Madison Air Reports Second Quarter 2026 Results

* Backlog of $2,868.4 million up 133% year-over-year and orders up 45% on a combined basis*** * Net sales of $991.3 million, up 21%, including up 14% on a pro forma basis** * Net income of $70.5 million, up 129%, with net income margin of 7% and adjusted net income* of $147.7 million, up 71% * Adjusted EBITDA* of $265.8 million, up 18%, with adjusted EBITDA margin* of 27% * Cash flow from operations - continuing operations of $98.6 million and free cash flow* of $89.6 million * Ended 2Q with 2.8x net leverage*, down ~0.2x from immediately following the IPO *This news release contains non-GAAP financial measures. Definitions and reconciliations of the non-GAAP financial measures can be found under "Selected Financial Data, Non-GAAP Measures and Definitions." **Financial information presented on a Pro Forma basis solely to give effect to the AprilAire Acquisition as if such transaction had occurred on January 1, 2025, and for net leverage to give effect to the IPO and debt prepayment. See the unaudited pro forma combined statements of operations filed as Exhibit 99.1 to our Quarterly Report on Form 10-Q for a description of the adjustments and assumptions underlying the Pro Forma financial information ***For the six months ended June 30, 2025, certain results are presented on a "combined basis" as the sum of the amounts for the Company for such period and the amounts for AprilAire for the period From January 1, 2025 through May 6, 2025 (acquisition date),, without any other adjustments. This presentation does not comply with GAAP or SEC rules for pro forma presentation.