Hello, everyone. Thank you for joining us, and welcome to the Albany International Investor Call to discuss the successful completion of its strategic review. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Karen Blomquist, Director of Investor Relations. Karen, please go ahead. Good morning, and thank you for joining us today. As a reminder for those listening on the call, please refer to our press release issued yesterday detailing the conclusion of our strategic review, along with our updated guidance. Contained in the text of the release is a notice regarding our forward-looking statements. Today, we will make statements that are forward-looking and contain a number of risks and uncertainties which could cause actual results to differ from those expressed or implied. For a full discussion of these risks and uncertainties, please refer to yesterday's press release, as well as our SEC filings, including our 10-Q and our 10-K. Now, I will turn the call over to Gunnar Kleveland, our President and CEO. Gunnar? Thank you, Karen. Good morning, and welcome everyone. From the outset of this strategic review, our objective has been clear: to evaluate options through a balanced lens of maximizing long-term shareholder value and strategic positioning. That has meant applying financial discipline, aligning execution and strategy, and ensuring that any outcomes strengthen the business while delivering the best value for our shareholders. At the end of October 2025, we announced that we were exploring strategic alternatives for our structures assembly business, including a potential sale of all or part of the business at the Amelia Earhart facility in Salt Lake City, Utah. We undertook that process with a disciplined view of the portfolio, capital allocation, and the long-term value creation potential of the site. At that time, we also communicated that we're engaged with discussions with Sikorsky on CH-53K regarding potential contract modifications to address increased material and labor cost. Over the past 10 months, our dedicated team has worked tirelessly to meet our customers' expectations, executing at a high level, which enabled ongoing discussions with our customers. After completing the review, we believe the amended agreement represents the best outcome for Albany and its shareholders. It enables us to retain the Salt Lake City facility, continue participating in the CH-53K program under an amended contract that reduces the program risk while ensuring that we continue to support our largest customer. We also maintain a facility that has strong growth and profitable contracts with current and new customers, as well as capacity to continue to support the increased demand we're seeing in both aerospace and defense. This decision provides several important benefits. The new CH-53K contract results in stabilized aircraft production while offsetting projected losses, thus improving the overall profitability of the site and keeping business in place with our largest customer, with whom we continue to add new programs, like the recently announced teaming agreement on hypersonic development. The amended contract is accelerating cash into 2026, and the contract is expected to deliver positive cash flow beginning in 2027. The amended contract also further reduces risk on the program by shortening the production horizon commitment and total aircraft deliveries, and limits risk related to material cost inflation. Overall, for the Amelia Earhart Drive operations, the amended contract, combined with a contract extension for the composite fuselage frames on the Boeing 787 Dreamliner, two new recently secured defense contracts with a strategic customer, BETA ALIA aircraft advanced composite parts, and F-35 advanced composite parts, establish a business with a healthy and sustainable financial profile. These programs beyond CH-53K fit squarely within our areas of expertise in advanced composite manufacturing. Lastly, it solidifies the value in retaining a well-capitalized facility that continues to attract new business opportunities. It's important to note that the Amelia Earhart Drive facility delivers on a number of profitable ramping programs beyond the CH-53K program, and we're pleased to continue work achieving great outcomes for all of our customers at the facility. We're extremely pleased with this outcome and grateful for the efforts of our employees, whose dedication and performance have been integral in achieving this positive outcome. In addition, we would like to thank Guggenheim Securities, who served as exclusive financial advisor to Albany in connection with the strategic review, and Sikorsky for their continued support and collaboration throughout the process. In short, this outcome reflects the same disciplined objective that guide the review from the beginning, aligning our strategy, execution, and capital allocation with a goal of creating long-term shareholder value. It allows us to build on the momentum in our Engineered Composites business, retain important strategic capabilities at Salt Lake City facility, and to continue delivering value for our customers and stakeholders on the CH-53K program. As announced on Monday, Will is currently on medical leave. I know he would want to be here today. Our thoughts are with Will and his family during this time. I will now turn the call over to Sean Valashinas, our acting CFO in Will's absence, to talk about