AAON Stock Jumps as Q1 Earnings, BASX Backlog Force a 2026 Guidance Reset
AAON raised its 2026 sales-growth forecast to 40%-45% after first-quarter revenue jumped 54.3% to $496.9 million and backlog more than doubled to $2.13 billion, driven by BASX data-center cooling demand. Shares surged 36.2% to $133.92. Gross margin fell to 25.1% from 26.8% a year earlier as costs rose. Diluted EPS increased to 48 cents, beating consensus estimates.