AEBI

Image source: The Motley Fool. Thursday, Aug. 13, 2026, at 8:30 a.m. ET Investor Relations Director-Simone Grancini Chairman and Group CEO-Barend Fruithof CEO, North America-Steffen Schewerda CEO of Europe and Rest of World-Henning Schroeder Group CFO-Marco Portmann Operator: Good day, and thank you for standing by. Welcome to the Aebi Schmidt Group Second Quarter 2026 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Simone Grancini, Investor Relations Director. Please go ahead. Simone Grancini: Thank you, Sharon. Good morning, and welcome to the Aebi Schmidt Second Quarter 2026 Earnings Call. Joining me on the call today are Barend Fruithof, Chairman and Group CEO, who will provide the highlights of the second quarter and outlook and concluding remarks. Steffen Schewerda, CEO, North America; and Henning Schroeder, CEO of Europe and Rest of World, who will detail the performance in the respective segments; and Marco Portmann, Group CFO, who will provide a financial overview. Today's comments include forward-looking statements subject to the safe harbor language contained in this morning's press release and in Aebi Schmidt's filings with the SEC. And as a reminder, all 2025 comparative figures referenced in today's material, like all figures prior to the July 1, 2025 acquisition, are presented on a combined basis for Aebi Schmidt and the acquired Shyft Group. Accordingly, all year-over-year comparisons are based on combined 2025 financial information of both companies rather than stand-alone historical results. And with that, I hand the call over to Barend. Barend Fruithof: Good morning, everyone. Our second quarter 2026 results are another substantial step forward with significantly improved profitability. As shown on Slide 5, order intake increased by 16%, order backlog grew 20% and net sales rose by 9% compared with the second quarter of 2025. Most importantly, we delivered a substantial improvement in profitability. Adjusted EBITDA grew by 22% and net income increased by $18 million year-over-year. In other words, profitability increased over proportionally compared to sales, reflecting production ramp-ups and other operational efficiency, the accelerated realization of acquisition synergies and strict cost control. On Slide 6, I would like to briefly summarize some of our key achievements. First of all, we have now passed the first anniversary of The Shyft acquisition, and we are very proud of what we have accomplished over those last 12 months. In connection with the anniversary, we released our updated Group Strategy 2030, setting out a clear road map toward our ambition of becoming the global leader in specialty vehicles. On the top line, we continued to build momentum across all major business lines in the second quarter, including securing important orders. In North America, we secured a landmark $96 million walk-in van frame contract, achieved a record quarter at Royal with our service bodies and continued to benefit from strong momentum in airport and municipal. In Europe, we secured a major German motorway contract, expanded our cross-selling success with leading airport customers and successfully launched the new Aebi Terratrac in our agricultural business. Turning to Slide 7. One year after the acquisition of The Shyft Group, I'm very happy with our progress. Comparing the 12 months before and after the acquisition, order intake has increased by 26%, adjusted EBITDA has grown by 22% and our EBITDA margin has improved by approximately 120 basis points. We have successfully integrated our operations, expanded our American footprint, simplified our brand architecture and increased our synergy target to more than $40 million on an annual run rate. At the same time, we continued to invest in innovation to strengthen our competitive position across all business lines. This progress reinforces our confidence in the long-term value creation potential for the combined company. Slide 8 highlights our continued innovation across the group. We recently introduced multiple new products and technologies including the Cleango 550 compact sweeper, our next-generation Terratrac, expanded electric vehicle offerings and importantly, new airport equipment solutions. At the same time, in partnership with Yeti Move, we continue to develop autonomous airport operation solutions for our customers. Together, these initiatives strengthen our market leadership and support our organic growth. And now I turn the call over to Steffen. Steffen Schewerda: Thank you, Barend, and good morning, everyone. We are on Slide 10. North America delivered a strong quarter characterized by 3 elements: the top line execution, backlog conversion and overproportional profitability improvement. In Airport and Chassis, order momentum remained robust. This was supported by major project awards. We also continued the expansion of the AtlasCare service network through our partnership with Love's Travel Stops. Within Goods Transport, we secured a significant 7-year $96 million frame contract with a strategic U.S. customer. This customer has been a partner for more than 2 decades. For the first time, the agreement includes cargo vans in addition to walk-in vans. We view this expansion as a clear sign of trust and a validation of the broader capabilities of the combined portfolio. Our commercial business continues to benefit from healthy backlog levels. Royal had a record quarter. Here, service body production increased by more than 20% compared to historical averages. In municipal, we secured multiple Swenson awards. In addition, we successfully completed the Joliet production ramp-up with customer deliveries progressing as planned. Overall, demand remains healthy, and our execution continues