AAON, Inc (AAON)

Etorro trading 970x250
AAON, Inc (AAON) Logo

About AAON, Inc

AAON, Inc., together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, coils, and controls. The company markets and sells its products to retail, manufacturing, educational, lodging, supermarket, medical, and other commercial industries. It sells its products through a network of manufacturers’ representatives and internal sales force. The company was incorporated in 1987 and is based in Tulsa, Oklahoma. Address: 2425 South Yukon Avenue, Tulsa, OK, United States, 74107

AAON, Inc News and around…

Latest news about AAON, Inc (AAON) common stock and company :

AAON Releases 2020 Sustainability ESG Report
18 Oct, 2021 Yahoo! Finance

TULSA, Okla., Oct. 18, 2021 (GLOBE NEWSWIRE) -- AAON, Inc. (NASDAQ: AAON), a leader in innovation and the production of premium-quality, high-performance, energy-efficient HVAC products for nonresidential buildings, released its 2020 Sustainability ESG Report. In the report, the company highlights sustainability practices, achievements, as well as long-term targets. Highlights for the year 2020 include: Led the industry in offering of virus mitigating equipment and solutions.Expedited equipment

AAON Increases Board Size and Appoints Bruce Ware and David Stewart as Independent Directors
01 Oct, 2021 Yahoo! Finance

TULSA, Okla, Oct. 01, 2021 (GLOBE NEWSWIRE) -- AAON, Inc. announced today that its Board of Directors has increased the size of the Board from seven to nine members and appointed Bruce Ware and David Stewart as new independent directors to fill the vacancies, effective October 1, 2021. Bruce Ware brings significant experience serving in multiple executive and leadership roles at publicly traded companies. Presently, he serves as a Corporate Vice President and Group Head of Joint Venture Capital

AAON Hosts MFG Day Events
30 Sep, 2021 FinancialContent

MFG Day Shines Spotlight on Local Manufacturers, Highlights Career Opportunities

Those who invested in AAON (NASDAQ:AAON) five years ago are up 143%
01 Sep, 2021 Yahoo! Finance

When you buy a stock there is always a possibility that it could drop 100%. But on the bright side, you can make far...

Looking into AAON's Return on Capital Employed
25 Aug, 2021 FinancialContent

After pulling data from Benzinga Pro it seems like during Q2, AAON (NASDAQ:AAON) earned $25.21 million, a 36.57% increase from the ...

Benzinga's Top Ratings Upgrades, Downgrades For August 9, 2021
09 Aug, 2021 FinancialContent

Upgrades DA Davidson upgraded the previous rating for AAON Inc (NASDAQ:AAON) from Underperform to Neutral. For the second quarter, ...

AAON, inc (AAON) Q2 2021 Earnings Call Transcript
06 Aug, 2021 FinancialContent

AAON earnings call for the period ending June 30, 2021.

AAON Named “Commercial Comfort Product of the Year” by Engineered Systems Magazine
06 Aug, 2021 FinancialContent
AAON Reports Record Sales for the Second Quarter of 2021 and a Robust Increase in Backlog
05 Aug, 2021 FinancialContent
AAON Achieves Platinum in Sustainable Tulsa Scor3card Program
03 Aug, 2021 FinancialContent
Will Weakness in AAON, Inc.'s (NASDAQ:AAON) Stock Prove Temporary Given Strong Fundamentals?
27 Jul, 2021 Yahoo! Finance

It is hard to get excited after looking at AAON's (NASDAQ:AAON) recent performance, when its stock has declined 12...

AAON, Inc. Second Quarter 2021 Sales and Earnings Review Conference Call
22 Jul, 2021 FinancialContent
AAON (AAON) Sees Hammer Chart Pattern: Time to Buy?
23 Jun, 2021 Yahoo! Finance

AAON (AAON) has been struggling lately, but the selling pressure may be coming to an end soon.

AAON (NASDAQ:AAON) Might Be Having Difficulty Using Its Capital Effectively
21 Jun, 2021 Yahoo! Finance

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

AAON Announces Price Increase
17 Jun, 2021 FinancialContent
Analyzing AAON's Ex-Dividend Date
01 Jun, 2021 FinancialContent

AAON (NASDAQ:AAON) declared a dividend payable on July 1, 2021 to its shareholders as of May 17, 2021. It was also announced that ...

AAON to Speak at Wolfe Research Global Transportation & Industrials Conference
21 May, 2021 FinancialContent
AAON Announces Semi-Annual Cash Dividend and Promotion of Christopher D. Eason
17 May, 2021 FinancialContent
Is Now The Time To Put AAON (NASDAQ:AAON) On Your Watchlist?
16 May, 2021 Yahoo! Finance

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Aaon Inc (AAON) Q1 2021 Earnings Call Transcript
07 May, 2021 FinancialContent

AAON earnings call for the period ending March 31, 2021.

AAON, Inc. to Host Earnings Call
06 May, 2021 Yahoo! Finance

NEW YORK, NY / ACCESSWIRE / May 6, 2021 / AAON, Inc. (NASDAQ:AAON) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 6, 2021 at 4:15 PM Eastern Time.

