Forgent Power Solutions (FPS) Q3 FY26 earnings call

Earnings call· Mar 2026 (Q3 FY26)· Industrials· May 14, 2026

Source: earnings call transcript

Forgent Power Solutions delivered a strong Q3 FY26, marked by accelerating demand in data center and grid markets, leading to record bookings and backlog. The company raised its full-year guidance, demonstrating confidence in its ability to gain market share through customized solutions and efficient execution, while also signaling a transition towards cash generation as capacity expansion nears completion.

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FPS operating KPIs by quarter

FPS operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2025 Q2 FY26	This call Mar 2026 Q3 FY26	Jun 2026 Q4 FY26	Change vs prior quarter
Backlog	$1.5B Over the last 12 months, we've generated $1 billion of revenue, $212 million of adjusted EBITDA, which is a 21% margin, and we had a $1.5 billion backlog at the end of December 31, 2025. Source: earnings call transcript	<$2B As of March 31, 2026, backlog was at a record of nearly $2 billion, up 157% year-over-year and 33% sequentially. Source: earnings call transcript	$3B Backlog increased to $3 billion at year-end, an all-time high, up 256% year-over-year and 53% sequentially. Source: earnings call transcript	—
Orders	$762M In the second quarter, we booked $762 million of orders. Source: earnings call transcript	$867M In the third quarter, we delivered record bookings of $867 million, up 308% year-over-year and 14% sequentially, building on what was an already record level of bookings in the second quarter. Source: earnings call transcript	$1.5B Fourth quarter bookings reached $1.5 billion, a new company record, increasing 375% year-over-year and 73% sequentially. Source: earnings call transcript	+73%
Book-to-bill ratio	2.6 ratio Our book-to-bill ratio in the second quarter was 2.6x, reflecting the pace of the demand acceleration that we are seeing. Source: earnings call transcript	2.3 ratio Our book-to-bill ratio was 2.3x in the quarter despite delivering record revenue. Source: earnings call transcript	3.3 ratio Our book-to-bill ratio reached a new record of 3.3x also on a much larger revenue base. Source: earnings call transcript	+43.5%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.