the outlook for the remainder of 2026. Sean has served as the company's primary accounting officer since June of 2025 and is well-positioned to support continuity of operations during this time. Sean? Thank you, Gunnar, and good morning. As Gunnar said, we are pleased with the results of this process. Following our comprehensive review of all available alternatives, the amended agreement provides an attractive path forward by improving program profitability, enabling the continuation of the site's other strong existing programs, and ensuring capacity for additional business in the future. As a result, we are retaining a strategically important facility with strong customer relationships, improved economics, and a growing pipeline of opportunities. Now, turning to an update on our guidance following these developments. During the third quarter, we expect revenue in our Machine Clothing segment to be between $165 million and $170 million, and we continue to expect revenue in our Engineered Composites segment for the third quarter to be between $155 million and $160 million. On a consolidated basis, we continue to expect total company revenue of approximately $320 million - $330 million for the quarter. In addition, we have increased our adjusted earnings per share forecast to be between $1.40 and $1.50, from the previously announced $0.60 - $0.70. The increase to our forecast is based on the reversal of the reach-forward loss and the associated changes to depreciation and amortization that are a result of the amendment that we announced today. We expect the third quarter effective tax rate to remain at 31.5%. Turning to fourth quarter guidance, we expect revenue in our Machine Clothing segment to be between $170 million and $175 million. In our Engineered Composites segment, we expect revenue to be between $155 million and $160 million. On a consolidated basis, total company revenue is expected to be approximately $325 million - $335 million for the fourth quarter. We expect adjusted earnings per share to be between $0.65 and $0.75 for the fourth quarter, with an effective tax rate remaining at 31.5%. In conclusion, we are happy to have concluded the strategic review in a way that allowed us to reduce program risk and generate positive cash flow on the program beginning in 2027, while continuing to perform for our largest customer, while maintaining a well-capitalized site and the associated revenue. We remain focused on executing against our operating priorities, delivering for our customers, and creating long-term value for our shareholders. With that, we will be happy to take your questions. Operator? We will now begin the question-and-answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from the line of Chigusa Katoku with JP Morgan. Your line is open. Please go ahead. Hi. Good morning. Thanks for the call, and thanks for taking my question. Firstly, I was wondering if you could provide a little bit more color on how you renegotiated the terms of the CH-53K contract with the customer. I think you mentioned length of the contract, number of deliveries, and cost inflation clauses, but how did those change? How should we think about the $147 million in loss reserve that you have? If there are any cost overruns in the future, would that be fully covered by the customer? Thanks. Good morning, Chigusa. I will take the first part of the question, then let Sean make some notes on the second. This has been a 10-month negotiation with Sikorsky on this program. We had expectations for the program, and they had expectations for the program. In the end, we came to an agreement to shorten the contract, so it is no longer a life-of-program contract. We agreed on different economics on the program, which increased the price per ship set. We also came to an agreement on reducing risk on inflation. Frankly, throughout this whole process, the performance of our team in Salt Lake City kept improving. We had other programs that we renegotiated. As you are aware, last year we negotiated our way out of a Gulfstream contract. That was a loss contract. We renegotiated with Boeing the extension of the one-piece frame, which has better economics. All these things coming together, we came to an agreement with Sikorsky to amend the contract to where we had positive cash flow going forward. The site is healthy and has good economics, and it makes sense for us to keep it. On the reach-forward loss, you- Yeah, on the reach-forward loss, Chigusa. The $147 million, if we go back almost a year ago now, had a few components. The first being a charge that was not a reach-forward loss, but was an anticipated margin adjustment on the charges. From there, though, the reserve that was built had three components. The first was reserves or charges that we would have absorbed over the last year between the time of announcement and today. The second is reserves around costs that we will incur between now and the time where the amendment kicks in later in 2027. The third is our reserves around times past that, after the amendment. The piece around adjustments around the post amendment, that we will reverse during the quarter. Again, but we are projecting or reserving for losses that we anticipate will occur up to the time of the amendment. Okay, thanks for the color. Maybe as a follow-up, any way you can help us on how to think about the growth rate and the margin profile of the amended CH-53K