Filing Flows › Aaon (AAON) › Q2 2026 › vs Q2 2025
Aaon (AAON) Q2 2026 vs Q2 2025 (year over year)
Aaon's revenue rose $315M (+101%) from $312M in Q2 2025 to $627M in Q2 2026. The biggest changes: BasX +$150M (+221%); AAON Coil Products +$88.2M (+151%); AAON Oklahoma +$77.2M (+42%). Gross margin 24.3% against 26.6% (-2.2 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.3% | 26.6% | -2.2 pts |
| Operating margin | 11.0% | 7.6% | +3.4 pts |
| Net margin | 9.0% | 5.0% | +4.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| AAON Oklahoma | $262M | $185M | $77.2M | +42% |
| BasX | $218M | $68.0M | $150M | +221% |
| AAON Coil Products | $147M | $58.5M | $88.2M | +151% |
| Revenue | $627M | $312M | $315M | +101% |
| Gross profit | $152M | $82.7M | $69.8M | +84% |
| Cost of revenue | $474M | $229M | $246M | +107% |
| Operating profit | $68.9M | $23.6M | $45.3M | +192% |
| Operating expenses | $83.6M | $59.1M | $24.5M | +41% |
| Pre-tax earnings | $62.8M | $19.5M | $43.3M | +222% |
| Other expense, net | $6.0M | $4.1M | $2.0M | +48% |
| Net earnings | $56.7M | $15.5M | $41.2M | +266% |
| Income tax | $6.2M | $4.0M | $2.2M | +54% |
| Operating cash sources | $83.5M | $40.2M | $43.3M | +108% |
| Depreciation & amortization | $23.8M | $19.9M | $3.9M | +19% |
| Share-based compensation | $3.0M | $4.8M | −$1.8M | -37% |
| Working capital & other | $62.5M | $62.0M | $481K | +0.8% |
| Operating cash flow | $21.0M | −$21.8M | $42.8M | — |
| Capital expenditures | $52.2M | $35.8M | $16.4M | +46% |
| Negative free cash flow (OCF − capex) | $31.2M | $57.6M | −$26.4M | -46% |
Questions
How much did Aaon's revenue grow year over year in Q2 2026?
Aaon's revenue rose $315M (+101%) from $312M in Q2 2025 to $627M in Q2 2026.
What drove Aaon's revenue change in Q2 2026?
BasX +$150M (+221%); AAON Coil Products +$88.2M (+151%); AAON Oklahoma +$77.2M (+42%).