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, a manufacturer of heating and cooling products, was awarded the 2020 Henry Bellmon Award in the Large Business category by Sustainable Tulsa. This recognition is based on AAON's performance in the Scor3card sustainability assessment, where it achieved the Platinum level, the highest attainable. Gary Fields, President and CEO, emphasized the company's commitment to energy-efficient HVAC designs and sustainable practices benefiting employees, shareholders, and customers.
AAON, Inc. (NASDAQ-AAON) has declared a semi-annual cash dividend of $0.19 per share, totaling $0.38 annually. This dividend will be payable on December 18, 2020, to stockholders of record as of the close of business on November 27, 2020. The company, established in 1988, specializes in manufacturing air conditioning and heating systems, focusing on delivering high-quality products. Shareholders can expect this consistent dividend as a demonstration of AAON's ongoing commitment to providing value.
AAON announced the retirement of Mr. Jerry Levine from his investor relations role, effective November 30, 2020, after over 20 years of service. His contributions were pivotal in building a strong institutional shareholder base, with more than 70% of shares held by over fifty institutional investors. AAON has appointed Mr. Joseph Mondillo as the new Director of Investor Relations, starting November 16, 2020. Mondillo brings 16 years of experience in the financial industry, including knowledge specific to the HVAC sector and AAON.
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.