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, 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.
AAON, Inc. (NASDAQ: AAON) announced that its RZ Series Rooftop Unit has received the 2021 Product of the Year - Gold award from the readers of Consulting-Specifying Engineer. The RZ Series units, ranging from 45 to 261 tons, are designed for efficiency and ease of installation, featuring high part load energy efficiencies of up to 22.5 IEER and components like variable speed compressors. CEO Gary Fields expressed pride in this recognition, which underscores the commitment to high-quality HVAC solutions.
AAON, Inc. (NASDAQ: AAON) will host a conference call on November 4, 2021, at 5:30 p.m. ET to discuss its third quarter earnings, covering performance for the period ended September 30, 2021. The call aims to address recent events and the future outlook. Interested participants can call 1-888-241-0551 (U.S. toll-free) with pass code 2466188. A rebroadcast will be available until November 11, 2021.
AAON specializes in manufacturing air conditioning and heating equipment, ensuring high-quality performance since its inception in 1988.
Summary not available.
On October 1, 2021, AAON appointed Bruce Ware and David Stewart as independent directors, expanding its Board from seven to nine members. Bruce Ware, a Vice President at DaVita, brings extensive executive experience, including roles in healthcare and finance. David Stewart, with over 40 years of professional experience, is a Chief Administrative Officer and Trustee at the Oklahoma Ordnance Works Authority. Both will serve on the Audit Committee, and leadership expresses optimism about their contributions, highlighting their strong professional backgrounds as enhancing the Board's capabilities.
AAON, Inc. recently hosted students from local high schools in Tulsa, Oklahoma, to celebrate MFG Day 2021. This initiative aims to promote modern manufacturing and the career opportunities it offers.
The event forms part of a national celebration where manufacturers engage with students and communities, showcasing the industry's innovation and addressing skill gaps. Stephanie Regan, Corporate Citizenship Manager, expressed hopes that students would gain insight into diverse career paths available in their communities.