to improve across all major product categories. Turning to Slide 11. Order intake remained strong, and you can see the backlog increased around 27% year-over-year. Sales increased 11% year-over-year. This was driven primarily by successful walk-in van backlog conversion. In addition, we continued to see strong airport and improved municipal output. Adjusted EBITDA increased by approximately 22%, substantially outperforming sales growth. This reflects improved operating efficiency, completed ramp-ups and strong contributions from both Airport and also Royal. Overall, we are pleased with the quarter and remain confident in the growth outlook for North America. And with that being said, I hand the call over to my colleague, Henning Schroeder. Henning? Henning Schroeder: Thank you, Steffen, and good morning. Europe and Rest of World delivered another strong quarter, driven by exceptional order intake momentum and continued profitability improvement. Our result reflects the strength of our market position and commercial execution. In Airport, a major U.K. airport group selected Aebi Schmidt as its preferred supplier for winter maintenance and airfield sweeping equipment. In addition, we successfully cross-sold LADOG vehicles into the airport segment. This underlines the potential to penetrate new customer segments, expand the addressable market and unlock additional growth opportunities. Within municipal, we secured a significant $11 million German motorway contract, strengthening our position with one of Europe's key clients. At the same time, we continue to benefit from increasing demand for electrified municipal vehicles. In agriculture, the launch of the new Aebi Terratrac generated strong customer interest and highlighted our continued innovation leadership. Across the region, we continue to see healthy demand levels and strong customer engagement. Turning to Slide 14. Order intake increased approximately 20% compared with last year, supported by strong demand across Southern and Central Europe as well as several significant contract wins. Net sales increased by approximately 7%, reflecting continued operational discipline and strong production performance. Adjusted EBITDA increased by 25% for the quarter and marked another step forward in our profitability improvement journey. The key drivers remain higher gross margins, strong aftermarket performance and disciplined cost management. I'm proud of the progress our teams continue to deliver. That concludes my comments, and I'll now turn the call over to Marco. Marco Portmann: Thank you, Henning, and good morning, everyone. Turning to Slide 16. Order intake increased 16% compared with the second quarter of 2025 and reached $516 million. This performance was supported by growth in both our segments, particularly in Airport and Chassis, municipal and the continued recovery of walk-in vans. Order backlog increased nearly 20% year-over-year to approximately $1.3 billion and provides good visibility for the remainder of 2026 and beyond. Moving to Slide 17. Group net sales reached $496 million, representing an impressive organic growth of 9.4% compared with the second quarter of 2025. North America was the main driver with sales up 11% versus last year with walk-in vans as a major driver alongside growth -- strong growth nearly throughout. Europe and Rest of World delivered a strong 7% organic growth through continued sales execution, further expanding its already strong market share. Overall, the second quarter demonstrates our ability to convert our substantial backlog into profitable revenue growth. And looking at profitability on Slide 18. Adjusted EBITDA in the second quarter reached $42 million, representing growth of 22% year-over-year. Group adjusted EBITDA margin increased to 8.5%, reflecting an improvement of around 19 basis points. Now given the ongoing geopolitical uncertainties and continued discussions on trade tariffs, which are triggering supply chain disruptions and material cost inflation, we continue to be very cautious in our spending. This tight cost management allowed us to mitigate temporary pressure on our gross margin and supported our realized adjusted EBITDA in this quarter. Looking ahead, we also expect our recent sales price increases to improve gross margins, which were executed swiftly but are realized with some delay due to the substantial order backlog we carry. Looking at our reporting net sales segments, North America benefited from improved operating efficiency, complete ramp-ups and stronger backlog conversion. Europe and Rest of World continued its profitability trajectory on a strategic path to expand realized margins. This demonstrates the earnings potential of our platform as net sales continue to grow. Finally, having a look at our balance sheet on Slide 19. Net working capital improved year-over-year to $449 million despite continued strong sales growth, reflecting ongoing efficiency improvements and disciplined working capital management. Net debt stood relatively flat at $450 million at quarter end, down $5 million from March with a leverage of 2.7x, down more than half a turn compared to the end of June 2025. With our profitability and working capital improvements, we are well on track toward our leverage target of 2x by year-end 2026. However, temporary investments in securing our supply chain and protecting our margins, including avoiding outsized material cost increases will slightly impact us through year-end and into the first quarter 2027. Accordingly, we are slightly updating our leverage target for year-end 2026 from previously 2x or slightly below to 2x or slightly above at year-end '26. These temporary investments allow us to continue to support our strong and