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. (AAON) is a leading innovator in commercial HVAC systems and industrial refrigeration solutions, serving construction and replacement markets with energy-efficient, customizable equipment. This page aggregates official press releases and verified news updates, providing stakeholders with a centralized resource for tracking the company's latest developments.
Investors and industry professionals will find timely updates on earnings reports, product innovations, and strategic expansions, including advancements in data center cooling through the BASX brand. The curated content highlights AAON's commitment to sustainability through low-emission refrigerants and energy-saving technologies.
Our collection includes announcements about manufacturing capacity increases, new heat pump technologies, and industry certifications, ensuring comprehensive coverage of operational milestones. Bookmark this page for direct access to primary source materials that support informed analysis of AAON's market position and growth trajectory.
AAON, Inc. (NASDAQ: AAON) has announced a shift to the lower Global Warming Potential (GWP) refrigerant R-454B, replacing R-410A in its HVAC products. This transition is expected to start by the end of Q3 2023, ahead of environmental regulation phase-out dates. R-454B boasts a GWP of 466, promoting reduced environmental impact and aligning with future refrigerant regulations. The change also requires minimal redesign costs due to similar properties to R-410A. AAON continues its commitment to sustainable HVAC solutions, positioning itself as a leader in environmentally friendly equipment.
AAON, Inc. has declared a semi-annual cash dividend of $0.24 per share, representing a 26% increase from previous dividends, payable on December 16, 2022. This decision reflects the company's continued commitment to returning value to shareholders. Additionally, the Board has authorized a stock buyback program of up to $50 million, allowing for purchases through open market transactions, potentially enhancing shareholder value and boosting stock price.
AAON reported a record net sales of $242.6 million for Q3 2022, a 75.1% increase from Q3 2021. Growth was driven by a strong backlog, organic volume growth, and pricing strategies which contributed to a gross profit margin of 27.0%. Earnings per diluted share rose 75.9% to $0.51. The company also achieved a significant backlog of $514.7 million, up 183.1% year-over-year. Despite supply chain issues, operational productivity improved. However, the company announced the termination of its WH and WV water-source heat pump series due to profitability concerns.
AAON, based in Tulsa, Oklahoma, has scheduled its quarterly conference call for November 7, 2022, at 5:15 p.m. Eastern to discuss Q3 2022 financial results, releasing the data post-market close. The call will offer both dial-in and listen-only webcast options. Domestic participants can call 1-888-440-3307, while international callers can reach 1-646-960-0787 using conference ID 7249161. A replay will be accessible the following day on the Company's website.
AAON specializes in configurable HVAC solutions, aiming to deliver long-term value to customers.
AAON, a leader in HVAC solutions, has launched its new zero degree cold climate air-source heat pump packaged rooftop unit, available in sizes from 2 to 30 tons. This innovative product addresses the growing demand for building decarbonization in cold climates, capable of operating efficiently down to 0°F. The unit utilizes advanced technology such as variable speed compressors and outdoor fans. AAON is also expanding its research for larger capacity units and lower temperature operations, showcasing its commitment to sustainability and efficiency.
On August 9, 2022, Gene Stewart announced his resignation as Executive Vice President of AAON, effective August 16, 2022. Stewart previously returned to the company in April 2020 and played a crucial role in transforming the Longview, Texas facility. His leadership positively impacted the aftermarket business strategy and marketing efforts. CEO Gary Fields praised Stewart for his contributions to the company’s operations and sales channels. Following his departure, AAON continues to focus on innovation in HVAC solutions and maintaining its industry leadership.
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.
