INNIO Sets New Records with Third Quarter 2026 Performance
INNIO, a leading provider of power solutions, has achieved remarkable success in its third quarter of 2026, exceeding $1 billion in quarterly revenue for the first time. The company's teams have demonstrated great discipline and efficiency in driving growth while improving productivity across the business.
According to Olaf Berlien, CEO of INNIO, the market environment remains highly supportive, with a strong order momentum that reflects long-term customer demand. As AI and data center expansion accelerate, the need for power continues to grow, positioning INNIO well to capture this opportunity with reliable, flexible, and sustainable power solutions.
The company's key highlights from the quarter include record revenue, which grew by 57% year-over-year. Adjusted EBITDA also grew faster than revenue, rising by 70% year-over-year, driven by increased operating leverage. Additionally, equipment revenue grew 86%, reflecting strong backlog conversion with no delays or cancellations.
INNIO's order momentum is impressive, with $8 billion in equipment order backlog, up 142% year-over-year. The company's last 12-month book-to-bill ratio stands at 3.3 times, indicating excellent revenue visibility. Building on this performance, INNIO has raised its full-year Adjusted EBITDA guidance by $60 million at the midpoint to between $780 million and $800 million.
The company secured three major order milestones that reinforce its momentum. A leading data center developer placed a 620-megawatt follow-on order, while INNIO also entered into a long-term service agreement covering the first 500 megawatts of previously ordered capacity. Additionally, the company secured a 450-megawatt order from Liberty Energy to provide behind-the-meter power for large-scale data center projects in North America.
These achievements demonstrate INNIO's ability to execute on its strategy and capitalize on market opportunities. As the demand for power continues to grow, particularly in the AI and data center sectors, INNIO is well-positioned to capture this growth and drive long-term success.