profitable growth while retaining our path to deleverage the balance sheet, consistent with our capital allocation strategy. That concludes my comments, and I hand it back to Barend for the closing remarks. Barend Fruithof: Thank you, Marco. Turning to Slide 21. We are pleased with our second quarter's performance and the continued progress across all areas of our business. Order momentum remains strong, further supporting an already strong order backlog. Net sales continued to increase with an impressive organic growth. Adjusted EBITDA is growing significantly faster than revenue, demonstrating the benefits of operational improvements, realized synergies and disciplined execution. Based on this performance, we confirm our full year 2026 guidance for net sales and adjusted EBITDA. We remain confident in our ability to deliver profitable growth while advancing our long-term ambition of becoming a $3 billion revenue company with a mid-teen adjusted EBITDA margin. At the same time, our working capital management continues to improve, supporting cash flow and deleveraging with more than 0.5 turn reduction in leverage year-over-year. We expect at least another 0.5 turn improvement by the end of 2026. That being said, our guidance assumes that geopolitical turmoil, tariff discussions and inflation continues to normalize. As Marco mentioned, we faced temporary pressure on our gross margins due to unexpected supply chain challenges and material cost pressure. But with our resilient business model and cautious approach, we are able to compensate for these impacts with strict cost management. Additionally, executed price increases will mostly come through by year-end and early 2027. Now beyond the second quarter update, let me also take a moment to summarize why we believe Aebi Schmidt is uniquely positioned for long-term value creation as shown on Page 22. Our investment case rests on 4 key pillars: First, we are a global leader in specialty vehicles. We have built long-standing customer relationships across our 2 home markets, supported by a portfolio of leading brands and a continuous focus on strengthening our product offering. Second, we see a compelling growth opportunity today. We have a backlog of almost $1.3 billion, giving us strong visibility. At the same time, we continue to benefit from exposure to attractive end markets, the expansion of our aftersales business and additional opportunities to grow through M&A. Third, we have multiple levers to drive profitability. We expect to further optimize our manufacturing footprint and improve operational efficiency across the group. These initiatives support sustainable margin expansion over time. Finally, we have a resilient business model, our local-for-local operating model, geographically diversified platform and strong balance sheet helps us to navigate challenging market environments. These strengths support our 2030 ambitions to delivering over $3 billion in annual sales through organic growth, a market recovery and disciplined M&A while increasing our adjusted EBITDA margin to above 13% through synergies, pricing and mix and continued operational improvements. That concludes our presentation. I now turn it over to our operator to open up the line for questions. Operator? Operator: [Operator Instructions] And our first question today comes from the line of Michael Shlisky from D.A. Davidson. Michael Shlisky: The large order that you mentioned in the quarter, did you say it was a 7-year order or $96 million order, maybe that was. Was that all in the backlog as of the end of the quarter? Is that entirely for shipment in 2026? And how common is a $90 million-plus order? Is that something that would happen every quarter? Or is this just a very, very unusual onetime thing? Marco Portmann: Mike, this is Marco. Just quickly repeating the question. We had a bit of an interruption in the line. So the question is the $96 million frame work order, whether that's on backlog by the end of the quarter, how much of that is realized in '26 and whether it's a normal size order or not, if I got that correctly? Yes, definitely. Michael Shlisky: Yes. Steffen Schewerda: Michael, this is Steffen. So this is -- yes, this is a 7-year order, $96 million. We will see the first revenue realization in 2027, OK? What is a little bit unusual is that it is not from the big parcel delivery companies. So we are broadening our portfolio here. So we are basically the segments, we see improved order entry from other segments as well. And on top of that, this is more than just walk-in vans. So there were cargo vans added. So we are broadening the portfolio here when we are offering to the customers. Barend Fruithof: So Mike, and to add one point here, you asked also if that is booked into our backlog, which is not the case. So we have here a very cautious model. Normally, we don't book any frame contracts in our backlog. We just book it once we have received the PO. Steffen Schewerda: Thanks, Barend. Yes. It's a general rule in our company. Michael Shlisky: Got it. That's a very important detail. I really appreciate that. And then maybe my follow-up will also be on the walk-in van chassis area. I'm sure you've heard this, there was an announcement last week with about Ford transitioning a good portion of that -- of their walk-in van chassis business. It will still be a Ford powertrain, but most of the design, sales assembly will be handled by Blue Bird going forward. Can you maybe share on this call, what are your impressions of that deal? Can you tell me what if anything might change at Aebi Schmidt in respect to how you upfit in the step van market? And from what you've heard about their transition plan throughout 2027 and 2028, do you look to