Aebi Schmidt (AEBI) Q2 2026 earnings summary

Executive summary

• Achieved strong Q2 2026 results with 9% net sales growth and 22% adjusted EBITDA increase year-over-year, driven by operational efficiency, synergy realization, and cost control.

• Order intake rose 16% to $516 million and backlog grew 20% to $1.3 billion compared to Q2 2025, providing strong visibility for future quarters.

• Marked the first anniversary of the Shyft acquisition, with successful integration, expanded North American presence, and increased synergy targets above $40 million.

• Released updated Group Strategy 2030, aiming for global leadership in specialty vehicles and targeting over $3 billion in annual revenue and mid-teen adjusted EBITDA margin by 2030.

• Net income reached $10.5 million in Q2 2026, a turnaround from a $7.9 million loss in Q2 2025.

Financial highlights

• Q2 2026 net sales reached $496 million, up 9.4% year-over-year; North America led with 11% growth, Europe and Rest of World up 7%.

• Adjusted EBITDA grew 22% to $42.1 million; EBITDA margin improved by 90 basis points to 8.5%.

• Net income increased by $18 million year-over-year, reaching $10.5 million in Q2 2026.

• Order intake was $516 million (+16% YoY); order backlog at $1.3 billion (+20% YoY).

• Net working capital improved to $449 million; net debt at $450 million, leverage reduced to 2.72x from 3.28x year-over-year.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: net sales of $1.95–$2.15 billion and adjusted EBITDA of $175–$195 million.

• Targeting $3 billion in annual sales and mid-teen adjusted EBITDA margin by 2030.

• Leverage target for year-end 2026 updated to 2x or slightly above, reflecting temporary supply chain investments.

• Margin expansion expected as price increases flow through by year-end and into 2027.

• Management anticipates continued sequential revenue growth in the second half of 2026.