AAON(US:AAON)2025-08-11 13:00Financial Performance - Q2 2025 net sales were $311.6 million, a decrease of 0.6% year-over-year[6, 22] - Gross profit margin was 26.6%, a decrease of 950 bps year-over-year[6] - Non-GAAP adjusted EBITDA was $46.6 million, with a margin of 14.9%, a decrease of 43.1% year-over-year[6, 22] - Non-GAAP adjusted diluted EPS was $0.22, a decrease of 64.5% year-over-year[6, 22] Segment Performance - AAON Oklahoma net sales declined by 18.0% to $185.1 million, with a gross margin of 27.5%[23, 29] - AAON Coil Products net sales increased by 86.4% to $58.5 million, with a gross margin of 22.0%[23, 32, 33] - BASX net sales increased by 20.4% to $68.0 million, with a gross margin of 27.9%[23, 36, 37] Backlog and Orders - Adjusted backlog was $1.12 billion[6] - AAON-branded backlog increased by 93.4% year-over-year and 22.4% quarter-over-quarter[14] - BASX-branded backlog increased by 58.0% year-over-year to $623.4 million[43] Balance Sheet - The company closed on a new $500.0 million credit facility in Q2[42] - The company repurchased $30.0 million of shares[42] - Expect capital expenditures of approximately $220.0 million in 2025[42] Revised Outlook - The company revised its 2025 sales growth outlook to low-teens[45] - The company revised its 2025 gross margin outlook to 28%-29%[45] - The company revised its 2025 adjusted SG&A as a percentage of sales outlook to 16.5%-17.0%[45]