see any temporary disruption on your step van business as they change over? Barend Fruithof: So first of all, thank you very much for this question. So chassis supply remains a critical topic for our industry and for us, and we see the announced move to the Ford chassis production Blue Bird as positive. It stabilizes chassis supply and removes risk of a bigger supply gap linked to necessary EPA 27 certification. So we have been in close contact with Blue Bird, and we deepen our relationship, and we see that as a support also going forward. What we have seen so far that some of our clients moved from the Ford chassis to the FCCC chassis. So we have to aggressively watch the situation, how that will develop because they have quite an aggressive plan to launch that new chassis in 2028. But overall, we see that as a positive development also that we still have then 2 providers in the chassis market. So that is it from our perspective. And as you know, we have quite a good momentum in the walk-in van business. And as I said, we see big movement toward the FCCC chassis. Operator: Our next question today comes from the line of Ben Sommers from BTIG. Benjamin Sommers: So I wanted to ask a little bit on the 2030 strategic target that you guys gave. It seems like there's an M&A baked in there. Just curious kind of what you're seeing in that market? And just if you could talk a little bit about what's baked into that assumption. Barend Fruithof: Okay. So thanks a lot for this question. So first of all, it's clearly our goal to first deleverage the company as we have also outlined in our presentation. And then we see a few areas where we can further grow our company through an M&A. First of all, in Europe. So there, we are still being a bit winter dependent. So there we see opportunities more as we call it, into the summer business. Secondly, the commercial business is still very much in transformation and consolidation. There we see some opportunities. And the third point is we still believe that we should have a similar business model in the U.S. And there, we see some opportunities also in the sweeper area. Benjamin Sommers: Super helpful. Then just kind of wanted to ask a little bit about production or manufacturing capacity. I know we mentioned the new upfit center in Iowa and with Chicago, that now fully operational, and we've had some strong backlog growth here. So just kind of how do you think about manufacturing capacity moving forward? And is there any specific markets that maybe you're targeting moving forward in North America? Steffen Schewerda: Ben, this is Steffen. So the Joliet upfit center is operational and did ramp up very successfully. So we are on track with our customer deliveries. The one in Iowa, you were referring to, we started the commercial business, the commercial upfitting there that is operational. Municipal will follow. So we start to utilize our upfit centers more and more for commercial and municipal on the combined base. Despite the geographical white spots, and we elaborated that in previous calls, we are working on, we are pretty well set with our operational footprint, but I want to say that there might be future and there is future potential for more rationalization and cost reductions when it comes to the footprint. Does that answer your question? Benjamin Sommers: Yes. Super helpful. Operator: Your next question today comes from the line of Matt Koranda from ROTH Capital. Matt Koranda: Maybe just could you first unpack some of the temporary impacts that you're investing in, I guess, in the supply chain that are driving the slight shift in the leverage target at the end of the year? Marco Portmann: Sure. This is Marco speaking, Matt. Well, look, I mean, we have seen that supply chain has been a bit distorted, not in the sense that you would see, let's say, like with pandemic times where things are not available. So that's not the case. We have seen that there's a high risk. There's alongside the high risk also quite a material cost inflation pressure, which was to some degree also a little bit unexpected, right? So because we talk about previously steel, alu lock-ins, how we have essentially also surcharged in certain areas to cover that. But there are suppliers of suppliers to now come through with some price increases. And you see that also in the gross margin reflected. And to secure that position there, we have slightly increased our safety stocks. We have some elements where we buy a little bit in bigger batches than we would usually do just to get better discounts and things like that. And so that's a bit of a combination of measures that's just making sure that this pressure is countered and mitigated. And it will however lead to some temporary investments, as mentioned, for the next 3 quarters-ish, so basically until early 2027 is what we can see so far. And despite progressing very nicely with the working capital efficiency, I mean, I should point out, right, if you look at working capital ratio to net sales, a year ago, we were at 25% in that ratio in that perspective. Now we are at 23%. So we made 2 full percentage points in progress in just a year. The midterm target, I should add as well, which we have given out in the equity story here is to get to 20-ish percent within another 2, 2.5 years. And so we feel we're well on track to that, but this is a temporary hiccup that we're going to take just to make sure the profitability stays where we need it to be. Matt Koranda: Okay. Very helpful. And then for my follow-up, just looking at the long-term outlook, and the margin target in 2030, it looks like about 400 basis points of EBITDA margin expansion basically over the next 4 years if we're using the midpoint of your guidance