AAON Reports Earnings & Backlog For The First Quarter Of 2021
06 May, 2021 FinancialContent
AAON Reports Earnings & Backlog For The First Quarter Of 2021
06 May, 2021 Yahoo! Finance

TULSA, Okla., May 06, 2021 (GLOBE NEWSWIRE) -- AAON, INC. (NASDAQ-AAON), today announced its results for the first quarter of 2021. Financial Highlights:Three Months Ended March 31, % 2021 2020 Change (in thousands, except share and per share data)Net sales$115,788 $137,483 (15.8)%Gross profit33,157 42,947 (22.8)%Gross profit %28.6% 31.2% Selling, general and admin. expenses$14,696 $15,214 (3.4)%SG&A %12.7% 11.1% Net income16,376 21,853 (25.1)%Net income %14.1% 15.9% Effective Tax Rate11.4% 21.5% Earnings per diluted share$0.30 $0.41 (26.8)%Diluted average shares53,814,644 52,871,419 1.8% March 31, December 31,% 2021 2020 Change (in thousands) Backlog$96,733 $74,417 30.0%Cash & cash equivalents & restricted cash97,772 82,288 18.8%Total current liabilities66,679 59,033 13.0% Net sales for the first quarter of 2021 decreased 15.8% to $115.8 million from $137.5 million in the first quarter of 2020. The year over year decline in net sales was partially attributable to fewer production days due to an extended holiday shutdown in early January and winter storm in February and is a reflection of our markets temporarily moderating at the end of 2020. Moreover, the prior year quarter was an all time record for the Company creating a tough relative comparison. The Company reported diluted EPS of $0.30, down 26.8% from $0.41 in the prior year period. The decline in EPS was largely due to the lower recognized revenue, partially offset by a lower effective tax rate. The lower tax rate compared to a year ago mainly related to a $1.8 million increase in excess tax benefits associated with stock awards. The Company finished the quarter with a backlog of $96.7 million, down from $119.6 million one year ago but up from $74.4 million at the end of 2020. The sequential improvement reflects the improved demand that we experienced throughout the first quarter. New bookings in the quarter increased 21% compared to the same period one year ago. Demand has continued to strengthen through April. As of May 1, 2021, backlog was approximately $104.5 million. Gary Fields, President and CEO, noted, "As we've mentioned in our prior releases, we were previously overwhelmed with customer orders and did not have the capacity to handle all these orders which lead to lengthy lead times in 2019. We spent most of that year adding several Salvagnini sheet metal fabrication machines and rearranging our production lines for more efficient production. In Longview, we started construction of our 224,000 square feet building which also housed additional Salvagninis and was completed in early 2021. As all this was happening, we had our lead times come down which resulted in a record breaking year in 2020. Although the pandemic caused new construction to slow down, our customers started to increase their replacement orders in early 2021 as demonstrated in the growth of our backlog." Gary Fields, President and CEO, said, “Considering our soft backlog entering the quarter combined with the challenges we faced related to the new construction market as well as the adverse weather at both of our facilities in February, we are pleased with our performance in the first quarter of the year. The year over year decline in revenue and earnings was unsurprising considering the all-time record quarter we realized in the first quarter of 2020. We believe the fact that our performance in the first quarter of 2021 was very similar to the fourth quarter of 2020 suggests our business has stabilized and has already begun to pick up after some moderation we experienced at the end of last year.” Mr. Fields added, “We are confident demand is improving. Our backlog at the beginning of May was up considerably from both the end 2020 and the end of the first quarter. Replacement demand is already improving as the economy recovers, and while the new construction market is still facing some challenges, we are beginning to see signs of stabilization. Inflation remains a challenge, but we are confident we will be able to maintain our margin through disciplined price management. In conclusion, as we look to the rest of the year, we continue to anticipate revenue and earnings will progressively improve throughout 2021.” As of March 31, 2021, the Company had no debt and unrestricted cash and cash equivalents of $97.0 million, which is up from $79.0 million at the end of 2020. Capital expenditures during the first three months of 2021 were $16.4 million, as compared to $21.9 million for the same period a year ago. Rebecca Thompson, CFO, stated, “We continue to anticipate our full-year 2021 capital expenditures will total approximately $70.7 million.” The Company will host a conference call today at 4:15 P.M. (Eastern Time) to discuss the first quarter 2021 results. To participate, call 1-888-241-0551 (code 7788949); or, for rebroadcast available through May 13, 2021, call 1-855-859-2056 (code 7788949). About AAONAAON, Inc. is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils and controls. Since the founding of AAON in 1988, AAON has maintained a commitment to design, develop, manufacture and deliver