Record Q2 Revenue of $456M Drives NACG to Raise 2026 Guidance
NOA sits 28% above its 52-week low of $12.07.
Summary
NACG posted record Q2 revenue of $456.1M and raised its 2026 revenue guidance midpoint to $1.7B, while adjusted EBITDA grew 17% and free cash flow turned positive.
Key Events · Earnings and Guidance · NOA
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Record Q2 Revenue
Combined revenue reached $456.1 million, up 23% year-over-year, driven by the IMC acquisition and 15% organic growth in Australia.
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Adjusted EBITDA Growth
Adjusted EBITDA rose 17% to $93.5 million, with IMC contributing $13.1 million; margin was 20.5% versus 21.6% a year ago.
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Free Cash Flow Turnaround
Free cash flow was a $23.0 million inflow, improving $23.4 million from the prior-year quarter's slight outflow.
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Raised 2026 Guidance
Full-year combined revenue guidance midpoint raised to $1.7 billion from $1.6 billion; adjusted EBITDA and free cash flow guidance unchanged.
Analysis · NOA · Energy & Transportation
The quarter's standout performance was record revenue of $456.1 million, a 23% year-over-year increase fueled by the IMC acquisition and organic growth in Australia. Adjusted EBITDA climbed 17% to $93.5 million, and free cash flow swung to a $23.0 million inflow from a slight outflow a year ago. Management's decision to raise the full-year combined revenue midpoint to $1.7 billion signals confidence in second-half execution. Net income dipped 9% due to higher acquisition and integration costs plus increased interest expense, but the operational momentum and guidance raise are the dominant story.
At the time of this filing, NOA was trading at $15.39 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $427.9M. The 52-week trading range was $12.07 to $17.26. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.