this year. How should we think about the step-up through 2030? Is that a linear sort of step-up in progression that you envision? Or is there something a little bit lumpier that we should be taking into account, maybe synergies realized earlier in the period or anything else that we should be thinking about as we look at the track toward the 2030 margin target? Marco Portmann: Yes. I mean, very good question. And look, the thing is in single measures, there are partly some step-ups, yes. But overall, because it's such a combination of measure, right? It's the operational footprint, it's the extension of the aftersales market. It is the continuation of the final synergies to come in. And I should add on synergies, as we spoke about also today, we have accelerated that further to some degree, we're now nearly done. We expect to be at $37 million by year-end 2026 with roughly [ $5 million ] to come still in 2027. And the gist of it all, if you put it all together is that no, there's no big step-up through that next couple of quarters and years because the combination of the measures basically means that it's pretty much linearly going to develop until that 13-plus percent that we are giving as a midterm guidance by 2030. Operator: Our next question today comes from the line of Dave Storms from Stonegate. David Joseph Storms: Marco, I wanted to hold on that last synergy comment for a second there. I saw that you did increase that target to over $40 million. Could you maybe just help us understand where that's coming from, what that should look like on the ground and maybe any timing around that increase? Marco Portmann: Yes, sure. I mean, look, we spoke about it before, right? So the initial target was $25 million to $30 million. We rather quickly were able to increase that in 2025. That was mostly driven from additional OpEx. So we essentially have additional potential identified in the organization, but also just with the base OpEx spending that was executed fairly quickly. Again, that's also part of what helps us now to mitigate a little bit that gross margin pressure we see. And as just mentioned, right, we now expect to see $37 million realized by year-end. The piece that's still to come, that's now ramping up in the third quarter is the XP Service body PRO. That's the service body that we now produce in-house. That was a key consideration of our merger. And then we also heard examples as well today in the call from Steffen. We see that the cross-selling is now also coming in, right? So that's the piece we expected last, the revenue synergies, the cross-selling synergies that takes its time, getting those new customers, so we are now a nationwide player. But it is coming in exactly as expected, and that's then the part that we expect to see really not just with the momentum and orders coming, but really with revenue and profitability in 2027 as the last piece of it. That's then the roughly $5 million or a big part of the $5 million for the 2027 final upside, how does that Shyft synergy -- merger synergies. David Joseph Storms: Understood. Very helpful. Maybe switching over to the guidance. I think it was pretty well laid out what could push you on the lower end of the guidance being the geopolitical uncertainty, tariffs, inflationary pressures. Just thinking about what you can control in-house, where do you see the greatest leverage points to maybe push you on the higher end of that guidance going into the last few quarters of the year? Barend Fruithof: Thank you very much for the question. So I mean, the tariffs at the end of the day, you cannot control. But with our resilient business model, which is based on a local-for-local model, I mean, we're not heavily impacted. So we are just indirectly impacted and our competitors as well. So there, we have some challenges because of our big backlog, and that leads then also a bit to a lower gross margin at the moment. And we are more impacted to be very honest by the Iran war because energy prices went up and that impacted some of our material costs. At the same time, we started to increase our prices. And as I mentioned in my presentation, that will kick in by the end of 2026 and then also beginning 2027. So we will see definitely then also an improvement on the gross margin longer term. Operator: This concludes the Q&A for today. And I will now hand the call back to Simone Grancini for closing remarks. Simone Grancini: Thank you, Sharon. I thank everyone for joining today's call and your interest in the Aebi Schmidt Group. As always, please reach out to [email protected] if you have any follow-up questions. And with that, Sharon, please disconnect the call. Operator: Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect. Before you buy stock in Aebi Schmidt Ag, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Aebi Schmidt Ag wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. 