heating and cooling products to perform beyond all expectations and demonstrate the value of AAON to our customers. For more information, please visit www.AAON.com. Forward-Looking StatementsCertain statements in this news release may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties, including risks related to the impact of the error correction, that could cause actual results and developments to differ materially from the forward-looking statements. Contact InformationJoseph MondilloDirector of Investor RelationsPhone: (617) 877-6346Email: joseph.mondillo@aaon.com AAON, Inc. and SubsidiariesConsolidated Statements of Income(Unaudited) Three Months Ended March 31, 2021 2020 (in thousands, except share and per share data)Net sales $115,788 $137,483 Cost of sales 82,631 94,536 Gross profit 33,157 42,947 Selling, general and administrative expenses 14,696 15,214 (Gain) loss on disposal of assets — (62)Income from operations 18,461 27,795 Interest income, net 3 61 Other income (expense), net 17 (27)Income before taxes 18,481 27,829 Income tax provision 2,105 5,976 Net income $16,376 $21,853 Earnings per share: Basic $0.31 $0.42 Diluted $0.30 $0.41 Weighted average shares outstanding: Basic 52,293,464 52,071,839 Diluted 53,814,644 52,871,419 AAON, Inc. and SubsidiariesConsolidated Balance Sheets(Unaudited) March 31, 2021 December 31, 2020Assets(in thousands, except share and per share data)Current assets: Cash and cash equivalents$97,047 $79,025 Restricted cash725 3,263 Accounts receivable, net of allowance for credit losses of $493 and $506, respectively52,579 47,387 Income tax receivable7,353 4,587 Note receivable32 31 Inventories, net84,040 82,219 Prepaid expenses and other3,631 3,739 Total current assets245,407 220,251 Property, plant and equipment: Land4,109 4,072 Buildings126,090 122,171 Machinery and equipment292,961 281,266 Furniture and fixtures19,971 18,956 Total property, plant and equipment443,131 426,465 Less: Accumulated depreciation210,483 203,125 Property, plant and equipment, net232,648 223,340 Goodwill and intangible assets, net3,229 3,267 Right of use assets1,522 1,571 Note receivable578 579 Total assets$483,384 $449,008 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$17,615 $12,447 Accrued liabilities49,064 46,586 Total current liabilities66,679 59,033 Deferred tax liabilities32,982 28,324 Other long-term liabilities4,312 4,423 New market tax credit obligation6,373 6,363 Commitments and contingencies Stockholders' equity: Preferred stock, $.001 par value, 5,000,000 shares authorized, no shares issued— — Common stock, $.004 par value, 100,000,000 shares authorized, 52,423,579 and 52,224,767 issued and outstanding at March 31, 2021 and December 31, 2020, respectively210 209 Additional paid-in capital10,957 5,161 Retained earnings361,871 345,495 Total stockholders' equity373,038 350,865 Total liabilities and stockholders' equity$483,384 $449,008 AAON, Inc. and SubsidiariesConsolidated Statements of Cash Flows(Unaudited) Three Months Ended March 31, 2021 2020Operating Activities(in thousands)Net income$16,376 $21,853 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization7,398 6,002 Amortization of debt issuance cost10 10 (Recovery of) provision for credit losses on accounts receivable, net of adjustments(13) 294 Provision for excess and obsolete inventories(194) (274)Share-based compensation2,761 2,351 (Gain) loss on disposition of assets— (62)Foreign currency transaction (gain) loss(8) 51 Interest income on note receivable(6) (6)Deferred income taxes4,658 (167)Changes in assets and liabilities: Accounts receivable(5,179) (2,789)Income taxes(2,766) 772 Inventories(1,627) 1,020 Prepaid expenses and other108 (670)Accounts payable4,904 2,742 Deferred revenue2,358 229 Accrued liabilities58 6,241 Net cash provided by operating activities28,838 37,597 Investing Activities Capital expenditures(16,404) (21,877)Proceeds from sale of property, plant and equipment— 61 Principal payments from note receivable14 12 Net cash used in investing activities(16,390) (21,804)Financing Activities Stock options exercised9,438 4,497 Repurchase of stock(5,185) (11,565)Employee taxes paid by withholding shares(1,217) (953)Net cash provided by (used in) financing activities3,036 (8,021)Net increase in cash, cash equivalents and restricted cash15,484 7,772 Cash, cash equivalents and restricted cash, beginning of period82,288 44,373 Cash, cash equivalents and restricted cash, end of period$97,772 $52,145

AAON Enters Oversold Territory
30 Apr, 2021 FinancialContent

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100..

AAON Announces Retirement of CFO, Scott Asbjornson and Promotion of Rebecca Thompson
30 Apr, 2021 FinancialContent
AAON, Inc. First Quarter 2021 Sales and Earnings Review Conference Call
22 Apr, 2021 FinancialContent
AAON Presenting at Sidoti Virtual Conference
18 Mar, 2021 FinancialContent
Aaon Inc (AAON) Q4 2020 Earnings Call Transcript
26 Feb, 2021 FinancialContent

AAON earnings call for the period ending December 31, 2020.

AAON Reports Record Sales and Earnings For 2020
25 Feb, 2021 FinancialContent
AAON, Inc. Fourth Quarter and Full Year 2020 Sales and Earnings Review Conference Call
18 Feb, 2021 FinancialContent

AAON, Inc (AAON) is a NASDAQ Common Stock listed in , ,

970x250