0001048268-26-000086
SEC filingStrong quarter driven by data center demand and acquisitions, with revenue up 16.8% and net income surging 52.0%, though residential headwinds persist.
Revenue for the second quarter of fiscal 2026 was $974.3 million, a 16.8% increase compared to $834.0 million in the same period last year. The growth was primarily driven by continued strong demand in the data center end market and successful execution of backlog, as well as expansion of operations in the Midwest market. Demand in the distribution center market also continued to grow, contributing to the overall revenue increase.
Consumer demand in the single-family housing market was impacted by housing affordability challenges, availability and cost of insurance, and overall economic uncertainty, leading to a decline in construction volumes and pressure on pricing. However, multi-family backlog recently began to increase, which management expects will benefit the company in fiscal 2027.
Entering the second half of fiscal 2026, the company has significantly expanded its backlog, driven by strong demand in data center and distribution center markets. This backlog growth provides visibility into future revenue and supports the company's positive outlook.