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Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Profitability grew over-proportionally relative to sales, driven by production ramp-ups, operational efficiencies, and accelerated realization of acquisition synergies. The group successfully integrated The Shyft Group operations, expanding the North American footprint and simplifying brand architecture within one year of the acquisition. North American growth was fueled by successful walk-in van backlog conversion and record service body production at Royal, which increased 20% over historical averages. European performance benefited from strong commercial execution in the airport segment and the successful launch of the new Aebi Terratrac in the agricultural business. Management attributed temporary gross margin pressure to unexpected supply chain disruptions and material cost inflation linked to geopolitical turmoil. Strategic cross-selling initiatives, such as placing LADOG vehicles into the airport segment, are expanding the addressable market and unlocking new organic growth channels. Management confirmed the 2030 ambition to reach $3 billion in annual sales with adjusted EBITDA margins exceeding 13% through organic growth and disciplined M&A. The synergy target for The Shyft Group acquisition was increased to over $40 million on an annual run rate, with $37 million expected by year-end 2026. Leverage targets for year-end 2026 were slightly adjusted to 2x or slightly above to accommodate temporary safety stock investments and supply chain protection. Recent sales price increases are expected to fully manifest in gross margin improvements by late 2026 and early 2027 as the current backlog is processed. Future M&A strategy will focus on reducing winter dependency in Europe, consolidating the commercial business, and expanding the sweeper portfolio in the U.S. Supply chain safety stocks were increased to mitigate risks of material cost inflation and potential disruptions from geopolitical uncertainty. The company maintains a cautious backlog accounting policy, excluding large frame contracts until specific purchase orders are received. Energy price volatility stemming from Middle East conflicts was cited as a primary driver of recent material cost pressure. The transition of Ford chassis production to Blue Bird is viewed as a positive stabilizer for the industry's critical chassis supply chain. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The contract is a 7-year agreement with revenue realization beginning in 2027, notably involving a customer outside the major parcel delivery segment. Management clarified that this $96 million is not yet in the $1.3 billion backlog, as they only book orders upon receipt of specific purchase orders. Management views the Ford-Blue Bird partnership positively as it stabilizes supply and mitigates risks associated with EPA 27 certification. They noted a trend of some clients moving toward FCCC chassis and intend to monitor the competitive landscape as new designs launch in 2028. The 400 basis point margin expansion target is expected to be largely linear, driven by a combination of footprint optimization and aftersales growth. Synergies are entering a new phase focused on in-house production of service bodies and nationwide cross-selling benefits. The slight shift in the 2026 leverage target is due to intentional, temporary investments in inventory to lock in material costs and avoid inflation. Despite these investments, the working capital-to-sales ratio improved from 25% to 23% year-over-year, with a 20% target set for the midterm.

Interested in Aebi Schmidt Holding AG? Here are five stocks we like better. Strong Q2 performance: Orders increased 16% year over year to €516 million, backlog rose nearly 20% to about €1.3 billion, and organic sales grew 9.4% to €496 million. Adjusted EBITDA climbed 22% to €42 million, lifting the margin to 8.5%. North America and Europe delivered broad-based growth: North American sales rose 11%, supported by walk-in vans, airport operations and Royal production, while Europe and Rest of World reported 7% sales growth and a 25% increase in adjusted EBITDA. A new seven-year, $96 million U.S. frame agreement is expected to begin generating revenue in 2027. Synergies are rising while guidance is maintained: Aebi Schmidt increased its annual synergy target to more than $40 million and expects €37 million in synergies by the end of 2026. Despite tariff, supply-chain and material-cost pressures, the company reaffirmed its 2026 sales and adjusted EBITDA guidance, while leverage declined to 2.7 times. Aebi Schmidt (NASDAQ:AEBI) reported higher second-quarter sales, orders and profitability, citing stronger backlog conversion, operational efficiency gains and progress on integration synergies following its acquisition of The Shyft Group. Group order intake increased 16% year over year to EUR 516 million, while order backlog rose nearly 20% to approximately EUR 1.3 billion. Net sales increased 9.4% organically to EUR 496 million. Adjusted EBITDA rose 22% to EUR 42 million, and the adjusted EBITDA margin expanded about 90 basis points to 8.5%. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Chairman and Group CEO Barend Fruithof said net income increased by EUR 18 million from the prior-year quarter. “Profitability increased over proportionally compared to sales,” he said, attributing the improvement to production ramp-ups, operating efficiencies, accelerated acquisition synergies and cost controls. North America delivered 11% sales growth during the quarter, with demand and backlog conversion in walk-in vans contributing to the increase, according to CEO of North America Steffen Schewerda. The segment’s backlog increased about 27% year over year, while adjusted EBITDA rose approximately 22%. