Earnings Releases·Nov 9, 2026, 4:09 PM ET

The Aaon Group — Third Quarter 2026 Earnings Summary

Net sales surged 84.1% year-over-year to a record $707.4 million, driven by a 218.3% increase in BASX-branded sales and a 174.2% rise in Coil Products, while operating income jumped 129.3% to $100.0 million and GAAP diluted EPS rose 124.3% to $0.83.
The company raised its full-year 2026 net sales guidance to 72%-75% (previously 55%-60%) and adjusted gross margin guidance to approximately 26%, citing strong order strength and a healthy data center pipeline expected to continue into 2027.
Total backlog increased 40.5% year-over-year to $1.9 billion, though it decreased 5.9% sequentially due to accelerated revenue conversion and project timing, while year-to-date operating cash flow improved significantly to $146.9 million from a prior-year use of $18.8 million.
Management announced a material weakness in internal controls over financial reporting, resulting in restatements that increased first-half net sales by $10.7 million and diluted EPS by $0.09, though they confirmed no evidence of fraud and are actively remediating the issue.