v3.26.1
Reportable Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Reportable Segment Data
The following tables show data by reportable segment that is regularly provided to the CODM, reconciled to consolidated totals included in the financial statements along with other segment data:

Reconciliation of Net Revenues to Operating Income(loss):
Three Months Ended June 30, 2026
(in thousands)MCAECCorporateTotal
Net revenues$178,710 $150,772 $— $329,482 
Cost of goods sold97,763 123,818 — 221,581 
Gross profit80,947 26,954 — 107,901 
Selling, general and administrative expenses33,490 11,315 11,263 56,068 
Technical and research expenses6,363 4,210 1,149 11,722 
Restructuring expenses, net6,389 — 1,584 7,973 
Operating income/(loss)$34,705 $11,429 $(13,996)$32,138 
Three Months Ended June 30, 2025
(in thousands)MCAECCorporateTotal
Net revenues$180,926 $130,473 $— $311,399 
Cost of goods sold97,167 116,725 — 213,892 
Gross profit83,759 13,748 — 97,507 
Selling, general and administrative expenses35,669 11,777 11,056 58,502 
Technical and research expenses7,373 4,125 1,054 12,552 
Restructuring expenses, net3,015 520 648 4,183 
Operating income/(loss)$37,702 $(2,674)$(12,758)$22,270 
Six Months Ended June 30, 2026
(in thousands)MCAECCorporateTotal
Net revenues$344,662 $296,153 $— $640,815 
Cost of goods sold188,653 244,467 — 433,120 
Gross profit156,009 51,686 — 207,695 
Selling, general and administrative expenses66,739 22,901 24,727 114,367 
Technical and research expenses13,548 8,758 2,373 24,679 
Restructuring expenses, net9,065 — 2,073 11,138 
Operating income/(loss)$66,657 $20,027 $(29,173)$57,511 
Six Months Ended June 30, 2025
(in thousands)MCAECCorporateTotal
Net revenues$355,623 $244,550 $— $600,173 
Cost of goods sold191,962 214,218 — 406,180 
Gross profit163,661 30,332 — 193,993 
Selling, general and administrative expenses68,550 21,903 21,861 112,314 
Technical and research expenses14,616 7,799 2,033 24,448 
Restructuring expenses, net4,362 1,688 648 6,698 
Operating income/(loss)$76,133 $(1,058)$(24,542)$50,533 
Schedule of Depreciation and Amortization Expenses:
Three months ended June 30,Six months ended June 30,
(in thousands)
2026202520262025
Depreciation and amortization
Machine Clothing$8,422 $7,973 $16,724 $15,679 
Albany Engineered Composites8,561 13,455 17,350 26,750 
Corporate35 323 73 613 
Consolidated depreciation and amortization$17,018 $21,751 $34,147 $43,042 
As a result of the Amelia Earhart Drive facility meeting the held-for-sale accounting criteria, the facility's assets and liabilities were classified as held-for-sale in the consolidated balance sheets as of December 31, 2025 and June 30, 2026. Upon classification as held for sale, the Company ceased depreciation and amortization of the related long-lived assets in accordance with applicable accounting guidance.
Reconciliation of Operating Income/(loss) to Income before income taxes:
Three months ended June 30,Six months ended June 30,
(in thousands)
2026202520262025
Consolidated Operating income/(loss)$32,138 $22,270 $57,511 $50,533 
Reconciling items:
Interest income(693)(1,405)(1,575)(3,043)
Interest expense
6,761 6,555 13,110 11,848 
Other (income)/expense, net39 3,534 (3,154)4,517 
Income before income taxes$26,031 $13,586 $49,130 $37,211 
Schedule of Operating Assets and Capital Expenditures by Reporting Segment
The following table presents assets by reportable segment:
(in thousands)
June 30, 2026December 31, 2025
Segment assets
Machine Clothing$683,630 $618,476 
Albany Engineered Composites439,591 491,802 
Reconciling items:
Cash77,349 112,350 
Income taxes prepaid and receivable, and Deferred income taxes107,510 112,436 
Prepaid expenses and other current assets, and Other assets96,563 89,862 
Assets held for sale$306,722 $293,783 
Consolidated total assets1,711,365 1,718,709 
The following table presents capital expenditures by reportable segment:
Six months ended June 30,
(in thousands)
20262025
Capital expenditures and purchased software
Machine Clothing$11,112 $13,010 
Albany Engineered Composites8,337 17,521 
Corporate1,733 — 
Total capital expenditures and purchased software$21,182 $30,531