contract, and then also how should we think about the growth rate and margin profile of the AEC segment as a whole? Thank you. Yeah. Chigusa, if we talk about for 2027, we are still a little early to start talking about forecasts for the segment in total. We are just doing our 2027 annual plan process now. As we get into more the third quarter and more the fourth quarter, we will have a better sense for a forecast for going forward. That said, look, the program and the site itself really have a good, strong growth potential. There are a few reasons for that. First is obviously the contract amendments that we announced today. The second is that, when you think about this program, the contract itself is really just Sorry about that, Chigusa. The second is around just the contract itself is, we just have improved pricing on that. We will see better growth as we move into 2027, more into the back half of that year on that. I will add, we are not going to share what our profitability on the program is. It does have positive cash flow, and it is a good contract going forward through the end of Lot 13. If you look at the segment as it stands as a whole, what we expect is to see double-digit growth over the next several years, and our goal remains to be in the mid to upper teens EBITDA. That is an overall goal for that part of the segment. We have said that we are going to be in the mid to high teens before. The difference with retaining the site is that we now have a very large site and a large portion of the company retained to support that return. In dollars, it is obviously quite a bit higher. Okay, understood. That's helpful. Thank you so much. Your next question comes from the line of Jan Engelbrecht with Baird. Your line is open, Jan. Please go ahead. Hi, Gunnar and Sean. Congrats on the completion of the review. It's really good news. Thanks. In the release, you guys said, you talked about improved site profitability. If you look at the third and fourth quarter guidance, it doesn't look like there's a sort of upside to where you were guiding before or where The Street was. If you look at consistent with sort of the cash flow statement you guys made, we should realistically expect to sort of, the first half of 2027 to start seeing the improved profitability of this site with the new business wins, or how are you thinking about that? I know you're not talking in detail about 2027, but if you could just help us on when you start to expect to see these improvements to profitability. You're absolutely right. We should see the profitability increase on the site quarter -to -quarter to begin with, primarily on the new business win and the renegotiated contracts. Then as we get into mid to latter half of next year, the CH-53 program will start supporting the increased profitability of the site. I expect the site to be a good, healthy margin with 2028 being the first full year of that type of margin. It's going to build over time, and you won't see it this year. You'll see it begin incrementally through the next year. As we forecast next year, we'll highlight that. Perfect. Thanks, Gunnar. If I may, just a couple of accounting questions for either of you. Just on the held for use now, since it will be changed from held for sale previously. The catch-up for the depreciation and amortization that you basically paused on that site, I assume that's contemplated in the third quarter already, the catch-up in the D&A? It- Then just previous. Sure. Go for it, Sean. I'm sorry. I'm sorry I cut you off there. We'll handle the first one, and then we'll go to the second one. Yes, definitely the depreciation and amortization, it's about $12 million. That will be cumulatively picked up in the third quarter, and that number is reflected in the outlook that we provided today. Okay, perfect. Just a quick one, if I may. On the reach-forward loss, I think if you look at the $98 million loss reserve, that qualifies for the reversal because the cumulative catch-up is obviously in the past, so you cannot reverse that. It implies that for this quarter, $33 million or so was reversed pre-tax. Just how should we think about the remaining amount in the loss reserve over the next couple of quarters? Yeah. A couple of things to think through. I can think about how you got to the 33, but I think you have to add back the D&A component of that. Call it maybe about 45, it is about in the mid-40s as we think about that. A couple of things to bridge that. One is the reserves that we had to absorb over the last 10 months to a year, let us call it. Second is the reserves that we will have to absorb until the amendment to the contract really kicks in into the back half of 2027. Both of those things help you bridge that gap into the mid-40s. The other thing is then just as we think about coming down the learning curve on the CH-53K program, we will still have to absorb some of that as we move through the process. Okay, great. Thanks, Gunnar. Thanks, Sean. Congrats again. Appreciate it. Thank you. Thank you. There are no further questions at this time. I will now turn the call back to Gunnar Kleveland for closing remarks. All right. Thank you. Thank you everyone for joining us on the call today. We appreciate your continued support. I look forward to updating you on the progress in the future. Thank you, and have a good day. This concludes today's call. Thank you for attending. You may now disconnect.