AAON AAON, INC.
Price Chart
Executive Summary
AAON reported record Q1 2026 sales of $496.9M (+54.3% YoY) and GAAP diluted EPS of $0.48 (+37.1% YoY), significantly beating the $0.31 consensus. Backlog reached a record $2.13B (+107.4% YoY), and the company raised its full-year revenue growth guidance to 40-45% from prior 18-20%. A $100M share buyback was also authorized.
Key Financial Metrics
Actionable Insight
The raised guidance and record backlog signal sustained data center demand and improving operational execution. Monitor gross margin progression through 2026 as capacity utilization improves; the stock may re-rate higher on the growth acceleration.
Key Facts
- Q1 2026 net sales $496.9M, +54.3% YoY; GAAP diluted EPS $0.48, +37.1% YoY.
- EPS of $0.48 beat consensus of $0.31 by 54.8%.
- Record total backlog of $2.13B, up 107.4% YoY and 16.5% sequentially.
- Raised FY2026 revenue growth guidance to 40-45% from 18-20%.
- Board authorized $100M share repurchase program.
- Operating cash flow improved to $34.0M, highest since Q3 2024.
Financial Impact
Strong earnings beat and raised guidance; $100M buyback represents ~1.25% of market cap.
Risk Factors
- Gross margin compression from capacity ramp (25.1% vs 26.8% YoY) may persist near-term.
- Elevated debt ($425.2M revolver balance) and capex ($52.9M) strain balance sheet.
- Tariff and raw material cost risks could impact margins.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000824142-26-000034 |
| Document: aaon-20260507.htm | 0000824142-26-000034 |
| Document: 0000824142-26-000034-index-headers.html | 0000824142-26-000034 |
| Document: 0000824142-26-000034-index.html | 0000824142-26-000034 |
| Document: 0000824142-26-000034.txt | 0000824142-26-000034 |
| 8-K Data (Synthetic) | 0000824142-26-000034 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 8, 2026
1d ago
|
8-K
| $132.69 awaiting T+5 | awaiting T+5 | — | $132.05 (−0.48%) |
|
Jun 5, 2026
4d ago
|
Insider Cluster
| $137.32 awaiting T+5 | awaiting T+5 | — | $132.05 (−3.83%) |
|
Jun 1, 2026
8d ago
|
ANALYST-UPGRADE
| $73.45 $72.99 | ▼ −0.62% | ▼ −1.31% | $132.05 (+79.79%) |
|
May 27, 2026
13d ago
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Insider Cluster
| $139.54 $143.50 | ▲ +2.84% | ▲ +1.63% | $132.05 (−5.37%) |
|
May 27, 2026
13d ago
|
Insider Cluster
| $139.54 $143.50 | ▲ +2.84% | ▲ +1.63% | $132.05 (−5.37%) |
|
May 18, 2026
22d ago
|
8-K
| $133.94 $141.12 | ▲ +5.36% | ▲ +3.74% | $132.05 (−1.41%) |
|
May 15, 2026
25d ago
|
Insider Cluster
| $135.49 $134.60 | ▼ −0.66% | ▼ −1.62% | $132.05 (−2.54%) |
|
May 13, 2026
27d ago
|
Insider Cluster
| $140.00 $132.39 | ▼ −5.44% | ▼ −4.72% | $132.05 (−5.68%) |
|
May 13, 2026
27d ago
|
144
| $135.37 $133.76 | ▼ −1.19% | ▼ −1.05% | $132.05 (−2.45%) |
|
May 7, 2026
4w ago
|
8-K
| $129.25 $135.37 | ▲ +4.74% | ▲ +3.23% | $132.05 (+2.17%) |
US Market Status
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