Financial Data and Key Metrics Changes - Total revenue grew year-over-year by 4.9% to a record of $327.3 million, up from $312 million in Q3 2023 [29] - Diluted earnings per share increased by 8.6% to $0.63 [32] - Gross margin contracted by 230 basis points to 34.9% compared to 37.2% in Q3 2023 [30] - Adjusted EBITDA margin was 25.3%, marking the third strongest quarter in company history [7] Business Line Data and Key Metrics Changes - The BASX segment saw revenue growth of 58.8%, while the AAON Coil Products segment grew by 36.7%, primarily driven by the data center market [29] - The AAON Oklahoma segment experienced a year-over-year sales decline of 7.1% due to tough comparisons and disruptions from the refrigerant transition [29][24] Market Data and Key Metrics Changes - Bookings in the third quarter were up year-over-year in the mid-single digits, with year-to-date bookings up approximately 27% [8] - Total backlog finished at $647.7 million, up 32% from a year ago, with a significant portion consisting of data center equipment orders [9] Company Strategy and Development Direction - AAON is focusing on becoming a leading player in the data center cooling market, with strong demand for data center equipment expected to continue [10][14] - The company is undergoing significant transformation across departments to sustain long-term growth and efficiency [12] - Capacity expansion projects are underway in both the BASX segment in Oregon and the AAON Coil Products segment in Texas, with a new facility in Memphis planned to accommodate increased production [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the data center market's growth, driven by cloud computing and AI demand, while acknowledging challenges in the non-residential construction sector [17][12] - The company anticipates a near-term lull in demand for the Oklahoma segment due to the refrigerant transition and softening macro environment, but expects demand to accelerate in the following year [26][27] Other Important Information - The company has increased its capital expenditure guidance for 2024 to $215 million, up from $125 million, reflecting investments in capacity expansion [34] - Cash flow from operations improved significantly year-over-year, totaling $191.7 million [33] Q&A Session Summary Question: Expected revenue decline in the Oklahoma segment - Management indicated a potential slight softening in Q4 and Q1 due to backlog reduction but noted a strong pipeline for future growth [45][46] Question: Clarification on Q1 earnings expectations - Management clarified that they do not anticipate a year-over-year decline in Q1, but a modest quarter-over-quarter decline from Q4 [48] Question: Details on the $175 million order - The order is from an existing customer and represents a large-scale deployment of liquid cooling solutions across multiple facilities [49] Question: Transition to new refrigerants - All states have passed necessary legislation for the new refrigerants, with the mandatory cutover date approaching [51] Question: Margin profile of the liquid cooling order - The margin for the liquid cooling order is expected to align with historical BASX segment margins, with potential for expansion as production ramps up [68] Question: Contribution of the new Memphis facility - The new facility is expected to significantly impact revenue, effectively doubling the available square footage for data center products [70]

Company Performance - Aaon reported quarterly earnings of $0.63 per share, exceeding the Zacks Consensus Estimate of $0.58 per share, but slightly down from $0.64 per share a year ago, representing an earnings surprise of 8.62% [1] - The company achieved revenues of $327.25 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.12% and up from $311.97 million year-over-year [2] - Over the last four quarters, Aaon has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Aaon shares have increased approximately 62.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 24.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $329.4 million, and for the current fiscal year, it is $2.28 on revenues of $1.22 billion [7] Industry Outlook - The Building Products - Air Conditioner and Heating industry, to which Aaon belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Aaon's stock performance [5]

