Aaon Inc Stock Price, News & Analysis

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.

AAON, a prominent manufacturer of heating and cooling products, announced that its RZ Series Rooftop Unit has been recognized as the 2021 Commercial Comfort Product of the Year in the Rooftop Units category by a panel of independent engineers from Engineered Systems magazine. The RZ Series, designed for efficiency and customization, features variable-speed compressors and a range of premium options for various applications. CEO Gary Fields emphasized that this accolade reflects the dedication of AAON's employees and is a product of ongoing innovation at the Norman Asbjornson Innovation Center.

AAON reported strong second-quarter results for 2021, with net sales reaching $143.9 million, a 14.6% increase year-over-year, driven by robust replacement demand in the nonresidential sector. Gross profit was $42.1 million, up 10.4%, but gross profit margin decreased to 29.3%. Net income rose 15.8% to $20.6 million, translating to earnings per share of $0.38. The company ended the quarter with a backlog of $138.1 million, up 33.4% from the previous year. AAON maintains no debt, with cash reserves increasing to $112.1 million. The company is optimistic about sustained growth in the second half of 2021.

AAON, Inc. (NASDAQ: AAON) achieved Platinum level in the 2021 Sustainable Tulsa Scor3card verification program, maintaining its previous year's status. To secure Platinum, over 85% of eligible directives must be completed, focusing on areas like inclusion, diversity, and energy management. Notably, AAON increased recycling rates by 19% and reduced building energy usage intensity by 4% in 2020. The company emphasizes ESG in its business strategy, highlighting its commitment to sustainability and operational efficiency.

AAON, Inc. (NASDAQ: AAON) will hold a conference call on August 6, 2021, at 9:00 a.m. ET to discuss its second-quarter performance for the period ending June 30, 2021, along with recent events and future outlook. The earnings release will be issued after market close on August 5, 2021. Participants can attend the call by dialing 1-888-241-0551 with Pass Code 6788945. A rebroadcast will be available until August 13, 2021, at 1-855-859-2056. For more details, visit AAON's website.

AAON, a leading manufacturer of HVAC equipment, announced a 5% price increase on all products effective September 1, 2021, due to inflationary pressures. This adjustment reflects the company's ongoing commitment to maintaining product quality while addressing rising costs. Established in 1988, AAON specializes in a range of heating and cooling solutions, including rooftop units and geothermal heat pumps. For further details, visit www.AAON.com.

AAON announced its participation in the 14th Annual Wolfe Research Global Transportation & Industrials Conference, scheduled for May 26, 2021, at 9:10 a.m. EDT. President and CEO Gary Fields, along with CFO Rebecca Thompson, will represent the company. A live webcast of the event will be accessible via the provided link. Established in 1988, AAON specializes in the engineering, manufacturing, and marketing of a diverse range of heating and cooling equipment, including rooftop units, chillers, and geothermal heat pumps, committed to exceeding customer expectations.

AAON has declared a cash dividend of $0.19 per share, payable on July 1, 2021, to stockholders on record as of June 3, 2021, reflecting a $0.38 annual dividend.

Additionally, AAON announced the promotion of Christopher D. Eason to Chief Accounting Officer, effective May 11, 2021. Eason's background includes his previous role at Grant Thornton and extensive accounting experience.