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, 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.
AAON celebrated National Manufacturing Month in October by hosting over 250 students, educators, and business leaders at its facilities. The initiative aims to address manufacturing industry challenges, including the projected need to fill over 4 million jobs by 2030, with concerns that half might remain unfilled due to skills gaps and industry misperceptions.
The company conducted tours at its Tulsa, Oklahoma location, showcasing its Norman Asbjornson Innovation Center and Exploration Center. In Longview, Texas, AAON participated in LEDCO's Company Leader Big Techs Tour series, highlighting facility expansions and career opportunities. The month also featured employee appreciation events across all locations.
AAON has secured orders worth approximately $174.5 million from a data center customer for custom-designed thermal management systems supporting liquid cooling deployment. The equipment will be manufactured under the BASX brand in Longview, Texas facilities, with production and delivery expected mainly in the first half of 2025. A new facility construction is on track for completion by end-2024, with staffing and setup already underway. The company emphasizes its engineering capabilities and leadership in the data center cooling market, viewing these orders as part of a larger growth opportunity in what they anticipate to be a multi-year growth cycle.
AAON, a provider of high-performing, energy-efficient HVAC solutions, has scheduled its third quarter 2024 financial results conference call and webcast for Thursday, November 7, 2024, at 5:15 p.m. EST. The financial results will be released after market close on the same day. Participants can join via dial-in at 1-800-836-8184 for Q&A participation or access a listen-only webcast through registration. A replay will be available on the company's investor website the following business day.
BASX, a leader in manufacturing high-efficiency data center cooling solutions, cleanroom systems, and custom HVAC systems, has officially opened its new 36,000-square-foot weld shop in Redmond, Oregon. The ribbon-cutting ceremony, performed by the Redmond Chamber of Commerce, took place on September 18th, 2024, at BASX headquarters.
The new facility is set to create 30 additional welding positions, ranging from entry-level to experienced roles. It features state-of-the-art welding technology, advanced air filtration systems, overhead cranes, and a cutting-edge tube laser. A 75-foot-long dual-zone robotic welding cell is scheduled for installation in early 2025.
Dave Benson, AAON VP and BASX President, emphasized the investment's significance for both the company and Central Oregon's future, highlighting the potential for increased quality, efficiency, and local job opportunities.