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Reportable Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | 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, 2025
(in thousands) |  | MC |  | AEC |  | Corporate |  | Total
Net revenues |  | $ | 180,926 |  |  | $ | 130,473 |  |  | $ | — |  |  | $ | 311,399 |
Cost of goods sold |  | $ | 97,167 |  |  | $ | 116,725 |  |  | $ | — |  |  | $ | 213,892 |
Gross profit |  | $ | 83,759 |  |  | $ | 13,748 |  |  | $ | — |  |  | $ | 97,507 |
Selling, general and administrative expenses |  | $ | 35,669 |  |  | $ | 11,777 |  |  | $ | 11,056 |  |  | $ | 58,502 |
Technical and research expenses |  | $ | 7,373 |  |  | $ | 4,125 |  |  | $ | 1,054 |  |  | $ | 12,552 |
Restructuring expenses, net |  | $ | 3,015 |  |  | $ | 520 |  |  | $ | 648 |  |  | $ | 4,183 |
Operating income/(loss) |  | $ | 37,702 |  |  | $ | (2,674) |  |  | $ | (12,758) |  |  | $ | 22,270 |
|  | Three Months Ended June 30, 2024
(in thousands) |  | MC |  | AEC |  | Corporate |  | Total
Net revenues |  | $ | 193,578 |  |  | $ | 138,416 |  |  | $ | — |  |  | $ | 331,994 |
Cost of goods sold |  | $ | 104,705 |  |  | $ | 114,906 |  |  | $ | — |  |  | $ | 219,611 |
Gross profit |  | $ | 88,873 |  |  | $ | 23,510 |  |  | $ | — |  |  | $ | 112,383 |
Selling, general and administrative expenses |  | $ | 30,569 |  |  | $ | 12,786 |  |  | $ | 12,160 |  |  | $ | 55,515 |
Technical and research expenses |  | $ | 7,504 |  |  | $ | 4,356 |  |  | $ | — |  |  | $ | 11,860 |
Restructuring expenses, net |  | $ | 1,066 |  |  | $ | 922 |  |  | $ | 115 |  |  | $ | 2,103 |
Operating income/(loss) |  | $ | 49,734 |  |  | $ | 5,446 |  |  | $ | (12,275) |  |  | $ | 42,905 |
|  | Six Months Ended June 30, 2025
(in thousands) |  | MC |  | AEC |  | Corporate |  | Total
Net revenues |  | $ | 355,623 |  |  | $ | 244,550 |  |  | $ | — |  |  | $ | 600,173 |
Cost of goods sold |  | $ | 191,962 |  |  | $ | 214,218 |  |  | $ | — |  |  | $ | 406,180 |
Gross profit |  | $ | 163,661 |  |  | $ | 30,332 |  |  | $ | — |  |  | $ | 193,993 |
Selling, general and administrative expenses |  | $ | 68,550 |  |  | $ | 21,903 |  |  | $ | 21,861 |  |  | $ | 112,314 |
Technical and research expenses |  | $ | 14,616 |  |  | $ | 7,799 |  |  | $ | 2,033 |  |  | $ | 24,448 |
Restructuring expenses, net |  | $ | 4,362 |  |  | $ | 1,688 |  |  | $ | 648 |  |  | $ | 6,698 |
Operating income/(loss) |  | $ | 76,133 |  |  | $ | (1,058) |  |  | $ | (24,542) |  |  | $ | 50,533 |
|  | Six Months Ended June 30, 2024
(in thousands) |  | MC |  | AEC |  | Corporate |  | Total
Net revenues |  | $ | 378,795 |  |  | $ | 266,529 |  |  | $ | — |  |  | $ | 645,324 |
Cost of goods sold |  | $ | 205,267 |  |  | $ | 218,988 |  |  | $ | — |  |  | $ | 424,255 |
Gross profit |  | $ | 173,528 |  |  | $ | 47,541 |  |  | $ | — |  |  | $ | 221,069 |
Selling, general and administrative expenses |  | $ | 63,336 |  |  | $ | 24,326 |  |  | $ | 22,688 |  |  | $ | 110,350 |
Technical and research expenses |  | $ | 15,024 |  |  | $ | 9,501 |  |  | $ | — |  |  | $ | 24,525 |
Restructuring expenses, net |  | $ | 1,087 |  |  | $ | 3,110 |  |  | $ | 115 |  |  | $ | 4,312 |
Operating income/(loss) |  | $ | 94,081 |  |  | $ | 10,604 |  |  | $ | (22,803) |  |  | $ | 81,882 |
Schedule of Depreciation and Amortization Expenses:
| Three months ended June 30, | Six months ended June 30,
(in thousands) | 2025 | 2024 | 2025 | 2024
Depreciation and amortization |  |  |  |
Machine Clothing | $ | 7,973 |  | $ | 8,498 |  | $ | 15,679 |  | $ | 17,009 |
Albany Engineered Composites | 13,455 |  | 13,601 |  | 26,750 |  | 27,104 |
Corporate | 323 |  | 290 |  | 613 |  | 580 |
Consolidated depreciation and amortization | $ | 21,751 |  | $ | 22,389 |  | $ | 43,042 |  | $ | 44,693 |
Reconciliation of Operating Income to Income before income taxes:
| Three months ended June 30, | Six months ended June 30,
(in thousands) | 2025 | 2024 | 2025 | 2024
Operating income |  |  |  |
Machine Clothing | $ | 37,702 |  | $ | 49,734 |  | $ | 76,133 |  | $ | 94,081 |
Albany Engineered Composites | (2,674) |  | 5,446 |  | (1,058) |  | 10,604 |
Corporate | (12,758) |  | (12,275) |  | (24,542) |  | (22,803) |
Consolidated Operating income | $ | 22,270 |  | $ | 42,905 |  | $ | 50,533 |  | $ | 81,882 |
Reconciling items: |  |  |  |
Interest income | (1,405) |  | (959) |  | (3,043) |  | (2,082) |
Interest expense | 6,555 |  | 3,909 |  | 11,848 |  | 8,351 |
Other (income)/expense, net | 3,534 |  | 5,657 |  | 4,517 |  | 2,675 |
Income before income taxes | $ | 13,586 |  | $ | 34,298 |  | $ | 37,211 |  | $ | 72,938 |
Schedule of Operating Assets and Capital Expenditures by Reporting Segment | The following table presents assets by reportable segment:
(in thousands) | June 30, 2025 | December 31, 2024
Segment assets |  |
Machine Clothing | $ | 641,199 |  | $ | 600,603 |
Albany Engineered Composites | $ | 769,069 |  | $ | 736,306 |
Reconciling items: |  |
Cash | $ | 106,689 |  | $ | 115,283 |
Income taxes prepaid and receivable, and Deferred income taxes | 53,981 |  | 47,944 |
Prepaid expenses and other current assets, and Other assets | 152,515 |  | 148,560 |
Consolidated total assets | $ | 1,723,453 |  | $ | 1,648,696 |
The following table presents capital expenditures by reportable segment:
| Six months ended June 30,
(in thousands) | 2025 | 2024
Capital expenditures and purchased software |  |
Machine Clothing | $ | 13,010 |  | $ | 12,092 |
Albany Engineered Composites | 17,521 |  | 34,564 |
Total capital expenditures and purchased software | $ | 30,531 |  | $ | 46,656 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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