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Schewerda said the business benefited from completed production ramp-ups, stronger airport operations, and a record quarter at Royal, where service-body production increased more than 20% above historical averages. The company also completed its Joliet production ramp-up, with customer deliveries proceeding as planned, and began commercial upfitting operations at its Iowa site. Municipal operations are expected to follow at that location. During the quarter, Aebi Schmidt secured a seven-year, $96 million frame agreement with a strategic U.S. customer for walk-in vans and cargo vans. Schewerda said the agreement marked an expansion of the company’s offering with that customer, which has been a partner for more than two decades. → On Holding's Price Stumble May Be an Opening for a Company Built to Run However, management said the agreement was not included in reported backlog because the company generally books frame contracts only after receiving purchase orders. The first revenue from the contract is expected in 2027. Fruithof also addressed changes in the walk-in-van chassis market, saying the planned transition of Ford chassis production to Blue Bird was viewed positively because it could stabilize supply and reduce risks associated with emissions certification requirements. He said some customers have shifted toward FCCC chassis, while Aebi Schmidt continues to monitor the planned introduction of a new chassis in 2028. Europe and Rest of World reported approximately 20% growth in order intake, 7% sales growth and a 25% increase in adjusted EBITDA. CEO Henning Schröder said results reflected demand across Southern and Central Europe, contract wins, higher gross margins, aftermarket performance and disciplined spending. The company said a major U.K. airport group selected Aebi Schmidt as its preferred supplier of winter-maintenance and airfield-sweeping equipment. It also cross-sold Ladog vehicles into the airport market. In municipal operations, the company secured an EUR 11 million German motorway contract. Schröder said the launch of the new Aebi Terratrac agricultural vehicle generated strong customer interest, while demand continued to grow for electrified municipal vehicles. Management highlighted further progress in combining Aebi Schmidt and The Shyft Group. Fruithof said that, comparing the 12 months before and after the acquisition, order intake increased 26%, adjusted EBITDA grew 22%, and EBITDA margin improved by approximately 120 basis points. The company increased its annual synergy target to more than $40 million on a run-rate basis. CFO Marco Portmann said Aebi Schmidt expects to realize EUR 37 million in synergies by the end of 2026, with roughly EUR 5 million more expected in 2027. He said remaining gains would include benefits from in-house production of the ServicePRO XP service body and cross-selling opportunities across the combined organization. Net working capital was EUR 449 million at quarter-end, improving from a year earlier despite sales growth. Portmann said working capital as a percentage of net sales declined to 23% from 25% a year earlier, with a medium-term objective of about 20%. Net debt stood at EUR 450 million, down EUR 5 million from the end of March, while leverage declined to 2.7 times. The company slightly revised its year-end leverage expectation to approximately 2 times or slightly above, from a previous target of 2 times or slightly below. Portmann said temporary investments in safety stock and larger purchasing batches are expected to affect working capital through year-end and into the first quarter of 2027. The measures are intended to address supply-chain risks and material-cost inflation. Aebi Schmidt confirmed its full-year 2026 guidance for net sales and adjusted EBITDA, though management did not restate the numerical targets during the call. The company said geopolitical uncertainty, tariff discussions, supply-chain disruptions and higher material costs have created temporary pressure on gross margins. Portmann said recent selling-price increases should support margins, though their effect will be delayed because of the company’s sizable backlog. Fruithof said price increases are expected to have a greater effect by the end of 2026 and into early 2027. He added that the company’s local operating model limits direct tariff exposure, although it remains indirectly affected by cost pressures, including higher energy-related material costs. Looking further ahead, Aebi Schmidt reiterated its ambition to exceed EUR 3 billion in annual revenue and achieve an adjusted EBITDA margin above 13% by 2030, supported by organic growth, market recovery, acquisitions, synergies, pricing, product mix and further operational improvements. Aebi Schmidt is a Swiss-based company that designs, manufactures and services specialized equipment for municipal and commercial surface maintenance. The company’s offerings focus on machines and attachment systems used for snow-clearing, street sweeping, vegetation management, and related upkeep of roads, paths and public spaces. Aebi Schmidt supplies complete vehicle systems as well as modular implements that can be mounted on carriers for year‑round use. Product lines typically include multi‑purpose maintenance vehicles, snowplows and salt spreaders, street sweepers, mowers and verge management tools, plus a range of hydraulic attachments and consumable parts. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Aebi Schmidt Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Aebi Schmidt Holding AG (AEBI) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to a loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.69%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.01, delivering a surprise of -50%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Aebi Schmidt Holding AG, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $496.41 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.98%. This compares to year-ago revenues of $277.74 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Aebi Schmidt Holding AG shares have added about 2.7% since the beginning of the year versus the S&P 500's gain of 13.2%. While Aebi Schmidt Holding AG has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Aebi Schmidt Holding AG was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.22 on $520.7 million in revenues for the coming quarter and $0.68 on $2.03 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, VinFast Auto Ltd. (VFS), has yet to report results for the quarter ended June 2026. This company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +25.