Madison Air (MAIR) Q2 FY26 earnings call

Earnings call· Jun 2026 (Q2 FY26)· Industrials· Jul 30, 2026

Source: earnings call transcript

Madison Air delivered strong Q2 FY26 results, driven by robust commercial orders and a record $2.9 billion backlog, providing significant revenue visibility. While adjusted EBITDA margins saw a slight year-over-year contraction due to data center mix and tariff timing, management outlined a clear roadmap for sequential improvement in the second half. The company continues to prioritize organic growth, deleveraging, and strategic M&A, with a focus on high-return opportunities and expanding its aftermarket presence.

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MAIR operating KPIs by quarter

MAIR operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q1 FY26	This call Jun 2026 Q2 FY26	Change vs prior quarter
Employees	8,800+ As of March 31, 2026, we had over 8,800 employees with about 600 of those focused on R&D to drive innovation. Source: earnings call transcript	9,000+ As of June 30, we have over 9,000 employees with 600 of them focused on R&D to drive innovation. Source: earnings call transcript	—
Employees R&D	~600 As of March 31, 2026, we had over 8,800 employees with about 600 of those focused on R&D to drive innovation. Source: earnings call transcript	600 As of June 30, we have over 9,000 employees with 600 of them focused on R&D to drive innovation. Source: earnings call transcript	—
Book-to-bill ratio	1.4 ratio Combined company orders grew 29%, including AprilAire orders prior to the AprilAire acquisition and reached a 1.4x book-to-bill ratio in the first quarter. Source: earnings call transcript	1.3 ratio With strong order activity and a second quarter book-to-bill ratio of 1.3x, we exited the quarter with a record backlog of $2.9 billion, up 133% year-over-year on a combined company basis. Source: earnings call transcript	-7.1%
Backlog	$2.5B We exited the first quarter with record backlog of $2.5 billion, up 116% year-over-year on a combined company basis, providing good visibility into near-term revenue. Source: earnings call transcript	$2.9B With strong order activity and a second quarter book-to-bill ratio of 1.3x, we exited the quarter with a record backlog of $2.9 billion, up 133% year-over-year on a combined company basis. Source: earnings call transcript	+16%

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.