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AAON, Inc. (AAO.F)

Frankfurt - Frankfurt Delayed Price. Currency in EUR
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48.80+0.20 (+0.41%)
At close: 8:00AM CEST
Full screen
Previous Close48.60
Bid0.00 x 100000
Ask0.00 x 100000
Day's Range48.80 - 48.80
52 Week Range36.80 - 53.00
Avg. Volume1
Market Cap2.57B
Beta (5Y Monthly)0.68
PE Ratio (TTM)36.15
EPS (TTM)1.35
Earnings DateN/A
Forward Dividend & Yield0.34 (0.70%)
Ex-Dividend DateJun. 02, 2020
1y Target EstN/A
  • GlobeNewswire

    AAON Achieves Platinum in Sustainable Tulsa Scor3card Program

    TULSA, Okla., Sept. 03, 2020 (GLOBE NEWSWIRE) -- AAON, Inc. (NASDAQ: AAON), a leading manufacturer of heating and cooling products, announced that it achieved Platinum level in the 2020 Sustainable Tulsa Scor3card verification program. This follows up the company’s achievements of Gold in 2019 and Bronze in 2018 and 2017. Platinum level requires completing more than 85 percent of eligible directives. The company reported on all cornerstone directives, in the areas of Energy, Healthy Work Environment, Materials Management, Transportation, Water, Community Stewardship and Communications. This year AAON focused on energy conservation, waste reduction and facility improvements. Total capital expenditures for 2020 are expected to be $73 million. LED lighting upgrades have continued, along with scheduled replacement of many of the Tulsa manufacturing facility’s HVAC equipment with the newest high efficiency AAON systems available today. AAON also worked with THG Energy Solutions this year to benchmark energy usage and carbon footprint.“Environmental stewardship and sustainability are integral to our business strategies and corporate citizenship efforts. We are proud to participate in the Sustainable Tulsa Scor3card program and are continuously looking for ways to measure and improve our performance. AAON is committed to providing a cost effective, energy efficient, and productive work environment for our employees,” said Gary Fields, President and CEO of AAON.About Sustainable Tulsa Scor3card Sustainable Tulsa is a non-profit organization committed to making Tulsa a better place to live, work, and play. Scor3card is an online sustainability tracking and assessment tool for organizations who want to track and improve their sustainability plans. Using the triple bottom line strategy, Scor3card engages organizations around three areas of sustainability: people, profit, and planet. This holistic approach to sustainability allows organizations to engage their employees, bolster their economic growth, and become better environmental stewards.About AAON AAON 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, condensing units, makeup air units, energy recovery 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 Stephanie Cameron AAON, Inc. 918-688-9796

  • Do Its Financials Have Any Role To Play In Driving AAON, Inc.'s (NASDAQ:AAON) Stock Up Recently?
    Simply Wall St.

    Do Its Financials Have Any Role To Play In Driving AAON, Inc.'s (NASDAQ:AAON) Stock Up Recently?

    AAON's (NASDAQ:AAON) stock is up by a considerable 16% over the past three months. As most would know, fundamentals...

