(RTTNews) - Albany International Corporation (AIN), a textiles and materials processing company, said on Tuesday that it expects a decline in first-quarter results.
For the first quarter of 2026, the company expects adjusted profit of $0.50 to $0.60 per share, with revenue of $275 million to $285 million.
For the first quarter of fiscal 2025, Albany had posted an adjusted income of $0.73 per share, with revenue of $289 million.
Gunnar Kleveland, CEO of Albany International, said: "We are underway with the previously announced strategic review of our structures assembly business and its associated production site in Salt Lake City, and have engaged an advisor to help guide this transaction. This action will position the remaining Aerospace portfolio to align more closely with our strategic priorities and to pursue growth opportunities."
AIN was up by 1.66% at $59 in the pre-market trade on the New York Stock Exchange.
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