11 billion, faces flat sales, a 5.2 percentage point drop in free cash flow margin over five years, and diminishing returns on capital. Atmus Filtration Technologies, a $4.29 billion filter manufacturer spun out of Cummins, posted 5.6% annual sales growth below the industrials average, a low gross margin of 26.3%, and stagnant free cash flow margin.
Wall Street Is Downbeat on Albany and International Paper but Sees Upside for Progressive
Wall Street analysts have issued rare downbeat forecasts for Albany and International Paper, while Progressive is seen as a stock poised to outperform. Albany faces flat sales, shrinking free cash flow margins, and declining returns on capital, with a consensus price target implying a 21.2% downside. International Paper has struggled with earnings per share falling 15.5% annually over five years despite revenue growth, and its forward P/E of 22.2 times raises concerns. In contrast, Progressive has grown net premiums earned by 16.5% annually and earnings per share by 41.6% over the last two years, supported by stellar return on equity.
AIN · Capital · Negative Analyst downbeat forecast citing flat sales, shrinking free cash flow margins, and declining returns on capital with 21.2% downside price target.
IP · Capital · Negative Analyst downbeat forecast noting earnings per share falling 15.5% annually over five years and high forward P/E of 22.2 times.
PGR · Capital · Positive Analyst sees upside with strong growth in net premiums earned (16.5% annually) and earnings per share (41.6% over two years), supported by stellar return on equity.
Albany Engineer Rabih Mansour Authors ASM Handbook Chapter on 3D Woven Composites
Albany Engineered Composites announced that Principal Engineer and Technical Fellow Rabih Mansour authored the chapter 'Three-Dimensional Woven Composites' for the ASM Handbook, Volume 21: Composites. The publication highlights Albany's proprietary 3D-woven technology, which enables the replacement of traditional metallic components with lighter, stronger composite solutions in aerospace and defense applications. Mansour's chapter examines weaving architectures, mechanical properties, manufacturing methods, and the consolidation of multiple components into integrated structures. The announcement comes ahead of the Farnborough International Airshow 2026, where Albany will showcase its technology.
AIN · Technology · Positive Albany's 3D-woven composite technology is highlighted in an authoritative handbook, showcasing its advantages for aerospace and defense, which strengthens its technological reputation.
Gabelli’s Bancroft Sees Multi-Year Missile Production Surge, Picks Honeywell, L3Harris, and Albany International
Tony Bancroft, portfolio manager at Gabelli Funds, argued on CNBC that U.S. missile and aircraft production is entering a multi-year expansion driven by arsenal replenishment and rearmament against China and Russia. He highlighted Honeywell as a large-cap pick, noting that 11 of 12 top U.S. weapons systems rely on its navigation hardware, with the upcoming aerospace spin-off as a key catalyst. Bancroft also pointed to L3Harris Technologies’ planned IPO of its Axyv missile unit, which could raise up to $2 billion, and noted that its Missile Solutions revenue rose 18% year-over-year to $990 million in the first quarter of fiscal 2026. As a small-cap play, he cited Albany International, whose composites for the F-35 and LEAP engines have helped drive a 40% year-to-date rally, though three analyst Hold ratings and a $59 target suggest caution. Bancroft believes framework agreements discussed by the Trump Administration could triple or quadruple missile production, with roughly 1,000 Patriot interceptors already expended from an inventory of about 5,000.
General industrial machinery stocks beat Q1 revenue estimates by 3.3%
The 14 general industrial machinery stocks tracked by StockStory reported a strong first quarter, with aggregate revenues beating analysts' consensus estimates by 3.3% and next-quarter revenue guidance coming in 1.6% above expectations. Honeywell posted revenues of $9.14 billion, up 2.4% year on year but missing estimates by 1.4%, and delivered the weakest full-year guidance update of the group. Albany International was the best performer, with revenues of $311.3 million beating estimates by 10.8%, while Icahn Enterprises had the weakest quarter, missing analysts' adjusted operating income and EPS estimates significantly. L.B. Foster delivered the biggest analyst estimate beat among its peers, with revenues of $121.1 million surpassing expectations by 16.2%. Share prices of the group have been resilient, up 9.9% on average since the latest earnings results.
MYR Group Surges as a Stock to Watch While Albany and Old National Bank Are Flagged as Risky
StockStory identifies MYR Group as a surging stock to target this week while labeling Albany and Old National Bank as risky. MYR Group, trading near its 52-week high at $484.75 per share, posted annual earnings per share growth of 32.6% over the last two years, outpacing revenue gains, and its free cash flow margin expanded by 4.5 percentage points over five years. Albany, priced at $72.00, saw sales stagnate and its free cash flow margin shrink by 5.2 percentage points amid rising capital intensity. Old National Bank, at $25.01 per share, recorded a net interest margin of 3.5% and annual earnings per share growth of 5.8% that lagged revenue growth over five years.
AIN · Capital · Negative Sales stagnated and free cash flow margin shrank by 5.2 percentage points, indicating deteriorating financial performance.
MYRG · Capital · Positive Annual EPS growth of 32.6% outpaced revenue gains, and free cash flow margin expanded by 4.5 percentage points over five years.
ONB · Capital · Negative Annual EPS growth of 5.8% lagged revenue growth over five years, and net interest margin is 3.5%.
United States