For the third quarter of 2026, analysts expect AAON to report consensus revenue of $601.19 million and EPS of $0.57, while the current stock price of $57.70 sits well below the average analyst price target of $114.00.
The central focus for investors is the conversion of AAON’s record $2.1 billion backlog into realized revenue, specifically within the high-growth BASX data center cooling segment. This earnings release follows a record-breaking second quarter where the company significantly outperformed expectations and subsequently raised its full-year 2026 revenue growth guidance to 40-45%.
Market participants will also be closely monitoring whether gross margins have stabilized as the company’s massive Memphis facility reaches operational maturity.