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AAON Inc. (NASDAQ: AAON), established in 1988 and headquartered in Tulsa, Oklahoma, is a leading manufacturer of high-performance, energy-efficient HVAC solutions for commercial and industrial markets. The company's product portfolio includes rooftop units, chillers, air-handling units, geothermal heat pumps, and more. AAON serves diverse markets primarily in North America, focusing on new construction and replacement applications.
AAON is renowned for its commitment to innovation, highlighted by the recent launch of the AAON Alpha Class air-source heat pumps. These units, available from two to 70 tons, excel in efficiency and environmental sustainability, featuring variable speed compressor technology, energy recovery, and low global warming potential refrigerants. The Alpha Class units are designed to perform reliably even at sub-zero temperatures, making them ideal for diverse climates.
The company's dedication to sustainability extends to its proactive transition to the low GWP refrigerant R-454B, significantly reducing environmental impact ahead of regulatory mandates. Additionally, AAON's participation in the Department of Energy's Better Buildings Commercial Building Heat Pump Accelerator underscores its leadership in advancing sustainable HVAC technologies.
AAON's financial performance has been robust, marked by consistent record sales and profits, driven by improved operational efficiencies, strategic pricing, and a strong backlog. The company's world-class innovation center and testing lab in Tulsa enable continuous advancements in HVAC technology, ensuring AAON remains at the forefront of industry innovation.
Under the leadership of CEO Gary Fields and President Matt Tobolski, AAON continues to enhance its operational capabilities and expand its market presence. Recent executive appointments reflect the company's strategic focus on aligning resources and leveraging organizational efficiencies for sustained growth.
AAON's commitment to community engagement and workforce development is evident in its active participation in Manufacturing Month events, fostering awareness of career opportunities in manufacturing and inspiring future generations of innovators.
AAON, Inc. (NASDAQ: AAON) has scheduled a quarterly conference call and webcast for May 4, 2023, at 5:15 p.m. Eastern Daylight Time. The call will discuss first quarter 2023 financial results, which will be released after market close on the same day. Participants can join the call via dial-in or listen to a webcast. The domestic dial-in number is 1-877-550-1858 and international callers can dial 1-848-488-9160, using conference ID 1754341.
A replay of the conference call will be accessible on the Company's website the following business day. Founded in 1988, AAON is known for its configurable HVAC solutions, providing long-term value for customers. For further details, visit their website.
AAON, a leader in HVAC solutions, will host an Investor Day Event on May 17-18, 2023, at its headquarters in Tulsa, OK. The event will include facility tours of the new Exploration Center, showcasing AAON products alongside competitors. The Exploration Center opens in April 2023 and enhances customer engagement. Attendees will also tour the Norman Asbjornson Innovation Center (NAIC), a unique 135,000 sq. ft. R&D facility. CEO Gary Fields and CFO Rebecca Thompson will present insights on market trends and growth strategies. A live webcast will be available for those unable to attend.
AAON, Inc. (NASDAQ: AAON) has announced its participation in the Sidoti & Company Small Cap Virtual Conference on March 22, 2023, at 11:30 a.m. E.T.. The company's management team, including President and CEO Gary Fields, CFO Rebecca Thompson, and Matt Tobolski, President and Co-Founder of BASX Solutions, will present. A live webcast of the presentation will be accessible on their website, with a replay available afterward. Investors can also schedule virtual one-on-one meetings during the event.
Founded in 1988, AAON specializes in HVAC solutions for commercial and industrial environments, headquartered in Tulsa, Oklahoma.
On March 1, 2023, AAON announced a shift in its dividend policy from semi-annual to quarterly payments. The Board declared a cash dividend of $0.12 per share ($0.48 annually), payable on March 31, 2023, to stockholders of record by the close of business on March 13, 2023. CEO Gary D. Fields stated that this change allows for more regular capital distribution to shareholders, aligning with common practices. This move aims to enhance shareholder value and reflects AAON's commitment to providing benefits to its investors.
AAON, INC. (NASDAQ-AAON) reported a remarkable fourth quarter in 2022, achieving a net sales increase of 86.8% to a record $254.6 million from $136.3 million in Q4 2021. Organic growth accounted for 41%, while pricing and inorganic growth contributed 26.7% and 19.1% respectively. Gross profit soared 195.9% to $78.5 million, with a gross margin of 30.8%. Earnings per diluted share surged 545.5% to $0.71. The company ended 2022 with a record backlog of $548 million, a 110.6% year-over-year increase, setting a positive outlook for 2023.
AAON has promoted Doug Wichman to President of AAON Coil Products, effective February 24, 2023. Wichman has been with the company since 2013, previously serving as Executive Vice President. His extensive experience includes roles in manufacturing and engineering, which are expected to enhance AAON's operational effectiveness. CEO Gary D. Fields expressed confidence in Wichman's leadership, noting his contributions to the company's growth in Longview, TX. AAON continues to be a leader in HVAC solutions, with a commitment to innovation and efficiency.
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