AAON delivered record-breaking results for the second quarter 2026, with net sales increasing 101.2% and diluted EPS rising 257.9%. Growth was primarily driven by massive demand in the BASX data center segment and significantly improved manufacturing throughput, which allowed the company to accelerate the conversion of its massive backlog. While gross margins faced near-term pressure from capacity ramp-up costs, management raised the full-year sales guidance significantly while slightly trimming margin expectations.
Key Highlights
- Net sales reached a record $627.0 million, representing a 23.2% beat against analyst expectations of $508.8 million.
- BASX-branded sales surged 216.2% to $345.0 million, fueled by intensive investment in data center thermal management infrastructure.
- Total backlog stood at $1.97 billion, up 98.0% year-over-year, despite the company achieving record production levels during the quarter.
- Full-year 2026 revenue growth guidance was raised to a range of 55%-60%, up from the previous outlook of 40%-45%.
- Selling, General and Administrative expenses as a percent of sales improved by 570 basis points to 13.3% due to strong operating leverage.