Aaon Inc Stock Price, News & Analysis

On August 3, 2022, AAON appointed Rob Teis as Vice President of Sales and Marketing, signaling a strategic move during a pivotal period for the company. Rob, who has been with AAON since 2002 and served as the Director of Sales since 2017, brings extensive experience in sales management and technical expertise. The CEO, Gary D. Fields, emphasized that this promotion is crucial for executing AAON's long-term plans and enhancing their sales strategy. AAON, a leader in HVAC solutions, aims to foster innovation and sustainability in its operations.

AAON, a provider of HVAC solutions, reported a 45.1% increase in net sales for Q2 2022, totaling $208.8 million, driven by the acquisition of BasX. Despite this growth, earnings per share fell 21.1% to $0.30 due to declining gross profit margins impacted by rising costs. The company ended the quarter with a record backlog of $464 million, a 235.9% year-over-year increase. Management remains optimistic about future growth and margin improvement as higher-priced orders are processed.

AAON, a leader in HVAC solutions, announced its quarterly conference call scheduled for August 8, 2022, at 5:15 p.m. Eastern to discuss its second quarter 2022 financial results. The results will be released after market close on the same day. Investors can participate via a dial-in or listen to a webcast. A replay will be available on the company’s website the following business day. AAON, founded in 1988 and headquartered in Tulsa, Oklahoma, focuses on delivering efficient and sustainable HVAC solutions for commercial and industrial environments.

AAON, Inc. (NASDAQ: AAON) has won a Gold award in the HVAC Light Commercial Equipment category at the 19th Annual Dealer Design Awards. The award recognizes the RQ/RN Series Zero Degree Cold Climate Air-Source Heat Pump, highlighting the company's commitment to innovation in HVAC design. The awards featured 132 entries, judged by an independent panel of contractors. This recognition underscores AAON's role in meeting the demand for building decarbonization in cold climates, with products designed for efficiency in temperatures as low as 0°F.

AAON announced the appointment of Xerxes Gazder as Chief Information Officer, effective July 18, 2022. Gazder brings nearly 30 years of leadership experience in various industries, including manufacturing and healthcare. He holds a Bachelor’s in Mathematics and a Master’s in Computer Science. Former CIO Rony Gadiwalla will assist in the transition until August 12, 2022. CEO Gary D. Fields praised Gadiwalla for his contributions over 17 years. AAON specializes in manufacturing HVAC systems and has been committed to delivering high-performance heating and cooling products since its founding in 1988.

On July 11, 2022, AAON, Inc. (NASDAQ: AAON) announced participation in the CJS Securities "New Ideas" Conference, featuring presentations from key executives including Gary Fields, President and CEO. The event will take place on July 12, 2022, at 1:00 PM (ET) in Greenwich, Connecticut. Presentation materials are accessible on the AAON website. Established in 1988, AAON specializes in engineering, manufacturing, and selling various heating and cooling equipment, maintaining a strong commitment to quality and innovation.

AAON, a leader in heating and cooling equipment, declared a semi-annual cash dividend of $0.19 per share, totaling $0.38 annually. The payment is set for July 1, 2022, to shareholders on record as of June 3, 2022. Additionally, the company promoted Casey R. Kidwell to Vice President of Administration, effective May 12, 2022, shifting towards modernized governance as it appointed A.H. McElroy II as Independent Chairman and Caron Lawhorn as Independent Vice Chair following retirements in the board.

AAON reported strong Q1 2022 results, with net sales increasing 57.8% to $182.8 million. This growth was driven by 21.3% organic volume growth and an 18.1% contribution from the acquisition of BasX Solutions. However, gross profit margin declined to 25.2% from 28.6% due to rising material costs, while SG&A costs rose 56.9%. Despite challenges, diluted EPS increased 10.0% to $0.33. The company ended the quarter with a record backlog of $461.4 million, marking a 377.0% year-over-year increase.

AAON, Inc. announced that Norman H. Asbjornson will retire as Executive Chairman on May 12, 2022, after nearly 34 years of service but will remain on the Board of Directors and assist in a consulting role until May 2024. CEO Gary Fields highlighted the planned succession and expressed confidence in the company’s strategic objectives moving forward. Asbjornson praised AAON's achievements and expressed confidence in the company’s future under the leadership of Fields.