Update: Albany International to Retain Salt Lake City Facility After Completing Strategic Review; Shares Rise

03:04 PM EDT, 09/02/2026 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.) Albany International (AIN) shares rose more than 9.5% in Wednesday trading, a day after the company said it will retain its Amelia Earhart Drive facility in Salt Lake City, Utah, and continue operations under amended terms after completing a strategic review of the site. The company said it renegotiated a Boeing (BA) 787 contract for one-piece composite fuselage frames and entered new contract terms with Lockheed Martin's (LMT) Sikorsky on the CH-53K helicopter program. For Q3, Albany raised its adjusted earnings outlook to $1.40 to $1.50 per share from a prior range of $0.60 to $0.70, and kept its consolidated net revenue outlook at $320 million to $330 million. Three analysts polled by FactSet expect $0.68 and $325.8 million, respectively. For Q4, Albany guided adjusted EPS of $0.65 to $0.75 on net revenue of $325 million to $335 million. Three analysts expect $0.72 and $328.7 million, respectively. Price: 59.18, Change: +4.85, Percent Change: +8.93