AAON Q3 sales up 84.1% to $707.4M, EPS $0.83; restates H1 2026, discloses material weakness, raises FY26 outlook

AAON, INC.

• Q3 net sales record $707.4M, +84.1% YoY; BASX-branded sales $397.2M (+218.3%), AAON-branded $310.2M (+19.6%).
• Operating income $100.0M (+129.3%); GAAP and adjusted diluted EPS $0.83 (+124.3%); gross margin 26.7% vs 27.8% a year ago, up 60 bps sequentially.
• Restated Q1/Q2 2026: Q1 net income cut $3.4M to $36.5M; H1 net income raised $7.1M to $103.6M; first-half sales +$10.7M, diluted EPS +$0.09.
• Material weakness in internal controls tied to percent-of-completion revenue and software subscription accounting; no fraud found; remediation underway.
• FY26 outlook raised to 72%-75% sales growth (from 55%-60%); total backlog $1.9B, +40.5% YoY but -5.9% QoQ; YTD operating cash flow $146.9M vs -$18.8M.