Under the terms of the renewed contract, Albany Engineered Composites will continue supplying approximately 300 unique composite frames. This production scope covers forward sections 41 and 43, as well as aft section 47. The company has maintained its involvement with these specific sections since Boeing issued the original contract in 2014.

The market reacted sharply to the news, pushing the stock up 23% for the year to date. Analysts at Baird responded to the announcement by lifting their price target for Albany International from $64 to $75 per share, though they maintained a neutral rating on the stock.