Aebi Schmidt (AEBI) Q2 2026 Earnings Call: EBITDA Up 22%, Backlog Near $1.3B
Source Tradingkey
Key Takeaways
- Q2 2026 order intake increased 16% year over year to $516 million, while order backlog grew nearly 20% to approximately $1.3 billion.
- Net sales rose 9.4% organically to $496 million. North America grew 11%, and Europe and Rest of World increased 7%.
- Adjusted EBITDA advanced 22% to $42 million, outpacing sales growth. The adjusted EBITDA margin reached 8.5%.
- Net debt was $450 million, down $5 million from March. Leverage declined to 2.7x, more than half a turn below the June 2025 level.
- Management confirmed its full-year 2026 net sales and adjusted EBITDA guidance but revised the year-end leverage target to 2x or slightly above, from 2x or slightly below.
- The annual run-rate synergy target from The Shyft Group acquisition was raised to more than $40 million. Management expects $37 million to be realized by year-end 2026, with roughly $5 million more in 2027.
Key Financial Data
| Metric | Q2 2026 | Change | Management commentary |
|---|---|---|---|
| Order intake | $516 million | +16% YoY | Growth across both segments, led by Airport and Chassis, municipal, and recovering walk-in van demand |
| Order backlog | Approximately $1.3 billion | Nearly +20% YoY | Provides visibility for the remainder of 2026 and beyond |
| Net sales | $496 million | +9.4% organic YoY | North America was the main growth driver |
| Adjusted EBITDA | $42 million | +22% YoY | Supported by operating efficiencies, completed ramp-ups, synergies, and cost control |
| Adjusted EBITDA margin | 8.5% | Management reported an improvement of around 19 basis points | Gross-margin pressure was partly offset by tight spending controls |
| Net working capital | $449 million | Improved YoY | Working capital as a percentage of sales declined to 23.0% from 25.0% a year earlier |
| Net debt | $450 million | Down $5 million from March | Quarter-end leverage was 2.7x |
| Net income | — | +$18 million YoY | Improvement reflected stronger profitability |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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