Albany International Corp. (NYSE: AIN) filed a Form 8-K on August 4, 2026, reporting its second-quarter 2026 operating results for the period ended June 30, 2026, along with third-quarter guidance.

Key Highlights

  • Net revenue: $329.5 million in Q2 2026, up 6% from $311.4 million in Q2 2025.
  • Net income: $17.4 million attributable to the company, or $0.61 diluted EPS, up 90% and 97% respectively from $9.2 million and $0.31 in Q2 2025.
  • Adjusted EBITDA: $57.8 million, an increase of 11.5% from $51.9 million in Q2 2025, with an Adjusted EBITDA margin of 17.6%.
  • Adjusted EPS: $0.82 per diluted share, compared to $0.57 in the prior-year quarter.
  • Capital allocation: $7.9 million paid in dividends and $11.9 million invested in capital expenditures during the quarter.
  • Balance sheet: Cash and cash equivalents of $77.3 million and total debt of $450.7 million, resulting in a net debt position of $373.3 million.
  • Q3 2026 guidance: Consolidated net revenue projected between $320 million and $330 million, with Adjusted EPS between $0.60 and $0.70.

Albany International's Q2 2026 Segment Performance and Profitability

According to the filing, Albany International's consolidated net revenues of $329.5 million in Q2 2026 were primarily driven by higher volume in the Engineered Composites segment, partially offset by what the company described as "some end-market softness in Machine Clothing along with downtime related to an equipment failure in the Machine Clothing business." Gross profit rose to $107.9 million, up 10.7% from $97.5 million in Q2 2025, attributed to cost controls in Machine Clothing and a favorable mix of aerospace and defense programs in Engineered Composites. Operating income was $32.1 million, compared to $22.3 million in the prior year, an increase of 44.3%.

The Engineered Composites segment reported net revenue growth of 14.2% after adjusting for currency translation, with the filing citing strength in the LEAP program on the commercial side and the CH-53K and missile programs on the defense side. Adjusted EBITDA margin for the segment improved to 13.3% from 8.5% in Q2 2025. Machine Clothing net revenues decreased 2.4% on a constant-currency basis, with the filing citing cyclical declines in the Americas and machine downtime in that region. Machine Clothing's adjusted EBITDA margin was 28.0%, compared to 28.9% in Q2 2025, though the filing noted that on a constant-currency basis, margins were 29.0%.

Selling, general, and administrative expenses declined to $56.1 million from $58.5 million in Q2 2025, which the filing attributed to cost containment initiatives. The effective tax rate for Q2 2026 was 32.0%, compared to 31.3% in Q2 2025. Capital expenditures were $11.9 million, down from $14.9 million in Q2 2025, and research and development expenses totaled $11.7 million, compared to $12.6 million in the prior-year quarter. For Q3 2026, the company disclosed a projected effective tax rate of 31.5% and Machine Clothing net revenue of between $165 million and $170 million, with Engineered Composites net revenue between $155 million and $160 million. The filing contains forward-looking statements, which are the company's own and subject to its cautionary language.

What Was Disclosed

Albany International filed an 8-K reporting Q2 2026 results, including revenue, earnings, segment performance, capital allocation, balance sheet figures, and Q3 2026 financial guidance. The news release was furnished as Exhibit 99.1 and signed by CFO Willard C. Station.