INNIO posts $2.3 billion Q2 orders after 1.1 GW data center deal

The newly listed energy equipment company reported a record $6.6 billion backlog, including a landmark U.S. data center gas-engine order, and initiated 2026 guidance for $3.8 billion to $3.9 billion in revenue.

Summary

INNIO N.V. reported second-quarter 2026 equipment order intake of $2.3 billion, up 316% year over year, and said a landmark 1.1-gigawatt order for a U.S. data center operator helped lift equipment backlog to a record $6.6 billion. The company said the deal, one of the largest in its history, covers more than 200 Jenbacher J624 gas engines for behind-the-meter prime power across the United States, with phased deliveries expected to support multi-year revenue visibility. Total quarterly revenue rose 42% to $937.7 million, while one-off IPO and public-market readiness costs of $81.2 million contributed to a net loss of $16.9 million versus net income of $62.4 million a year earlier. Adjusted EBITDA rose 20% to $172.3 million. INNIO, which completed its IPO on June 5, 2026, initiated full-year 2026 guidance for $3.8 billion to $3.9 billion in revenue and $720 million to $740 million in Adjusted EBITDA, citing strong demand from data centers, power solutions and compression.

Terms & Concepts
  • Equipment Order Backlog: Booked equipment orders not yet fulfilled toward the customer, measured at the end of a period.
  • behind-the-meter: On-site power generated behind a customer's grid connection rather than drawn solely from the grid.
  • Adjusted EBITDA: Profit measure excluding certain costs and non-cash items, with further company adjustments.