  • GlobeNewswire

    AAON Reports Earnings & Backlog for the Second Quarter of 2020

    TULSA, Okla., Aug. 06, 2020 (GLOBE NEWSWIRE) -- TULSA, OK, August 6, 2020 - AAON, INC. (NASDAQ-AAON), today announced its results for the second quarter of 2020. Financial Highlights:Three Months Ended   June 30, %   Six Months Ended   June 30, %  2020 2019 Change   2020 2019 Change  (in thousands, except share and per share data)   (in thousands, except share and per share data) Net sales$125,596  $119,437  5.2%   $263,079  $233,259  12.8% Gross profit38,131  30,204  26.2%   81,078  55,634  45.7% Gross profit %30.4% 25.3%     30.8% 23.9%   Selling, general and admin. expenses$15,939  $12,912  23.4%   $31,153  $26,589  17.2% SG&A %12.7% 10.8%     11.8% 11.4%   Net income17,804  13,391  33.0%   39,657   22,148  79.1% Net income %14.2% 11.2%     15.1% 9.5%   Earnings per diluted share$0.34  $0.25  36.0%   $0.75  $0.42  78.6% Diluted average shares52,750,401  52,747,199  —  %   52,885,491  52,589,845  0.6%                 June 30, December 31,%          2020 2019 Change          (in thousands)           Backlog$103,508  $142,747  (27.5)%         Cash & cash equivalents & restricted cash70,845  44,373  59.7%         Total current liabilities76,620  56,028  36.8%         Gary Fields, CEO, said "It has been a challenging quarter for us.  As an essential business, we were able to maintain continuous operations during the quarter but our workforce was impacted by employee absences, most significantly in the latter part of June.  These unexpected employee absences resulted in reduced shipments and longer lead times.  Our dedicated team members worked hard to overcome the challenges as demonstrated by our positive results reflected above.  Our improved efficiency, fiscal responsibility and declining raw material costs helped us improve our gross profit and bottom line."Mr. Fields continued, "Thankfully, most of our workforce affected by COVID-19 has recovered and returned to work, resulting in significant improvement in our employee absenteeism levels in the first part of July.  We continuously work to keep our workforce safe and healthy.  We have implemented several safety procedures concerning COVID-19 including mandatory use of masks, daily temperature scanning and health screens of all employees and visitors at our facilities."Mr. Fields added "Our financial condition remains strong as evidenced by our current ratio of 2.9:1 at June 30, 2020.   We had unrestricted cash and cash equivalents of $61.3 million as of June 30, 2020, which, along with improved free cash flow, enabled us to declare an $0.19 per share semi-annual cash dividend, paid on July 1, 2020, an 18.8% increase from the $0.16 semi-annual dividend paid last year.  Our capital expenditures during the first half of the year were $33.5 million, as compared to $16.8 million for the same period a year ago, and we anticipate our full-year 2020 capital expenditures will total approximately $73.2 million."Mr. Fields concluded, "Our incoming order rate has recently softened slightly due to less than optimal lead times and turmoil in the market resulting from COVID-19.  We are back on schedule and anticipate orders will increase as our lead times improve during our peak selling season.  Uncertainty in the education industry could negatively impact our employee attendance levels as well as our bookings.  The outlook for the remainder of the year is hard to predict during these uncertain times.  Despite this uncertainty, we remain cautiously optimistic that the year will end with modest revenue growth over 2019."The Company will host a conference call today at 4:15 P.M. (Eastern Time) to discuss the second quarter 2020 results. To participate, call 1-833-634-8218 (code 9699424); or, for rebroadcast available through August 20, 2020, call 1-855-859-2056 (code 9699424).About AAON AAON, 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 Statements Certain 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 Information Jerry R. Levine Phone: (914) 244-0292 Fax: (914) 244-0295 Email: AAON, Inc. and Subsidiaries Consolidated Statements of Income (Unaudited)  Three Months Ended   June 30, Six Months Ended   June 30,  2020 2019 2020 2019  (in thousands, except share and per share data) Net sales$125,596  $119,437  $263,079   $233,259   Cost of sales87,465  89,233  182,001   177,625   Gross profit38,131  30,204  81,078   55,634   Selling, general and administrative expenses15,939  12,912  31,153   26,589   Loss (gain) on disposal of assets—   6  (62)  290   Income from operations22,192  17,286  49,987   28,755   Interest income, net19  31  80   40   Other income (expense), net32  17  5   (9)  Income before taxes22,243  17,334  50,072   28,786   Income tax provision4,439  3,943  10,415   6,638   Net income$17,804  $13,391  $39,657   $22,148   Earnings per share:        Basic$0.34  $0.26  $0.76   $0.43   Diluted$0.34  $0.25  $0.75   $0.42   Cash dividends declared per common share:$0.19  $0.16  $0.19   $0.16   Weighted average shares outstanding:        Basic52,099,694  52,120,272  52,160,348   52,087,626   Diluted52,750,401  52,747,199  52,885,491   52,589,845   AAON, Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited)  June 30, 2020 December 31, 2019 Assets(in thousands, except share and per share data) Current assets:    Cash and cash equivalents$61,284   $26,797   Restricted cash9,561   17,576   Accounts receivable, net56,394   67,399   Income tax receivable5,154   772   Note receivable28   29   Inventories, net85,411   73,601   Prepaid expenses and other1,943   1,375   Total current assets219,775   187,549   Property, plant and equipment:    Land3,804   3,274   Buildings112,735   101,113   Machinery and equipment260,548   236,087   Furniture and fixtures17,926   16,862   Total property, plant and equipment395,013   357,336   Less: Accumulated depreciation190,585   179,242   Property, plant and equipment, net204,428   178,094   Intangible assets, net155   272   Goodwill3,229   3,229   Right of use assets1,665   1,683   Note receivable555   597   Total assets$429,807   $371,424        Liabilities and Stockholders' Equity    Current liabilities:    Revolving credit facility$—   $—   Accounts payable19,698   11,759   Dividends payable9,930   —   Accrued liabilities46,992   44,269   Total current liabilities76,620   56,028   Deferred tax liabilities20,358   15,297   Other long-term liabilities3,794   3,639   New market tax credit obligation6,340   6,320   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, 52,234,119 and 52,078,515 issued and outstanding at June 30, 2020 and December 31, 2019, respectively209   208   Additional paid-in capital6,451   3,631   Retained earnings316,035   286,301   Total stockholders' equity322,695   290,140   Total liabilities and stockholders' equity$429,807   $371,424   AAON, Inc. and Subsidiaries Consolidated Statements of Cash Flows (Unaudited)  Six Months Ended   June 30,  2020 2019 Operating Activities(in thousands) Net income$39,657   $22,148   Adjustments to reconcile net income to net cash provided by operating activities:    Depreciation and amortization12,340   11,760   Amortization of debt issuance cost20   —    Provision for losses on accounts receivable, net of adjustments76   128   Provision for excess and obsolete inventories(193)  1,153   Share-based compensation5,694   7,786   (Gain) loss on disposition of assets(62)  290   Foreign currency transaction loss (gain)30   (13)  Interest income on note receivable(12)  (26)  Deferred income taxes5,061   3,318   Changes in assets and liabilities:    Accounts receivable10,929   (14,983)  Income taxes(4,382)  2,925   Inventories(11,617)  (585)  Prepaid expenses and other(568)  (650)  Accounts payable2,893   (2,592)  Deferred revenue473   172   Accrued liabilities2,423   5,041   Net cash provided by operating activities62,762   35,872   Investing Activities    Capital expenditures(33,510)  (16,784)  Proceeds from sale of property, plant and equipment61   59   Investment in certificates of deposits—    (6,000)  Maturities of certificates of deposits—    2,000   Principal payments from note receivable25   28   Net cash used in investing activities(33,424)  (20,697)  Financing Activities    Stock options exercised14,173   7,685   Repurchase of stock(15,937)  (10,191)  Employee taxes paid by withholding shares(1,102)  (980)  Net cash used in financing activities(2,866)  (3,486)  Net increase in cash, cash equivalents and restricted cash26,472   11,689   Cash, cash equivalents and restricted cash, beginning of period44,373   1,994   Cash, cash equivalents and restricted cash, end of period$70,845   $13,683