Albany International is reviewing strategic alternatives for its structures‑assembly business within the Albany Engineered Composites segment, considering the sale of all or part of the Amelia Earhart Drive facility in Salt Lake City to focus on higher‑margin advanced‑technology components.
The company has set a $147 million loss reserve to be recognized in the third quarter of 2025, reflecting higher labor costs, inflation‑driven material inputs, and revised contract estimates for the CH‑53K helicopter program. The reserve covers the full loss expected over the remaining eight‑year life of the contract.
The Amelia Earhart Drive site generated about $130 million in revenue for the trailing twelve months ending September 30, 2025, after estimate‑at‑completion charges. It produces advanced composite parts for the CH‑53K and other commercial and defense programs. Albany is in ongoing discussions with Sikorsky Aircraft, the customer for the CH‑53K program, to explore contract modifications that could offset cost increases.
Albany’s CEO Gunnar Kleveland said, “Without changes to the contract there is no path to profitability on the program as originally bid.” The company will report its third‑quarter 2025 earnings on November 5, 2025, followed by a conference call on November 6. The AEC segment, excluding the structures‑assembly program, continues to deliver 100 % on‑time performance in other key programs and has secured new contract wins.
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