Financial Performance - For the three months ended September 30, 2024, total net sales reached $327.252 million, a significant increase from $311.970 million in the same period of 2023, representing a growth of approximately 4.1%[26][27]. - The company reported a total of $902.917 million in net sales for the nine months ended September 30, 2024, up from $861.880 million in the same period of 2023, reflecting an increase of about 4.8%[29][31]. - Net income for the nine months ended September 30, 2024, was $143,869,000, compared to $130,574,000 for the same period in 2023, indicating an increase of approximately 10.2%[88]. - Basic earnings per share for the nine months ended September 30, 2024, was $1.77, up from $1.61 in 2023, reflecting a growth of about 9.9%[88]. - Gross profit for the quarter was $114,158,000, slightly down from $116,109,000 in the previous quarter, indicating a decrease of about 1.7%[106]. Revenue Recognition and Sales - The company recognized revenue over time for many products due to their highly customized nature, with no alternative use without significant costs[30]. - The company’s revenue recognition policy states that revenue is recognized when performance obligations are satisfied, typically at the time of shipment for manufactured equipment contracts[32]. - The revenue from Rooftop units for the nine months ended September 30, 2024, was $598.079 million, compared to $597.508 million for the same period in 2023, indicating a slight increase[29][31]. Assets and Liabilities - As of September 30, 2024, the total accounts receivable amounted to $144,944 thousand, an increase from $138,431 thousand as of December 31, 2023, with a net total of $143,806 thousand after accounting for an allowance for credit losses of $1,138 thousand[43]. - The total gross inventory as of September 30, 2024, was $185,739 thousand, down from $219,692 thousand as of December 31, 2023, resulting in a net inventory of $177,731 thousand after an allowance for excess and obsolete inventories of $8,008 thousand[46]. - The total property, plant, and equipment as of September 30, 2024, was $726,117 thousand, an increase from $653,432 thousand as of December 31, 2023, with accumulated depreciation of $298,465 thousand[47]. - The total net intangible assets as of September 30, 2024, were $76,946 thousand, up from $68,053 thousand as of December 31, 2023, with definite-lived intangible assets totaling $62,375 thousand[50]. - Total accrued liabilities rose to $96,243 thousand as of September 30, 2024, compared to $85,508 thousand at December 31, 2023, representing a 12.3% increase[58]. Expenses and Costs - The company reported a depreciation expense of $14,636 thousand for the three months ended September 30, 2024, compared to $11,301 thousand for the same period in 2023[48]. - The allowance for credit losses increased to $1,138 thousand as of September 30, 2024, from $323 thousand as of September 30, 2023, indicating a rise in expected credit losses[44]. - The profit sharing bonus plan expense for the three months ended September 30, 2024, was $6,242,000, compared to $6,954,000 for the same period in 2023, reflecting a decrease of approximately 10.2%[85]. - Medical premium payments for the three months ended September 30, 2024, increased to $5,314,000 from $4,455,000 in 2023, representing a rise of about 19.3%[87]. Taxation - The company paid $12,194 thousand in income taxes for the three months ended September 30, 2024, compared to $12,081 thousand for the same period in 2023[54]. - The income tax provision for the three months ended September 30, 2024, was $11,885 thousand, down from $15,413 thousand for the same period in 2023, a decrease of 22.0%[62]. - The effective tax rate for the three months ended September 30, 2024, was 18.4%, compared to 24.3% for the same period in 2023[63]. - The total provision for income taxes for the nine months ended September 30, 2024, was $34,456 thousand, compared to $29,447 thousand for the same period in 2023, an increase of 17.1%[62]. Financing and Debt - The company had $55.7 million outstanding under the revolving credit facility as of September 30, 2024, an increase from $38.3 million at December 31, 2023[60]. - The weighted average interest rate on borrowings under the revolving credit facility was 6.6% for the three months ended September 30, 2024, compared to 6.5% for the same period in 2023[60]. - Lease liability increased to $13,788 thousand as of September 30, 2024, from $10,201 thousand at December 31, 2023, a rise of 35.4%[59]. Stock and Shareholder Information - The company authorized a stock repurchase program totaling $150 million, with