Albany International Corp. (NYSE:AIN) today reported operating results for its second quarter of 2026, which ended June 30, 2026.
The Company’s net revenues were $329.5 million in the second quarter of 2026, compared to $311.4 million in the prior year. The increase was primarily driven by higher volume in the Engineered Composites business, offset by some end-market softness in Machine Clothing along with downtime related to an equipment failure in the Machine Clothing business.
Gross profit of $107.9 million in the second quarter of 2026 was 10.7% higher than $97.5 million reported for the same period of 2025, as a result of cost controls in Machine Clothing and a favorable mix of aerospace and defense programs in the Engineered Composites business.
Selling, general, and administrative expenses were $56.1 million in the second quarter of 2026, compared to $58.5 million in the same period of 2025, driven primarily by cost containment initiatives.
Operating income was $32.1 million, compared to $22.3 million in the prior year, an increase of 44.3%, primarily driven by stronger gross profit and cost containment initiatives.
CEO Gunnar Kleveland said, “Our second-quarter performance delivered the strongest Adjusted EBITDA we have achieved in the past two years and grew 11.5% year-over-year, despite modestly lower-than-expected revenue due to several discrete factors.”
AIN shares collapsed $11.27, or 15%, to $63.85.
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