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 (NASDAQ: AAON) has announced that its Board of Directors has approved a $30.0 million share repurchase authorization as part of its previously disclosed $100 million share repurchase program. The company will execute these repurchases through pre-arranged stock repurchase plans following Rule 10b-18 of the Securities Exchange Act of 1934.
The actual implementation details, including timing, number of shares, and value of repurchases, will be determined based on various market factors such as share price, trading volume, and market conditions.
AAON reported Q4 2024 results with net sales decreasing 2.9% to $297.7 million. The quarter saw mixed performance across segments, with AAON Oklahoma sales declining 16.1% while AAON Coil Products segment grew 129.9%, driven by BASX data center cooling solutions.
Q4 gross profit decreased 30.5% to $77.6 million (26.1% of sales), with earnings per diluted share falling 46.4% to $0.30. The company's total backlog finished 2024 up 70.0% year-over-year, with BASX-branded equipment backlog increasing over 100%.
Key developments include completion of a 245,000 sq ft facility expansion in Longview, Texas, purchase of a 787,000 sq ft building in Memphis, and approval of a new $100.0 million share repurchase program. The company ended 2024 with $6.5 million in cash and $154.9 million in total debt.
AAON (NASDAQ: AAON) has announced that Matt J. Tobolski, PhD, will become the new Chief Executive Officer effective May 13, 2025, succeeding Gary Fields. Dr. Tobolski, currently serving as president and COO, will transition from his role as the former president of BASX Solutions, a company he co-founded in 2013 and was acquired by AAON in December 2021.
Fields will remain on the Board of Directors and serve as a special advisor to ensure a smooth transition. The appointment comes as AAON continues to strengthen its market position through investments in data center cooling production capacity. Dr. Tobolski brings extensive leadership experience and understanding of HVAC systems, particularly in data center thermal management.
The transition period will span three months, during which Fields and Tobolski will work together to position AAON for long-term growth and success.
AAON, a leading provider of high-performing, energy-efficient HVAC solutions, has announced its upcoming fourth quarter and full year 2024 financial results conference call and webcast. The event is scheduled for Thursday, February 27, 2025, at 9:00 a.m. EST.
The company will release its financial results earlier that morning. Participants can join via dial-in at 1-800-836-8184 to participate in Q&A, or access a listen-only webcast through registration. A replay of the call will be available on AAON's investor relations website the following business day.
AAON announces executive leadership restructuring effective January 1, 2025, focusing on its two main brands: AAON and BASX products. Stephen Wakefield is appointed Executive VP & General Manager of AAON products, while Matt Shaub takes the same role for BASX products. The reorganization aims to support strategic growth, streamline processes, and capitalize on market demands, particularly with the expansion including the new Memphis facility. Additional alignments include Larry Honel leading global manufacturing, Whitney Wakefield heading manufacturing support, and Andrew Edmondson continuing to lead sales and marketing teams.
AAON, a leading provider of high-performance and energy-efficient HVAC solutions, has announced its participation in the UBS Global Industrials & Transportation Conference in West Palm Beach, FL, on December 4, 2024. The company's executive team, including CEO Gary Fields, President and COO Matt Tobolski, and CFO Rebecca Thompson, will engage in a 40-minute fireside chat and conduct one-on-one meetings with investors. Interested investors can arrange meetings through their UBS conference representatives.
AAON (NASDAQ: AAON) reaffirms its commitment to the U.S. Department of Energy's Better Buildings Commercial Building Heat Pump Technology Challenge through strategic partnerships. The company collaborates with Copeland, leveraging their 30-year relationship for advanced compressor technology, and partners with Oklahoma State University, Montana State University, and the University of Maryland for various technical developments. OSU focuses on regulatory research and low GWP refrigerants, Montana State assists with prototype development and testing, while Maryland contributes to coil technology and software development. These partnerships aim to accelerate the integration of new findings into commercial products.
AAON announces expansion with a new 787,000 square foot facility in Memphis, Tennessee, primarily focused on serving the growing data center market. The facility will manufacture various thermal management equipment under the BASX brand, including air-cooled systems, computer room air handlers, and liquid cooling distribution units. Expected to create 828 skilled jobs over five years, the facility will begin production in early 2025 and achieve full operational status within 12 months. This strategic expansion adds geographic diversification to AAON's manufacturing footprint while strengthening its position in the data center market.
AAON (NASDAQ: AAON) has announced its Board of Directors has declared a regular quarterly cash dividend of $0.08 per share, equivalent to $0.32 annually. The dividend will be paid on December 19, 2024, to stockholders of record as of the close of business on November 29, 2024.
AAON reported record Q3 2024 net sales of $327.3 million, up 4.9% year-over-year. Growth was driven by BASX and AAON Coil Products segments, increasing 58.8% and 36.7% respectively, while AAON Oklahoma segment declined 7.1%. Gross profit margin decreased to 34.9% from 37.2% in Q3 2023. Earnings per diluted share were $0.63, flat compared to adjusted earnings in Q3 2023. Backlog stood at $647.7 million, up 32.0% year-over-year, primarily consisting of data center equipment orders for 2025 delivery. The company received additional orders worth $174.5 million in October for data center cooling solutions.