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. VinFast Auto Ltd.'s revenues are expected to be $1.25 billion, up 88.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Aebi Schmidt Holding AG (AEBI) : Free Stock Analysis Report VinFast Auto Ltd. (VFS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Aebi Schmidt Holding AG (AEBI) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 13. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +316.7%. Revenues are expected to be $468.4 million, up 68.7% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 15.79% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Aebi Schmidt Holding AG, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +26.31%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination indicates that Aebi Schmidt Holding AG will most likely beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Aebi Schmidt Holding AG would post earnings of $0.02 per share when it actually produced earnings of $0.01, delivering a surprise of -50.00%. The company has not been able to beat consensus EPS estimates in any of the last four quarters. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Aebi Schmidt Holding AG appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Aebi Schmidt Holding AG (AEBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Blue Bird (BLBD) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.92%. A quarter ago, it was expected that this school bus maker would post earnings of $0.81 per share when it actually produced earnings of $1, delivering a surprise of +23.46%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Blue Bird, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $517.16 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.70%. This compares to year-ago revenues of $398.01 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Blue Bird shares have added about 65.6% since the beginning of the year versus the S&P 500's gain of 13%. While Blue Bird has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Blue Bird was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.61 on $560.4 million in revenues for the coming quarter and $4.74 on $1.74 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Aebi Schmidt Holding AG (AEBI), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +316.7%. The consensus EPS estimate for the quarter has been revised 15.8% higher over the last 30 days to the current level. Aebi Schmidt Holding AG's revenues are expected to be $468.4 million, up 68.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Blue Bird Corporation (BLBD) : Free Stock Analysis Report Aebi Schmidt Holding AG (AEBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Paccar (PCAR) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.52%. A quarter ago, it was expected that this truck maker would post earnings of $1.13 per share when it actually produced earnings of $1.15, delivering a surprise of +1.77%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Paccar, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $7 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.49%. This compares to year-ago revenues of $6.96 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Paccar shares have added about 21.9% since the beginning of the year versus the S&P 500's gain of 8.3%. While Paccar has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Paccar was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.52 on $7.14 billion in revenues for the coming quarter and $5.66 on $27.98 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Aebi Schmidt Holding AG (AEBI), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +316.7%. The consensus EPS estimate for the quarter has been revised 15.8% higher over the last 30 days to the current level. Aebi Schmidt Holding AG's revenues are expected to be $468.4 million, up 68.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PACCAR Inc. (PCAR) : Free Stock Analysis Report Aebi Schmidt Holding AG (AEBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The market was pleased with the recent earnings report from Aebi Schmidt Holding AG (NASDAQ:AEBI), despite the profit numbers being soft. Our analysis suggests that investors may have noticed some promising signs beyond the statutory profit figures. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. For anyone who wants to understand Aebi Schmidt Holding's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit was reduced by US$20m due to unusual items. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And, after all, that's exactly what the accounting terminology implies. Assuming those unusual expenses don't come up again, we'd therefore expect Aebi Schmidt Holding to produce a higher profit next year, all else being equal. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Because unusual items detracted from Aebi Schmidt Holding's earnings over the last year, you could argue that we can expect an improved result in the current quarter. Based on this observation, we consider it likely that Aebi Schmidt Holding's statutory profit actually understates its earnings potential! On the other hand, its EPS actually shrunk in the last twelve months. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. When we did our research, we found 3 warning signs for Aebi Schmidt Holding (1 is significant!) that we believe deserve your full attention. This note has only looked at a single factor that sheds light on the nature of Aebi Schmidt Holding's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.