Madison Air posts $991M Q2 revenue as backlog surges 133%

Madison Air reported second-quarter net sales of $991.3 million, up 21% from a year earlier, as its backlog more than doubled to $2.87 billion on strong demand across its end markets.

"The strong order momentum we experienced in the first quarter continued into the second quarter, driving record backlog and positioning us well for sustained growth," the company said in its earnings release.

Net income rose 129% to $70.5 million, with a net income margin of 7%. On an adjusted basis, net income reached $147.7 million, up 71% from the prior-year period. Adjusted EBITDA climbed 18% to $265.8 million, representing a 27% margin. Orders increased 45% on a combined basis, while pro forma net sales grew 14%.

The company generated $98.6 million in cash from operations and $89.6 million in free cash flow during the quarter. Net leverage stood at 2.8x, down roughly 0.2x from immediately following its initial public offering, reflecting debt reduction alongside earnings growth.

The 133% surge in backlog to $2.87 billion signals that revenue visibility extends well beyond the current fiscal year, giving management flexibility to invest in capacity and pursue strategic initiatives. Investors will watch the company's next quarterly update for margin progression as the elevated backlog converts to recognized revenue.

This article is for informational purposes only and does not constitute investment advice.