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 manufactures highly configurable and custom HVAC equipment for commercial, industrial and data center indoor environments. Company updates commonly cover AAON- and BASX-branded systems, including rooftop units, chillers, air-handling units, energy-recovery units, coils, control solutions and related parts.
Recurring news themes include quarterly operating results, backlog and bookings trends, production capacity and utilization, data center equipment demand, dividends and capital actions. Product announcements also include energy-efficient HVAC technologies such as the Alpha Class EXTREME SERIES packaged rooftop unit and simultaneous dual fuel capability.
AAON, Inc. (NASDAQ: AAON) has won a Gold award in the HVAC Light Commercial Equipment category at the 19th Annual Dealer Design Awards. The award recognizes the RQ/RN Series Zero Degree Cold Climate Air-Source Heat Pump, highlighting the company's commitment to innovation in HVAC design. The awards featured 132 entries, judged by an independent panel of contractors. This recognition underscores AAON's role in meeting the demand for building decarbonization in cold climates, with products designed for efficiency in temperatures as low as 0°F.
AAON announced the appointment of Xerxes Gazder as Chief Information Officer, effective July 18, 2022. Gazder brings nearly 30 years of leadership experience in various industries, including manufacturing and healthcare. He holds a Bachelor’s in Mathematics and a Master’s in Computer Science. Former CIO Rony Gadiwalla will assist in the transition until August 12, 2022. CEO Gary D. Fields praised Gadiwalla for his contributions over 17 years. AAON specializes in manufacturing HVAC systems and has been committed to delivering high-performance heating and cooling products since its founding in 1988.
On July 11, 2022, AAON, Inc. (NASDAQ: AAON) announced participation in the CJS Securities "New Ideas" Conference, featuring presentations from key executives including Gary Fields, President and CEO. The event will take place on July 12, 2022, at 1:00 PM (ET) in Greenwich, Connecticut. Presentation materials are accessible on the AAON website. Established in 1988, AAON specializes in engineering, manufacturing, and selling various heating and cooling equipment, maintaining a strong commitment to quality and innovation.
AAON, a leader in heating and cooling equipment, declared a semi-annual cash dividend of $0.19 per share, totaling $0.38 annually. The payment is set for July 1, 2022, to shareholders on record as of June 3, 2022. Additionally, the company promoted Casey R. Kidwell to Vice President of Administration, effective May 12, 2022, shifting towards modernized governance as it appointed A.H. McElroy II as Independent Chairman and Caron Lawhorn as Independent Vice Chair following retirements in the board.
AAON reported strong Q1 2022 results, with net sales increasing 57.8% to $182.8 million. This growth was driven by 21.3% organic volume growth and an 18.1% contribution from the acquisition of BasX Solutions. However, gross profit margin declined to 25.2% from 28.6% due to rising material costs, while SG&A costs rose 56.9%. Despite challenges, diluted EPS increased 10.0% to $0.33. The company ended the quarter with a record backlog of $461.4 million, marking a 377.0% year-over-year increase.
AAON, Inc. announced that Norman H. Asbjornson will retire as Executive Chairman on May 12, 2022, after nearly 34 years of service but will remain on the Board of Directors and assist in a consulting role until May 2024. CEO Gary Fields highlighted the planned succession and expressed confidence in the company’s strategic objectives moving forward. Asbjornson praised AAON's achievements and expressed confidence in the company’s future under the leadership of Fields.
AAON has announced its quarterly conference call scheduled for May 5, 2022, at 5:15 p.m. Eastern. This call will discuss the first quarter 2022 financial results, which will be released after the market closes on the same day. Participants can join via a dial-in or a listen-only webcast by registering online. A replay will be available the following business day on the company's website.
Founded in 1988, AAON specializes in manufacturing energy-efficient HVAC products for nonresidential buildings.
On April 13, 2022, AAON (NASDAQ: AAON) announced that CFO Rebecca Thompson has been honored with the 2022 STEP Ahead Award by the Manufacturing Institute. This award recognizes women demonstrating leadership in manufacturing. Thompson expressed gratitude for AAON's support of women leaders and emphasized the importance of mentorship. The STEP Ahead initiative aims to close the gender gap in manufacturing by empowering women and fostering a skilled workforce. The award ceremony will take place on April 28 in Washington, D.C.
AAON, Inc. announced the retirement of Paul K. Lackey, Jr. from its Board of Directors, effective at the Annual Meeting on May 12, 2022. Lackey, who has served since 2007, will not seek re-election to reduce his professional commitments. CEO Gary D. Fields expressed gratitude for Lackey's invaluable contributions over nearly 15 years. AAON, founded in 1988, specializes in manufacturing premium air conditioning and heating equipment.
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.