Welcome to our dedicated page for Aaon news (Ticker: AAON), a resource for investors and traders seeking the latest updates and insights on Aaon stock.
AAON, Inc. (NASDAQ: AAON) is a manufacturing company focused on high-performance, energy-efficient HVAC solutions for commercial, industrial and data center indoor environments. Founded in 1988 and headquartered in Tulsa, Oklahoma, the company communicates regularly with investors and customers through news releases covering its operations, technology and capital decisions.
The AAON news feed features updates on quarterly financial results, including segment performance for AAON Oklahoma, AAON Coil Products and BASX, as well as information on bookings, backlog and margins. These releases often discuss demand trends for AAON- and BASX-branded equipment, with particular emphasis on data center applications and national account activity.
Visitors can also expect corporate and governance news, such as leadership appointments and promotions, including roles overseeing the AAON business unit and operations across multiple U.S. manufacturing facilities. Announcements about participation in investor conferences and related presentations are disclosed, providing additional context on the company’s strategy and outlook.
Another recurring topic in AAON news is capital allocation and financing. The company issues press releases on regular quarterly cash dividends authorized by its Board of Directors, as well as updates on its revolving credit facility and the exercise of an accordion feature to increase borrowing capacity. These items illustrate how AAON funds growth initiatives and returns capital to shareholders.
Product and technology developments also appear in the news stream, including information on AAON’s Alpha Class air-source heat pumps and participation in the U.S. Department of Energy’s Commercial Building HVAC Technology Challenge. For investors and industry followers, the AAON news page offers a centralized view of financial performance, operational updates, leadership changes and HVAC technology milestones.
AAON, a leading manufacturer of energy-efficient HVAC systems, announced that President and CEO Gary Fields and CFO Rebecca Thompson will participate in the Sidoti & Company Small Cap Virtual Conference on March 24, 2022, at 11:30 a.m. ET. The live webcast will be available on the AAON website, with an archive accessible post-event. Since its founding in 1988, AAON has specialized in the engineering, manufacturing, and sale of HVAC equipment, emphasizing superior performance and customer satisfaction.
AAON, a leader in HVAC solutions, announced participation in the J.P. Morgan Industrials Conference on March 17, 2022, at 2:10 p.m. ET. President Gary Fields, CFO Rebecca Thompson, and Matt Tobolski from BasX Solutions will represent the company. The event will be streamed live on the AAON website, with a recording available for 30 days post-event. Founded in 1988, AAON specializes in manufacturing energy-efficient heating and cooling equipment for nonresidential buildings, ensuring high performance and customer satisfaction.
AAON, a leader in HVAC products, reported a Q4 2021 revenue of $136.3 million, reflecting a 16.8% increase year-over-year. Despite this growth, gross profit fell 21.7% to $26.5 million, primarily due to supply chain issues and inflationary pressures, resulting in a net income of $6.2 million or $0.11 per share, down 68.6%. The company’s backlog surged 249.6% year-over-year to $260.2 million. The CFO indicated a strong financial position, while the CEO expressed optimism for recovery in production and margins in 2022.
AAON, a leader in HVAC products, will host its quarterly conference call on February 28, 2022, at 5:15 p.m. to discuss fourth quarter 2021 financial results. The results will be released after market close the same day.
Investors can participate via a Q&A dial-in or a listen-only webcast by registering at this link. A replay will be available the following business day on AAON's website.
AAON, Inc. announced the election of Gene Stewart as Executive Vice President and Doug Wichman as Executive Vice President of AAON Coil Products, effective January 1, 2022. Stewart previously served as President of AAON Coil Products and has extensive industry experience, while Wichman, with the company since 2013, was most recently Director of Manufacturing. CEO Gary D. Fields emphasized these promotions align with succession planning and acknowledge their contributions to the company's success.
AAON, Inc. (NASDAQ: AAON) has successfully acquired BasX Solutions for a total of up to $180 million, finalized on December 10, 2021. The upfront payment of $100 million was primarily funded by cash reserves, while additional payment associated with performance milestones could reach $80 million. AAON also plans to acquire real estate related to BasX for $22 million. This acquisition provides AAON access to the high-growth data center and cleanroom markets, which are projected to enhance revenue and profitability, with BasX expected to generate approximately $70 million in revenue in 2021.
AAON, a leader in premium HVAC products, announced that CEO Gary Fields and CFO Rebecca Thompson will participate in a virtual fireside chat at the Credit Suisse Global Industrials Conference on December 2, 2021, at 8:50 a.m. ET. The event will be available via live webcast and can also be accessed later for replay. AAON specializes in manufacturing highly energy-efficient heating and cooling equipment, established in 1988. For more information, visit www.AAON.com.
AAON, Inc. has announced its acquisition of BasX, LLC for $100 million, with potential earn-out payments of up to $80 million. BasX specializes in high-efficiency cooling solutions for data centers and cleanroom environments, projecting revenue of approximately $70 million in 2021. This acquisition aims to enhance AAON's market presence in high-growth sectors and is anticipated to be accretive to earnings immediately, excluding acquisition-related costs. Additionally, the acquisition is expected to generate significant revenue and cost synergies while maintaining BasX's management team for continuity.
AAON, Inc. has declared a semi-annual cash dividend of $0.19 per share, totaling $0.38 annually. This dividend is scheduled for payment on December 17, 2021, to stockholders who are on record as of November 26, 2021. The company specializes in manufacturing heating and cooling equipment and has been operational since 1988. AAON emphasizes innovation and customer satisfaction in its product offerings.
AAON, Inc. reported its third-quarter 2021 financial results, highlighting a 2.8% increase in net sales to $138.6 million, driven by higher prices and a favorable product mix. However, gross profit decreased by 11.8% to $36 million, reflecting rising material costs and labor shortages. Net income fell 23.8% to $15.6 million. The company has a backlog of $181.8 million, up 114% year-over-year, indicating strong demand. Despite challenges, management remains optimistic, implementing price increases and tackling labor issues, aiming for improved production in the fourth quarter.