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 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 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.
AAON, a leading provider of high-performance and energy-efficient HVAC solutions, has announced its participation in the Baird 2024 Global Industrials Conference in Chicago. CEO Gary Fields and President/COO Matt Tobolski will represent the company at the event, scheduled for November 12-13, 2024. The executives will deliver a 30-minute presentation and conduct one-on-one meetings with investors throughout the conference. Interested investors can arrange meetings through their Baird conference representatives.