$30 Million Share Repurchase Authorization

Rhea-AI Summary

AAON (NASDAQ: AAON) has announced that its Board of Directors has approved a $30.0 million share repurchase authorization as part of its previously disclosed $100 million share repurchase program. The company will execute these repurchases through pre-arranged stock repurchase plans following Rule 10b-18 of the Securities Exchange Act of 1934.

The actual implementation details, including timing, number of shares, and value of repurchases, will be determined based on various market factors such as share price, trading volume, and market conditions.

Positive

• $30M share buyback authorization approved
• Part of larger $100M repurchase program
• Potential positive impact on EPS through share count reduction

Negative

• Reduced cash availability for operations or investments
• Market-dependent execution may affect buyback effectiveness

TULSA, Okla., March 4, 2025 /PRNewswire/ -- AAON, Inc. (NASDAQ:  AAON) ("AAON" or the "Company"), today announced that its Board of Directors has approved $30.0 million of share repurchases pursuant to the previously disclosed $100 million share repurchase program. Repurchases will be made in accordance with one or more pre-arranged stock repurchase plans adopted by the Company pursuant to the guidelines specified under Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The actual timing, number and value of shares repurchased will depend on market conditions, share price, trading volume, and other factors.

About AAON, Inc.
Founded in 1988, AAON is a leader in HVAC solutions for commercial and industrial indoor environments. The company's industry-leading approach to designing and manufacturing highly configurable equipment to meet exact needs creates a premier ownership experience with greater efficiency, performance, and long-term value.  AAON is headquartered in Tulsa, Oklahoma, where its world-class innovation center and testing capabilities enable continuous advancement toward a cleaner and more sustainable future. For more information or to locate an AAON representative, visit www.aaon.com.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "should", "will", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligations to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Important factors that could cause results to differ materially from those in the forward-looking statements include (1) the timing and extent of changes in raw material and component prices, (2) the effects of fluctuations in the commercial/industrial new construction market, (3) the timing and extent of changes in interest rates, as well as other competitive factors during the year, and (4) general economic, market or business conditions.

Contact Information
Joseph Mondillo
Director of Investor Relations
Phone (617) 877-6346
Email: joseph.mondillo@aaon.com

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SOURCE AAON

FAQ

How much is AAON's new share repurchase authorization worth?

AAON's Board approved a $30.0 million share repurchase authorization as part of their $100 million repurchase program.

When will AAON begin its $30 million share repurchase program?

The exact timing depends on market conditions, share price, and trading volume, following Rule 10b-18 guidelines.

What factors will determine AAON's share repurchase execution?

Market conditions, share price, trading volume, and other market factors will determine the timing, number, and value of shares repurchased.

What is the total size of AAON's share repurchase program?

The total share repurchase program is $100 million, with $30 million now authorized for implementation.

Under what regulatory framework will AAON conduct its share repurchases?

Repurchases will follow Rule 10b-18 of the Securities Exchange Act of 1934 through pre-arranged stock repurchase plans.