Every 10-Q that Aaon Inc (AAON) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AAON and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AAON filings page.
AAON, Inc. reported very strong growth for the quarter and six months ended June 30, 2026. Net sales for the quarter rose to $626.98 million from $311.57 million, with six‑month sales up to $1.12 billion from $633.62 million, driven mainly by BASX‑branded data center and cleanroom products and solid AAON‑branded demand.
Quarterly net income increased to $56.66 million from $15.49 million, and diluted EPS to $0.68 from $0.19. Gross profit was $152.49 million versus $82.73 million, though gross margin declined to 24.3% from 26.6% as AAON Oklahoma absorbed added overhead and mix shifted. SG&A grew in dollars but fell to 13.3% of sales from 19.0%, reflecting operating leverage.
Total assets reached $1.86 billion, equity $1.01 billion, and long‑term debt $435.0 million, implying a leverage ratio of 1.46x with $163.69 million of revolver capacity available. Operating cash flow for the first half was $54.97 million versus a use of cash a year ago, despite higher inventories and contract assets supporting growth. Backlog climbed to $1.97 billion, up 98.0% year over year, led by BASX data center liquid‑cooling orders, indicating substantial future revenue visibility.
AAON, Inc. delivered strong first‑quarter growth, with net sales rising 54.3% to $496.9 million, driven largely by BASX-branded data center and cleanroom products. Net income increased to $39.8 million from $29.3 million, and diluted earnings per share improved to $0.48 from $0.35.
Gross margin was 25.1%, slightly below 26.8% a year ago as mix and ramp-up costs offset scale benefits, but operating margin edged up to 11.5%. Backlog more than doubled to $2.13 billion, led by BASX data center liquid cooling orders, supporting future revenue visibility.
The company generated $34.0 million of operating cash flow, funded $45.1 million of capital expenditures, and ended the quarter with a leverage ratio of 1.71 and $173.5 million of revolver availability. AAON also expanded tax-advantaged financing through multiple New Markets Tax Credit projects.
AAON, Inc. reported lower profitability despite higher sales. Q3 net sales were $384.2 million versus $327.3 million a year ago, but net income fell to $30.8 million and diluted EPS to $0.37 from $0.63. Gross profit declined as cost of sales rose, while SG&A increased to $63.2 million. Management cited new U.S. tariffs as a significant headwind; a 6.0% tariff surcharge began April 1, with realization seen in Q3 and an expectation of full realization by year-end.
Operating cash flow was -$18.8 million for the first nine months, driven by higher receivables, inventories, and contract assets as BASX-branded demand grew. Debt rose to $360.1 million (revolver), with total assets at $1.53 billion; the revolver capacity was increased to $500 million, and the leverage ratio was 1.73x, within covenant limits. The warranty accrual increased to $27.5 million as warranty expense rose. The company paid a quarterly dividend of $0.10 per share and repurchased $30.0 million of shares in the open market year-to-date, with $70.0 million remaining under its February 2025 authorization.
AAON reported a sharp profit decline in Q2 2025 despite roughly flat quarterly sales. Net sales were $311.6 million versus $313.6 million a year ago, while gross profit fell to $82.7 million from $113.1 million. Income from operations dropped to $23.6 million and net income to $15.5 million (diluted EPS $0.19 versus $0.62). For the six months, sales rose to $633.6 million from $575.7 million but six-month net income fell to $44.8 million from $91.2 million, showing margin compression year-to-date.
Balance sheet and cash flow show growth in scale and working capital strain: total assets increased to $1.399 billion, contract assets rose to $233.2 million and inventories to $235.0 million. Operating cash flow was an outflow of $31.0 million versus a $127.9 million inflow a year earlier. The company increased borrowings (revolver outstanding $317.3 million) after expanding its revolver to $500 million and reported a leverage ratio of 1.4x within covenant. Shareholder returns continued with $39.2 million of repurchases and an increased quarterly dividend of $0.10 per share.
Management flagged post-period tax legislation (One Big Beautiful Bill Act) that will be evaluated in Q3 and expects specified deferred tax adjustments when recorded.