expiration dates ranging from February 27, 2024, to June 14, 2024[91]. - Cash dividends of $0.08 per share were declared for multiple dates in 2023 and 2024, maintaining an annualized dividend of $0.32 per share[93]. - The company completed a three-for-two stock split effective August 16, 2023, impacting all share and per share information[94]. - The total intrinsic value of options exercised during the nine months ended September 30, 2024, was $45.7 million, compared to $27.6 million for the same period in 2023, reflecting a 65.5% increase[70]. Employee Compensation and Benefits - The total share-based compensation expense for the nine months ended September 30, 2024, was $12.814 million, compared to $12.102 million for the same period in 2023, indicating a 5.9% increase[80]. - Contributions made to the defined contribution plan for the nine months ended September 30, 2024, were $14.646 million, up from $13.164 million in the same period of 2023, representing an 11.2% increase[83]. - The company self-insures for employee health insurance and matches 175% of contributions to health savings accounts, with BASX employees joining the plan on January 1, 2024[86]. Investments and Acquisitions - The Company received a $23.0 million NMTC allocation for both the 2019 and 2023 Projects to facilitate the expansion of its Longview, Texas manufacturing operations[97][98]. - The Company committed to $78.0 million in contingent consideration for the BASX acquisition, with shares issued contingent upon performance milestones[95]. - The Company entered into a definitive agreement to purchase a new 787,000 square foot facility in Memphis, Tennessee, for approximately $63.0 million to accommodate incremental demand from the data center market[102]. Segment Performance - The company has three reportable segments: AAON Oklahoma, AAON Coil Products, and BASX, with performance evaluated primarily on gross profit[105]. - The company reported external sales of $228,887,000 for AAON Oklahoma, down from $246,454,000 in the previous quarter, a decline of approximately 7.5%[106]. - AAON Coil Products experienced external sales growth from $25,769,000 to $35,232,000, representing an increase of about 36.5%[106]. - BASX external sales increased significantly from $39,747,000 to $63,133,000, showing a growth of approximately 58.8%[106].

[Earnings Announcement](index=1&type=section&id=Earnings%20Announcement) AAON reported record Q3 2024 sales and earnings, driven by data center demand, while strategically expanding capacity and maintaining a strong financial position [Third Quarter 2024 Performance Highlights](index=1&type=section&id=Third%20Quarter%202024%20Performance%20Highlights) AAON reported record Q3 2024 net sales of **$327.3 million**, up 4.9%, with gross margin at **34.9%** and backlog growing **32.0%** to **$647.7 million** Financial Highlights: Three Months Ended September 30 | Financial Highlights (GAAP Measures) | 2024 (in thousands, except share and per share data) | 2023 (in thousands, except share and per share data) | % Change | | :----------------------------------- | :--------------------------------------------------- | :--------------------------------------------------- | :------- | | Net sales | $327,252 | $311,970 | 4.9 % | | Gross profit | $114,158 | $116,109 | (1.7)% | | Gross profit margin | 34.9 % | 37.2 % | | | Operating income | $65,520 | $64,664 | 1.3 % | | Operating margin | 20.0 % | 20.7 % | | | Net income | $52,625 | $48,078 | 9.5 % | | Earnings per diluted share | $0.63 | $0.58 | 8.6 % | | **Non-GAAP Measures** | | | | | Non-GAAP adjusted net income | $52,625 | $53,188 | (1.1)% | | Non-GAAP adjusted earnings per diluted share | $0.63 | $0.64 | (1.6)% | | Adjusted EBITDA | $82,863 | $83,710 | (1.0)% | | Adjusted EBITDA margin | 25.3 % | 26.8 % | | - Net sales for Q3 2024 increased **4.9%** to a record **$327.3 million**, driven by BASX (**58.8%** growth) and AAON Coil Products (**36.7%** growth), while AAON Oklahoma segment sales declined **7.1%**[2](index=2&type=chunk) - Gross profit margin in Q3 2024 was **34.9%**, down from **37.2%** in Q3 2023, due to lower volumes at AAON Oklahoma and temporary inefficiencies at BASX, partially offset by strong results at AAON Coil Products[3](index=3&type=chunk) - Earnings per diluted share for Q3 2024 were **$0.63**, approximately flat from the adjusted earnings per diluted share in Q3 2023[4](index=4&type=chunk) Backlog (in thousands) | September 30, 2024 | June 30, 2024 | September 30, 2023 | | :----------------- | :------------ | :----------------- | | $647,694 | $650,005 | $490,591 | - Backlog at September 30, 2024, was **$647.7 million**, approximately flat with the previous quarter but up **32.0%** year-over-year, primarily driven by the BASX and AAON Coil Products segments and consisting mostly of data center equipment orders for 2025[6](index=6&type=chunk) [Management Commentary and Strategic Outlook](index=2&type=section&id=Management%20Commentary%20and%20Strategic%20Outlook) Management highlighted record sales driven by data center demand, with strategic expansions in Texas and Memphis, while maintaining a strong balance sheet and investing in future growth - CEO Gary Fields stated that net sales were a Company record, driven by robust growth at the BASX and AAON Coil Products segments, largely spurred by the data center market[7](index=7&type=chunk) - BASX segment is expected to see margin improvement over the next six months as disruptions from capacity expansion dissipate and its shop reaches optimal efficiency[7](index=7&type=chunk) - Anticipates a near-term softening in overall rooftop demand due to a slower economic backdrop, but demand for data center equipment is expected to remain strong[7](index=7&type=chunk) - Subsequent to the quarter, in October, AAON received approximately **$174.5 million** of orders for a liquid cooling solution for a data center customer, expected to be produced and shipped in the first half of 2025[7](index=7&type=chunk) - The expansion project at the Longview, Texas location is on schedule for completion by year-end 2024, with production commencing in early 2025[7](index=7&type=chunk) - AAON entered into a definitive agreement to purchase a new **787,000 square foot** facility in Memphis, Tennessee, to accommodate incremental data center market demand and diversify its manufacturing footprint[7](index=7&type=chunk) - CFO Rebecca Thompson noted cash, cash equivalents, and restricted cash of **$6.7 million** and a revolving credit facility balance of **$55.7 million** as of September 30, 2024[7](index=7&type=chunk) - The company paid down **$30.2 million** on the revolving credit facility during the quarter, reducing its leverage ratio to **0.19x**[7](index=7&type=chunk) - Capital expenditures totaled **$38.4 million** in Q3 2024, bringing year-to-date investments to **$113.7 million**, with expansion projects at BASX completed and ACP on schedule for year-end[7](index=7&type=chunk) [Detailed Financial Statements](index=4&type=section&id=Detailed%20Financial%20Statements) This section presents AAON's consolidated statements of income, balance sheets, and cash flows, detailing financial performance and position for the reported periods [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Consolidated statements of income show increased net sales and net income for both three and nine months ended September 30, 2024, despite a slight Q3 gross profit decrease Consolidated Statements of Income (Unaudited, in thousands, except share and per share data) | Metric | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :------------------------------------- | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Net sales | $327,252 | $311,970 | $902,917 | $861,880 | | Cost of sales | $213,094 | $195,861 | $583,423 | $574,599 | | Gross profit | $114,158 | $116,109 | $319,494 | $287,281 | | Selling, general and administrative expenses | $48,637 | $51,470 | $139,820 | $123,684 | | Income from operations | $65,520 | $64,664 | $179,689 | $163,610 | | Net income | $52,625 | $48,078 | $143,869 | $130,574 | | Earnings per share: Diluted | $0.63 | $0.58 | $1.72 | $1.57 | | Cash dividends declared per common share | $0.08 | $0.08 | $0.24 | $0.24 | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) AAON's balance sheet as of September 30, 2024, shows increased total assets, driven by property, plant, and equipment and contract assets, alongside higher liabilities and stockholders' equity Consolidated Balance Sheets (Unaudited, in thousands, except share and per share data) | Metric | September 30, 2024 | December 31, 2023 | | :------------------------------------------ | :----------------- | :---------------- | | Cash and cash equivalents | $15 | $287 | | Restricted cash | $6,650 | $8,736 | | Accounts receivable, net | $143,806 | $138,108 | | Inventories, net | $177,731 | $213,532 | | Contract assets | $95,120 | $45,194 | | Total current assets | $427,836 | $408,954 | | Property, plant and equipment, net | $427,652 | $369,947 | | Total assets | $1,030,625 | $941,436 | | Accounts payable | $27,199 | $27,484 | | Accrued liabilities | $96,243 | $85,508 | | Contract liabilities | $16,391 | $13,757 | | Total current liabilities | $139,833 | $126,749 | | Revolving credit facility, long-term | $55,677 | $38,328 | | Total stockholders' equity | $796,856 | $735,224 | | Total liabilities and stockholders' equity | $1,030,625 | $941,436 | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2024, AAON reported increased operating cash flow, higher capital and software expenditures, and a net cash outflow from financing activities Consolidated Statements of Cash Flows (Unaudited, in thousands) | Metric | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :---------------------------------------------------------- | :----------------------------- | :----------------------------- | | Net income | $143,869 | $130,574 | | Depreciation and amortization | $45,185 | $33,439 | | Net cash provided by operating activities | $191,687 | $107,145 | | Capital expenditures | $(99,371) | $(82,900) | | Software development expenditures | $(14,436) | — | | Net cash used in investing activities | $(113,748) | $(82,732) | | Borrowings under revolving credit facility | $410,503 | $444,072 | | Payments under revolving credit facility | $(393,154) | $(436,656) | | Repurchase of stock | $(100,034) | $(25,009) | | Cash dividends paid to stockholders | $(19,571) | $(19,946) | | Net cash used in financing activities | $(80,297) | $(7,827) | | Net (decrease) increase in cash, cash equivalents and restricted cash | $(2,358) | $16,586 | | Cash, cash equivalents and restricted cash, end of period | $6,665 | $22,535 | [Non-GAAP Financial Measures](index=7&type=section&id=Non-GAAP%20Financial%20Measures) This section provides reconciliations of non-GAAP financial measures, including adjusted net income and EBITDA, to their most directly comparable GAAP measures [Non-GAAP Adjusted Net Income Reconciliation](index=7&type=section&id=Non-GAAP%20Adjusted%20Net%20Income%20Reconciliation) AAON reconciles non-GAAP adjusted net income to GAAP net income, adjusting for one-time events like the **$7.5 million** litigation settlement in 2023 to provide clearer operational insights Non-GAAP Adjusted Net Income Reconciliation (in thousands) | Metric | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :------------------------------------- | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Net income, a GAAP measure | $52,625 | $48,078 | $143,869 | $130,574 | | Litigation settlement | — | $7,500 | — | $7,500 | | Profit sharing effect | — | $(750) | — | $(750) | | Tax effect | — | $(1,640) | — | $(1,242) | | Non-GAAP adjusted net income | $52,625 | $53,188 | $143,869 | $136,082 | | Non-GAAP adjusted earnings per diluted share | $0.63 | $0.64 | $1.72 | $1.63 | - Non-GAAP adjusted net income is defined as net income adjusted for one-time events, such as litigation settlements, net of profit sharing and tax effect[20](index=20&type=chunk) [EBITDA and Adjusted EBITDA Reconciliation](index=7&type=section&id=EBITDA%20and%20Adjusted%20EBITDA%20Reconciliation) AAON presents EBITDA and Adjusted EBITDA as non-GAAP measures, derived from net income and adjusted for items like depreciation, interest, taxes, and one-time events, to show operational performance EBITDA and Adjusted EBITDA Reconciliation (in thousands) | Metric | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :------------------------------------ | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Net income, a GAAP measure | $52,625 | $48,078 | $143,869 | $130,574 | | Depreciation and amortization | $17,262 | $12,203 | $45,185 | $33,439 | | Interest expense, net | $1,091 | $1,266 | $1,697 | $3,959 | | Income tax expense | $11,885 | $15,413 | $34,456 | $29,447 | | EBITDA, a non-GAAP measure | $82,863 | $76,960 | $225,207 | $197,419 | | Litigation settlement | — | $7,500 | — | $7,500 | | Profit sharing effect | — | $(750) | — | $(750) | | Adjusted EBITDA, a non-GAAP measure | $82,863 | $83,710 | $225,207 | $204,169 | | Adjusted EBITDA margin | 25.3 % | 26.8 % | 24.9 % | 23.7 % | - EBITDA is defined as net income, plus depreciation and amortization, interest expense (income), net, and income tax expense[21](index=21&type=chunk) - Adjusted EBITDA is calculated as EBITDA adjusted by items in non-GAAP adjusted net income, except for taxes, as taxes are already excluded from