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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.
On April 13, 2022, AAON (NASDAQ: AAON) announced that CFO Rebecca Thompson has been honored with the 2022 STEP Ahead Award by the Manufacturing Institute. This award recognizes women demonstrating leadership in manufacturing. Thompson expressed gratitude for AAON's support of women leaders and emphasized the importance of mentorship. The STEP Ahead initiative aims to close the gender gap in manufacturing by empowering women and fostering a skilled workforce. The award ceremony will take place on April 28 in Washington, D.C.
AAON, Inc. announced the retirement of Paul K. Lackey, Jr. from its Board of Directors, effective at the Annual Meeting on May 12, 2022. Lackey, who has served since 2007, will not seek re-election to reduce his professional commitments. CEO Gary D. Fields expressed gratitude for Lackey's invaluable contributions over nearly 15 years. AAON, founded in 1988, specializes in manufacturing premium air conditioning and heating equipment.
AAON, a leading manufacturer of energy-efficient HVAC systems, announced that President and CEO Gary Fields and CFO Rebecca Thompson will participate in the Sidoti & Company Small Cap Virtual Conference on March 24, 2022, at 11:30 a.m. ET. The live webcast will be available on the AAON website, with an archive accessible post-event. Since its founding in 1988, AAON has specialized in the engineering, manufacturing, and sale of HVAC equipment, emphasizing superior performance and customer satisfaction.
AAON, a leader in HVAC solutions, announced participation in the J.P. Morgan Industrials Conference on March 17, 2022, at 2:10 p.m. ET. President Gary Fields, CFO Rebecca Thompson, and Matt Tobolski from BasX Solutions will represent the company. The event will be streamed live on the AAON website, with a recording available for 30 days post-event. Founded in 1988, AAON specializes in manufacturing energy-efficient heating and cooling equipment for nonresidential buildings, ensuring high performance and customer satisfaction.
AAON, a leader in HVAC products, reported a Q4 2021 revenue of $136.3 million, reflecting a 16.8% increase year-over-year. Despite this growth, gross profit fell 21.7% to $26.5 million, primarily due to supply chain issues and inflationary pressures, resulting in a net income of $6.2 million or $0.11 per share, down 68.6%. The company’s backlog surged 249.6% year-over-year to $260.2 million. The CFO indicated a strong financial position, while the CEO expressed optimism for recovery in production and margins in 2022.
AAON, a leader in HVAC products, will host its quarterly conference call on February 28, 2022, at 5:15 p.m. to discuss fourth quarter 2021 financial results. The results will be released after market close the same day.
Investors can participate via a Q&A dial-in or a listen-only webcast by registering at this link. A replay will be available the following business day on AAON's website.
AAON, Inc. announced the election of Gene Stewart as Executive Vice President and Doug Wichman as Executive Vice President of AAON Coil Products, effective January 1, 2022. Stewart previously served as President of AAON Coil Products and has extensive industry experience, while Wichman, with the company since 2013, was most recently Director of Manufacturing. CEO Gary D. Fields emphasized these promotions align with succession planning and acknowledge their contributions to the company's success.
AAON, Inc. (NASDAQ: AAON) has successfully acquired BasX Solutions for a total of up to $180 million, finalized on December 10, 2021. The upfront payment of $100 million was primarily funded by cash reserves, while additional payment associated with performance milestones could reach $80 million. AAON also plans to acquire real estate related to BasX for $22 million. This acquisition provides AAON access to the high-growth data center and cleanroom markets, which are projected to enhance revenue and profitability, with BasX expected to generate approximately $70 million in revenue in 2021.
AAON, a leader in premium HVAC products, announced that CEO Gary Fields and CFO Rebecca Thompson will participate in a virtual fireside chat at the Credit Suisse Global Industrials Conference on December 2, 2021, at 8:50 a.m. ET. The event will be available via live webcast and can also be accessed later for replay. AAON specializes in manufacturing highly energy-efficient heating and cooling equipment, established in 1988. For more information, visit www.AAON.com.
AAON, Inc. has announced its acquisition of BasX, LLC for $100 million, with potential earn-out payments of up to $80 million. BasX specializes in high-efficiency cooling solutions for data centers and cleanroom environments, projecting revenue of approximately $70 million in 2021. This acquisition aims to enhance AAON's market presence in high-growth sectors and is anticipated to be accretive to earnings immediately, excluding acquisition-related costs. Additionally, the acquisition is expected to generate significant revenue and cost synergies while maintaining BasX's management team for continuity.
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