Aaon Inc - AAON STOCK NEWS

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.