Albany International (NYSE:AIN) reported fourth-quarter results on Tuesday that exceeded revenue forecasts, as the company moved to streamline its portfolio by launching a strategic review of its structures assembly business.
The company posted fourth-quarter revenue of $321.2 million, a 12% increase year-over-year that significantly outpaced the analyst consensus of $295.2 million.
Net income for the quarter was $13.9 million, or $0.48 per share.
On an adjusted basis, earnings reached $0.65 per share, supported by strong performance in the Engineered Composites segment, which saw revenues jump 43% due to high demand for commercial LEAP engine components and F-35 defense programs.
The quarterly gains, however, were not enough to pull the company into the black for the full year.
Albany reported a fiscal 2025 net loss of $57.3 million, or $1.94 per share, on total revenue of $1.18 billion.
The annual deficit was primarily driven by a massive $46 million non-cash charge taken in the third quarter related to loss reserves and program adjustments for the CH-53K heavy-lift helicopter contract.
Alongside the earnings release, CEO Gunnar Kleveland announced that the company has engaged advisors to explore the sale of its structures assembly business and its production facility in Salt Lake City.
The move is intended to narrow the company’s focus toward its core 3D-woven and "out-of-autoclave" composite technologies, which currently enjoy higher margins and stronger competitive moats.
In the company’s legacy Machine Clothing segment—which provides custom fabrics for paper manufacturing—revenue remained steady at $183 million for the quarter.
While margins in this segment were slightly dampened by volume weakness in Asian markets, ongoing "footprint optimization" initiatives helped mitigate the impact of rising personnel and global information system costs.