Albany International Retains Salt Lake Site After CH-53K Deal, Raises Q3 EPS Outlook

September 3, 2026 - 13:00

Albany International has decided to keep its Amelia Earhart Drive structures assembly plant in Salt Lake City open, reversing an earlier plan to sell the site. The company made the announcement after wrapping up a strategic review of its operations, which had been underway for some time.

The turnaround comes after the firm reached an amended agreement with Sikorsky, the prime contractor on the CH-53K heavy-lift helicopter program. Albany International had previously been exploring options to offload the facility, but the new terms with Sikorsky changed the calculus. As a result, the company will retain the plant and continue its work on the military rotorcraft program.

Alongside the news, Albany International raised its earnings outlook for the third quarter. Management now expects adjusted profit to come in higher than earlier guidance, citing improved operational efficiency and a more stable production schedule at the Salt Lake site. The company did not provide a specific dollar figure in the release but said the revised forecast reflects better visibility on deliveries and cost performance.

The CH-53K program has been a major revenue driver for Albany's engineered structures segment, though it has also caused headaches in recent quarters due to supply chain snags and production delays. The amended agreement with Sikorsky appears to address some of those issues, giving both sides a clearer path forward.

Shares of Albany International moved higher in premarket trading following the announcement. The company said it will provide further details when it reports full third-quarter results later this fall. For now, the decision to keep the Salt Lake facility removes a layer of uncertainty that had been hanging over the stock since the review was first disclosed.