Albany International Reports 5.8% Revenue Growth to $329.5 Million in Q2 2026

Albany International Corp. reported a notable increase in financial performance for the second quarter of 2026, with net revenues reaching $329.5 million, a 5.8% rise from $311.4 million in the same period last year. For the first half of 2026, revenues totaled $640.8 million, up 6.8% from $600.2 million in the first half of 2025. The company's gross profit also improved, rising to $107.9 million for the quarter, compared to $97.5 million a year earlier, while the gross profit margin increased slightly to 32.7% from 31.3%. Net income attributable to the company was $17.4 million, or $0.61 per share, compared to $9.2 million, or $0.31 per share, in the prior year.

The company experienced significant changes in its operational landscape, particularly within its Albany Engineered Composites (AEC) segment, which saw revenues increase by 15.6% in the second quarter, driven by higher activity levels on various aerospace programs. In contrast, the Machine Clothing (MC) segment faced challenges, with revenues declining by 1.2% due to reduced demand in the Americas region. The overall increase in revenues was also supported by favorable currency translation rates, which contributed an additional $4 million to the comparative segment net revenues.

Strategically, Albany International completed the acquisition of Heimbach, a manufacturer of paper machine clothing, in August 2023, which is expected to enhance its product offerings and market reach. The company is also undergoing a strategic review of its Amelia Earhart Drive facility, which has been classified as held for sale, with the review expected to conclude by the end of 2026. This facility's assets and liabilities were reclassified accordingly, ceasing depreciation and amortization in line with accounting guidance.

Operationally, Albany International reported a decrease in cash provided by operating activities, which fell to $3.0 million for the first half of 2026, down from $34.8 million in the same period last year. This decline was attributed to lower cash generated from working capital, particularly due to inventory growth. The company’s total assets stood at $1.71 billion as of June 30, 2026, with total liabilities of $959.3 million, reflecting a solid balance sheet position. The company maintained a leverage ratio of 1.71 to 1.00, well within the limits set by its credit agreements.

Looking ahead, Albany International anticipates continued growth in its AEC segment, driven by ongoing investments in technology and production capacity. However, the company also acknowledges potential challenges, including inflationary pressures, supply chain disruptions, and fluctuating demand in its MC segment. The management remains focused on leveraging its technological capabilities and optimizing operational efficiencies to navigate these challenges and sustain profitability.