Filing Flows › Aaon (AAON) › Q2 2026 › vs Q1 2026
Aaon (AAON) Q2 2026 vs Q1 2026 (quarter over quarter)
Aaon's revenue rose $130M (+26%) from $497M in Q1 2026 to $627M in Q2 2026. The biggest changes: BasX +$82.7M (+61%); AAON Coil Products +$29.1M (+25%); AAON Oklahoma +$18.3M (+8%). Gross margin 24.3% against 25.1% (-0.8 pts).
Aaon, Q2 2026: revenue $627M (+101% year over year), operating margin 11.0%, net earnings $56.7M, operating cash flow $21.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 24.3% | 25.1% | -0.8 pts |
| Operating margin | 11.0% | 11.5% | -0.5 pts |
| Net margin | 9.0% | 8.0% | +1.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| AAON Oklahoma | $262M | $244M | $18.3M | +8% |
| BasX | $218M | $135M | $82.7M | +61% |
| AAON Coil Products | $147M | $118M | $29.1M | +25% |
| Revenue | $627M | $497M | $130M | +26% |
| Gross profit | $152M | $125M | $27.5M | +22% |
| Cost of revenue | $474M | $372M | $103M | +28% |
| Operating profit | $68.9M | $57.1M | $11.8M | +21% |
| Operating expenses | $83.6M | $67.9M | $15.7M | +23% |
| Pre-tax earnings | $62.8M | $52.1M | $10.8M | +21% |
| Other expense, net | $6.0M | $5.0M | $1.1M | +21% |
| Net earnings | $56.7M | $39.8M | $16.8M | +42% |
| Income tax | $6.2M | $12.3M | −$6.1M | -50% |
| Operating cash sources | $83.5M | $68.4M | $15.1M | +22% |
| Depreciation & amortization | $23.8M | $20.9M | $2.9M | +14% |
| Share-based compensation | $3.0M | $7.7M | −$4.7M | -61% |
| Working capital & other | $62.5M | $34.4M | $28.1M | +82% |
| Operating cash flow | $21.0M | $34.0M | −$13.0M | -38% |
| Capital expenditures | $52.2M | $45.1M | $7.0M | +16% |
| Negative free cash flow (OCF − capex) | $31.2M | $11.1M | $20.0M | +180% |
Questions
How much did Aaon's revenue grow quarter over quarter in Q2 2026?
Aaon's revenue rose $130M (+26%) from $497M in Q1 2026 to $627M in Q2 2026.
What drove Aaon's revenue change in Q2 2026?
BasX +$82.7M (+61%); AAON Coil Products +$29.1M (+25%); AAON Oklahoma +$18.3M (+8%).