Forgent Power Solutions (NYSE:FPS) reported explosive growth for its fiscal second quarter ended December 31, 2025, as the recently public company capitalizes on the massive infrastructure buildout required for artificial intelligence and grid modernization.
The Dayton, Minnesota-based manufacturer saw revenues jump 69% year-over-year to $296 million, fueled by its specialized "engineered-to-order" electrical distribution equipment.
The company’s forward-looking metrics were even more robust, with bookings skyrocketing 268% to $762 million.
This surge in new orders pushed Forgent’s total backlog to a record $1.5 billion, representing a 100% increase from the prior year.
The book-to-bill ratio, a key indicator of future demand, rose to 2.6x, suggesting that the company is currently receiving orders at more than twice the rate it is billing them.
On the bottom line, Forgent reported a marginal net loss of $0.1 million, a significant improvement from the $6.6 million loss in the same period last year.
The results were impacted by a $10 million one-time write-off of deferred financing costs related to a term loan refinancing.
On an adjusted basis, the company demonstrated strong profitability, with adjusted net income rising 66% to $36 million and adjusted EBITDA growing 51% to $60 million.
Looking ahead, the company issued aggressive guidance for the full fiscal year 2026, forecasting revenues between $1.275 billion and $1.325 billion—representing 73% growth at the midpoint.
Adjusted EBITDA is expected to reach up to $310 million as the company expands its manufacturing footprint across its 10 North American campuses.