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 reported a record net sales of $134.8 million for Q3 2020, up 18.7% from Q3 2019. Gross profit rose 49.0% to $40.8 million, with margins increasing to 30.3%. Net income reached $20.5 million, a 43.2% increase year-over-year. Despite these positive results, the company acknowledged challenges such as a 40.5% decline in backlog and rising costs of raw materials. The outlook for 2021 remains uncertain due to a potential decline in construction activity, but AAON is poised to leverage its position in the replacement market.
AAON, Inc. (NASDAQ: AAON) will hold a conference call on November 5, 2020, at 4:15 p.m. ET to discuss its third quarter performance for the period ending September 30, 2020. The call will include a presentation by management followed by a Q&A session lasting approximately 45 minutes. Participants can join by calling 1-833-634-8218 in the U.S. with the passcode 1233199. A rebroadcast will be available until November 12, 2020. AAON specializes in manufacturing air conditioning and heating equipment, providing various HVAC solutions since its inception in 1988.
AAON, Inc. (NASDAQ: AAON) announces that President and CEO Gary Fields and Vice President and CFO Scott Asbjornson will present at the DA Davidson and Sidoti Virtual Conferences. The first presentation is scheduled for September 22, 2020, at 8:00 AM (ET) during the DA Davidson 19th Annual Diversified Industrials & Services Conference. Following that, AAON will present at the Sidoti Fall 2020 Investor Conference on September 24, 2020, at 10:45 AM (ET). Presentation materials are available on the AAON investor website.
AAON, a top manufacturer of heating and cooling products, achieved the Platinum level in the 2020 Sustainable Tulsa Scor3card verification program, an improvement from Gold in 2019 and Bronze in previous years. To attain this, the company fulfilled over 85% of eligible directives covering areas like energy conservation and community stewardship. In 2020, capital expenditures are projected at $73 million, incorporating energy-efficient upgrades. CEO Gary Fields emphasized the company's commitment to environmental sustainability as a core business strategy.
AAON, based in Tulsa, will host a conference call on August 6, 2020, at 4:15 p.m. ET to discuss its second quarter performance ending June 30, 2020. The call will cover recent events and future outlook, lasting approximately 45 minutes.
Participants can join via the U.S. toll-free number 1-833-634-8218 with the passcode 9699424. A rebroadcast will be available until August 20, 2020, at 1-855-859-2056 using the same passcode.
AAON has declared a semi-annual cash dividend increase of 18.75% to $0.19 per share, amounting to $0.38 annually, effective July 1, 2020, for shareholders on record by June 3, 2020. The CEO emphasized the company’s strong capital position in supporting this dividend. Additionally, AAON approved a $1.25 million donation to the Winifred Montana Public School District for a new school building, honoring the legacy of its founder. The donation reflects AAON's commitment to community support.
AAON, Inc. announces a leadership transition, appointing Gary D. Fields as the new Chief Executive Officer effective May 12, 2020, while Norman H. Asbjornson will become Executive Chairman. Fields has been with AAON since 2016, showcasing strong leadership skills. Under his presidency, AAON achieved record net income and revenue in Q1 2020. The Board believes this transition will enhance value for shareholders, leveraging Asbjornson's experience and Fields’ industry expertise. This change aims to continue AAON’s strategic growth in the HVAC market.
AAON, Inc. (NASDAQ-AAON) reported robust Q1 2020 results with net sales of $137.5 million, a 20.8% increase year-over-year. Gross profit surged 68.9% to $42.9 million, enhancing gross profit margin from 22.3% to 31.2%. Net income rose 149.5% to $21.9 million, translating to earnings per diluted share of $0.41. Despite a 16.2% decline in backlog from year-end 2019, the company maintained strong cash reserves of $52.1 million and continued to adapt to COVID-19 challenges while achieving nearly 100% on-time deliveries.
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