EarningsQ2 2026 Earnings Report
MX:AAON Q2 2026 EPS Results
Actual EPS$12.69
Consensus EPS$9.43
Beat/MissBeat by +$3.26
One Year Ago EPS$4.05
MX:AAON Q2 2026 Revenue Results
Actual Revenue$11.53B
Expected Revenue$9.36B
Beat/MissBeat by +$2.17B
YoY Revenue Growth+101.23%
Earnings Announcement Details
QuarterQ2 2026
Date08/10/2026
TimeBefore Open
Conference CallMonday, August 10, 2026
MX:AAON Upcoming Earnings
Aaon's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AAON Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly positive operational and financial progress story: record revenue, double-digit EBITDA and EPS growth, exceptional BASX expansion, AAON brand share gains, improving cash flow and a rapidly ramping Memphis facility. Near-term margin pressure from mix, ramp-up overhead, outsourcing and inflationary cost timing were acknowledged as temporary headwinds, with management guiding to margin improvement in H2 (Q4 weighted) and providing an upgraded full-year sales growth outlook of 55%–60%. Given the strong revenue and profitability momentum, healthy backlog and visible actions to address cost pressures, the positives materially outweigh the temporary lowlights.Company Guidance
Record Quarterly Revenue
Q2 net sales were a record $627.0 million, up 101% year-over-year and 26% sequentially, driven by higher throughput across facilities and successful capacity investments.
Strong Profitability and EPS Growth
Non-GAAP adjusted EBITDA rose 102.3% year-over-year to $94.2 million with adjusted EBITDA margin at 15.0% (15.0% vs 14.9% prior year). Adjusted diluted EPS increased 213.6% to $0.69.
BASX (Data Center) Exceptional Growth
BASX branded sales were a record, increasing 216.2% year-over-year in Q2 (BASX segment sales +221% to $218 million). BASX gross profit rose 244.2% to $65.3 million and segment gross margin improved to 30.0% from 27.9%.
AAON Brand Market Share Gains
AAON branded sales increased 39.3% year-over-year and 5% sequentially. AAON branded bookings rose ~16% YoY for the quarter and ~45% on a 2-year stack; year-to-date bookings +12% YoY and +25% on a 2-year stack, and AAON branded backlog increased 6% sequentially.
Backlog and Pipeline Strength
Backlog remains nearly double prior year levels, providing meaningful visibility into future growth. Management emphasized a healthy and expanding pipeline for both existing and new customers, especially in data centers.
Operational Execution and Capacity Ramp
Higher throughput across four major facilities and faster backlog conversion demonstrate improving execution. Memphis facility ramped faster-than-expected and was described as performing 'exceptionally well' and ahead of plan.
Improved Cash Flow and Leverage
Cash, cash equivalents and restricted cash totaled $12.7 million at June 30, 2026. Debt was $435 million and leverage ratio improved to 1.48 (from 1.71 on March 31). Operating cash flow was positive $55 million in H1 vs a $31 million use of cash in prior year H1.
Product Platform Momentum (Alpha Class)
Alpha Class fully electric heat pump orders increased 50% in the quarter and 54% year-to-date, indicating building adoption tied to electrification and efficiency trends.
MX:AAON Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed