Jun 2026 (Q2 FY26) — Aug 10, 2026
AAON Q2 FY26 — Record Revenue & Strong Backlog Conversion Driven by Data Center Demand
Read the full callAAON (AAON) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
AAON earnings: last reported Mon, 10 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 627 | +101.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.0 | +3.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 56.7 | +265.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
9 of 16 judged targets kept · 21 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| ERP implementation (Redmond) | transition | Sep 2025 | Ghosted | |
| Sales growth | double-digit year-over-year | Jun 2025 | We now expect sales growth of 55% to 60% | Revised Up |
| AAON branded sales growth | approximately 20% | Jun 2026 | the 2026 guide is assuming approximately 20% growth year-over-year in the AAON brand. | New |
7 of AAON, INC.'s 37 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 34 more targets are in the full ledger.
Claimed
- Record quarterly revenue of $627 million, up 101% year-over-year.
- BASX branded sales increased 216% year-over-year, reflecting sustained data center demand.
- Adjusted diluted EPS grew 213.6% to $0.69.
- Operating cash flow was positive $55 million in H1 2026, a significant improvement from a $31 million use of cash in H1 2025.
- AAON branded bookings increased approximately 16% year-over-year, leading to a 6% sequential increase in AAON branded backlog.
Qualified
- Consolidated gross margin declined to 24.3% from 26.6% year-over-year, impacted by ramp-up costs at new facilities and mix shift.
- BASX branded bookings were below unusually elevated levels of recent quarters, though pipeline remains strong.
- AAON Coil Products gross margin declined to 16.0% from 17.5% year-over-year due to inflationary pressures and freight costs.
Price
$75.34 +2.18% · +$1.61
Performance −22.5% 1Y
1Y: $97.24 on 17 Oct 2025 → $75.34. High $148.25 (3 Jun 2026), low $73.49 (17 Dec 2025).
- Previous close
- $73.73
- 52-week range
- $73.49 – $148.25
- One year
- −25.38%
Overview
- Symbol
- AAON
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
9 of 16 judged targets kept · 21 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| ERP implementation (Redmond) | transition | Sep 2025 | Ghosted | |
| Sales growth | double-digit year-over-year | Jun 2025 | We now expect sales growth of 55% to 60% | Revised Up |
| AAON branded sales growth | approximately 20% | Jun 2026 | the 2026 guide is assuming approximately 20% growth year-over-year in the AAON brand. | New |
Claimed
- Record quarterly revenue of $627 million, up 101% year-over-year.
- BASX branded sales increased 216% year-over-year, reflecting sustained data center demand.
- Adjusted diluted EPS grew 213.6% to $0.69.
- Operating cash flow was positive $55 million in H1 2026, a significant improvement from a $31 million use of cash in H1 2025.
- AAON branded bookings increased approximately 16% year-over-year, leading to a 6% sequential increase in AAON branded backlog.
Qualified
- Consolidated gross margin declined to 24.3% from 26.6% year-over-year, impacted by ramp-up costs at new facilities and mix shift.
- BASX branded bookings were below unusually elevated levels of recent quarters, though pipeline remains strong.
- AAON Coil Products gross margin declined to 16.0% from 17.5% year-over-year due to inflationary pressures and freight costs.
The full ledger
Open AAON, INC.’s full ledger
A free account opens 5 company ledgers a month. All 37 tracked commitments, with each call’s wording and source.
Call summaries
Dec 2025 (Q4 FY25) — Mar 2, 2026
AAON Q4 FY25 — Strong Data Center Demand Fuels Growth Amid Operational Investments
Read the full callEvery analysed call
AAON earnings calls (AAON)
Financials
What the filings say
Net profit, year on year: +266% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 327 | 298 | 322 | 312 | 384 | 424 | 497 | 627 |
| Operating profit | 66 | 29 | 35 | 24 | 44 | 44 | 57 | 69 |
| Operating margin | 20.0% | 9.9% | 10.9% | 7.6% | 11.3% | 10.4% | 11.5% | 11.0% |
| Profit before tax | 65 | 28 | 32 | 20 | 38 | 38 | 52 | 63 |
| Tax rate | 18.4% | 12.7% | 9.8% | 20.6% | 19.9% | 16.4% | 23.6% | 9.8% |
| Net profit | 53 | 25 | 29 | 15 | 31 | 32 | 40 | 57 |
| EPS ($ per share) | 0.65 | — | 0.36 | 0.19 | 0.38 | — | 0.49 | 0.69 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 249 | 286 | 345 | 384 | 462 | 613 | 755 | 830 |
| Total liabilities | 59 | 81 | 98 | 184 | 253 | 206 | 351 | 792 |
| Fixed assets | 163 | 178 | 223 | 258 | 305 | 370 | 510 | 631 |
| Total assets | 308 | 371 | 449 | 650 | 814 | 941 | 1,175 | 1,687 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 55 | 98 | 129 | 61 | 61 | 159 | 193 | 1 |
| Cash from investing | -35 | -37 | -61 | -159 | -76 | -109 | -213 | -192 |
| Cash from financing | -40 | -18 | -30 | 19 | 17 | -47 | 18 | 187 |
| Capital expenditure | -37 | -37 | -68 | -55 | -54 | — | — | — |
| Free cash flow | 18 | 61 | 61 | 6 | 7 | — | — | — |
AAON revenue by segment
AAON Oklahoma shrank from 70% to 42% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q4 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| AAON Oklahoma | 70% | 65% | 50% | 59% | 62% | 51% | 49% | 42% | +41.7% |
| Bas X | 19% | 17% | 21% | 22% | 20% | 25% | 27% | 35% | +220.7% |
| AAON Coil Products | 11% | 18% | 29% | 19% | 18% | 24% | 24% | 23% | +150.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
103 filings between Nov 11, 2025 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
$594.0K
5 purchases by 3 insiders
Sales
$23.17M
22 sales by 5 insiders
23% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 15
- Award — granted as compensation
- 29
- Option exercise — converted options into shares
- 27
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Fields Gary D | — | $15.64M | May 29, 2026 |
| Thompson Rebecca | — | $5.12M | Jun 2, 2026 |
| Tobolski Matthew Joseph | — | $1.08M | May 13, 2026 |
| Kidwell Casey | — | $906.3K | May 14, 2026 |
| Wakefield Stephen E | $484.4K | — | Dec 12, 2025 |
| Wichman Gordon Douglas | — | $421.2K | May 26, 2026 |
| Stewart David Raymond | $74.7K | — | Sep 15, 2026 |
| Shaub Matthew | $34.9K | — | Aug 28, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Stewart David Raymond Director | Purchase | 1,000 | $74.7K |
| Sep 1, 2026 | ASBJORNSON NORMAN H Director | Gift | 100,000 | $0 |
| Sep 1, 2026 | Jermain Patrick John Director | Award | 1,284 | $0 |
| Sep 1, 2026 | Buttermore Robert L. Director | Award | 1,284 | $0 |
| Aug 28, 2026 | Shaub Matthew Executive Vice President | Purchase | 457 | $34.9K |
| Jun 2, 2026 | Thompson Rebecca Chief Accounting Officer | Sale | 4,230 | $606.7K |
| May 29, 2026 | ASBJORNSON NORMAN H Director | Gift | 88,000 | $0 |
| May 29, 2026 | ASBJORNSON NORMAN H Director | Gift | 101,441 | $0 |
| May 29, 2026 | Fields Gary D Director | Sale | 19,000 | $2.66M |
| May 26, 2026 | Wichman Gordon Douglas Executive Vice President | Option exercise | 3,000 | $82.7K |
| May 26, 2026 | Fields Gary D Director | Sale | 21,173 | $2.97M |
| May 26, 2026 | Wichman Gordon Douglas Executive Vice President | Sale | 3,000 | $421.2K |
| May 26, 2026 | Fields Gary D Director | Option exercise | 21,173 | $1.04M |
| May 14, 2026 | Kidwell Casey Chief Administration Officer | Sale | 1,069 | $147.9K |
| May 14, 2026 | Kidwell Casey Chief Administration Officer | Sale | 2,084 | $288.2K |
| May 14, 2026 | Kidwell Casey Chief Administration Officer | Option exercise | 2,084 | $166.2K |
| May 14, 2026 | Kidwell Casey Chief Administration Officer | Option exercise | 1,069 | $88.1K |
| May 13, 2026 | Tobolski Matthew Joseph Chief Executive Officer | Tax withheld | 467 | $63.2K |
| May 13, 2026 | Tobolski Matthew Joseph Chief Executive Officer | Sale | 8,000 | $1.08M |
| May 13, 2026 | Fields Gary D Director | Sale | 19,081 | $2.63M |
| May 13, 2026 | Fields Gary D Director | Option exercise | 19,081 | $689.4K |
| May 12, 2026 | ASBJORNSON NORMAN H Director | Award | 1,290 | $0 |
| May 12, 2026 | Lawhorn Caron A Director | Award | 1,290 | $0 |
| May 12, 2026 | Stewart David Raymond Director | Award | 1,290 | $0 |
| May 12, 2026 | Ware Bruce Director | Award | 1,290 | $0 |
| May 12, 2026 | Kouplen Angela Director | Award | 1,290 | $0 |
| May 12, 2026 | McElroy A H II Director | Award | 1,290 | $0 |
| May 12, 2026 | LeClair Stephen O Director | Award | 1,290 | $0 |
| May 12, 2026 | Fields Gary D Director | Option exercise | 5,253 | $166.5K |
| May 12, 2026 | Fields Gary D Director | Sale | 5,253 | $704.2K |
| May 12, 2026 | Fields Gary D Director | Sale | 26,018 | $3.49M |
| May 12, 2026 | Fields Gary D Director | Option exercise | 26,018 | $1.27M |
| May 7, 2026 | Thompson Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 9,672 | $1.32M |
| May 7, 2026 | Thompson Rebecca Chief Accounting Officer | Option exercise 10b5-1 plan | 9,672 | $285.1K |
| Apr 27, 2026 | Thompson Rebecca Chief Accounting Officer | Option exercise 10b5-1 plan | 400 | $11.8K |
| Apr 27, 2026 | Thompson Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 400 | $40.1K |
| Apr 24, 2026 | Thompson Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 21,914 | $2.20M |
| Apr 24, 2026 | Thompson Rebecca Chief Accounting Officer | Option exercise 10b5-1 plan | 21,914 | $646.0K |
| Apr 23, 2026 | Thompson Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 7,292 | $729.9K |
| Apr 23, 2026 | Thompson Rebecca Chief Accounting Officer | Option exercise 10b5-1 plan | 7,292 | $215.0K |
| Apr 21, 2026 | Thompson Rebecca Chief Accounting Officer | Sale 10b5-1 plan | 2,287 | $229.0K |
| Apr 21, 2026 | Thompson Rebecca Chief Accounting Officer | Option exercise 10b5-1 plan | 2,287 | $67.4K |
| Apr 20, 2026 | Cheung Chung Kin Chief Financial Officer | Award | 15,507 | $0 |
| Mar 12, 2026 | Kidwell Casey Chief Administration Officer | Option exercise | 1,554 | $56.1K |
| Mar 12, 2026 | Wichman Gordon Douglas Executive Vice President | Tax withheld | 55 | $5.0K |
| Mar 12, 2026 | Wichman Gordon Douglas Executive Vice President | Tax withheld | 89 | $8.1K |
| Mar 12, 2026 | Fields Gary D Director | Tax withheld | 1,025 | $93.8K |
| Mar 12, 2026 | Thompson Rebecca Chief Financial Officer | Tax withheld | 169 | $15.5K |
| Mar 12, 2026 | Fields Gary D Director | Tax withheld | 334 | $30.6K |
| Mar 12, 2026 | Thompson Rebecca Chief Financial Officer | Tax withheld | 155 | $14.2K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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