Albany International retains Salt Lake City facility, raises Q3 adjusted EPS outlook
Albany International said it completed its strategic review of the Amelia Earhart Drive facility in Salt Lake City and will keep the site, following an amended CH-53K contract with Sikorsky and new business wins. The company also reversed part of a forward loss reserve from the third quarter of 2025 and raised its third-quarter 2026 adjusted EPS outlook to $1.40 to $1.50, while its net revenue outlook was unchanged.
- The company will retain the Amelia Earhart Drive facility and end the strategic review; Guggenheim Securities served as its financial advisor.
- It reversed a portion of the forward loss reserve recognized in Q3 2025 on the CH-53K contract, and the contract modification is expected to generate positive cash flow beginning in 2027.
- Q3 2026 adjusted EPS outlook rose from $0.60 to $0.70 to $1.40 to $1.50; Q3 consolidated net revenue outlook remains $320 million to $330 million.
- Q4 2026 outlook calls for consolidated net revenue of $325 million to $335 million and adjusted EPS of $0.65 to $0.75; investor webcast on September 2, 2026 at 8:30 a.m. ET.