Quarterly ResultMay 12, 2026, 07:07 AM
Madison Air Q1 Net Sales +33.8% to $923.7M; Adj. EBITDA +38.7%
AI Summary
Madison Air Solutions reported strong first-quarter 2026 financial results, with net sales increasing 33.8% to $923.7 million and adjusted EBITDA rising 38.7% to $233.4 million. The company also highlighted a 115.5% year-over-year increase in backlog and a 29.1% rise in orders. Following the quarter, Madison Air completed its initial public offering, using the net proceeds to repay $2.66 billion in outstanding debt, significantly improving its capital structure and reducing net leverage to 3.0x.
Key Highlights
- Net sales increased 33.8% to $923.7 million in Q1 2026.
- Adjusted EBITDA rose 38.7% to $233.4 million, with margin up 89 bps to 25.3%.
- Net income decreased 6.9% to $43.0 million, while adjusted net income grew 32.1% to $92.5 million.
- Backlog was up 115.5% year-over-year, and orders increased 29.1% on a combined basis.
- Commercial segment net sales grew 23.5% to $609.8 million; Residential segment net sales grew 59.8% to $315.6 million.
- Cash flow from operations was $57.8 million, and free cash flow was $50.4 million.
- Completed IPO on April 17, 2026, raising $2.58 billion net proceeds, used to repay $2.66 billion debt.
- Full-year 2026 guidance for net sales is $3.75 billion to $3.85 billion, and adjusted EBITDA $1.02 billion to $1.065 billion.