EBITDA[23](index=23&type=chunk) [Corporate Information](index=2&type=section&id=Corporate%20Information) This section provides an overview of AAON, its forward-looking statements, and investor relations contact details [About AAON](index=3&type=section&id=About%20AAON) AAON, founded in 1988 and headquartered in Tulsa, Oklahoma, is a global leader in designing and manufacturing energy-efficient HVAC solutions for commercial and industrial environments - AAON, founded in 1988, is a global leader in HVAC solutions for commercial and industrial indoor environments[10](index=10&type=chunk) - The company is headquartered in Tulsa, Oklahoma, and is known for designing and manufacturing highly configurable, energy-efficient equipment[10](index=10&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section contains cautionary forward-looking statements, subject to risks and uncertainties, where actual results may differ materially, and the company disclaims any obligation to update them - The press release includes forward-looking statements subject to risks, uncertainties, and assumptions, and actual outcomes may differ materially from forecasts[11](index=11&type=chunk) - AAON undertakes no obligation to update publicly any forward-looking statements[11](index=11&type=chunk) - Important factors that could cause results to differ include changes in raw material and component prices, fluctuations in the commercial/industrial new construction market, changes in interest rates, and general economic conditions[11](index=11&type=chunk) [Investor Relations](index=2&type=section&id=Investor%20Relations) AAON held a conference call and webcast on November 7, 2024, to discuss Q3 2024 results, with a replay available online, and Joseph Mondillo as the Director of Investor Relations - A conference call and webcast were held on November 7, 2024, at 5:15 P.M. EDT to discuss Q3 2024 results and outlook[8](index=8&type=chunk) - A replay of the call is available on the Company's website at https://investors.aaon.com[8](index=8&type=chunk) - Contact for Investor Relations: Joseph Mondillo, Director of Investor Relations, Phone: (617) 877-6346, Email: joseph.mondillo@aaon.com[12](index=12&type=chunk)

TULSA, Okla., Nov. 7, 2024 /PRNewswire/ -- AAON, INC. (NASDAQ: AAON), a leader in high-performing, energy-efficient HVAC solutions that bring long-term value to customers and owners, today announced its results for the third quarter of 2024. Net sales for the third quarter of 2024 increased 4.9% to a record $327.3 million from $312.0 million in the third quarter of 2023. The yearover-year increase was largely driven by the BASX and AAON Coil Products segments, which realized growth of 58.8% and 36.7%, respe ...

Core Insights - AAON, Inc. is participating in the Baird 2024 Global Industrials Conference on November 12-13, 2024, with CEO Gary Fields and President and COO Matt Tobolski presenting [1] - The management will conduct a 30-minute presentation and host one-on-one meetings with investors during the event [2] Company Overview - Founded in 1988, AAON is a global leader in HVAC solutions for commercial and industrial indoor environments [3] - The company focuses on designing and manufacturing highly configurable equipment, enhancing efficiency, performance, and long-term value for customers [3] - AAON is headquartered in Tulsa, Oklahoma, featuring a world-class innovation center and testing lab for continuous advancement in the industry [3]

By 2030, manufacturers will need to fill more than 4 million jobs More than half of those jobs could be left unfilled because of two issues: a skills gap and misperceptions about modern manufacturing (Research: Manufacturing Institute and Deloitte) At AAON's Tulsa, Oklahoma location, students and educators from area high schools, colleges, and career-tech schools toured our facilities to learn about the company's industry-leading products, manufacturing processes, safety, and sustainability efforts. The tou ...

Core Insights - AAON, Inc. has received orders totaling approximately $174.5 million from a data center customer for a custom-designed thermal management system [1][2] - The equipment will be manufactured under the BASX brand at the Longview, Texas facility, with production expected to commence in early 2025 [1][2] - The new facility in Texas is on schedule for completion by the end of 2024, and staffing and training have already begun [1][2] Company Overview - AAON, founded in 1988, is a leader in HVAC solutions for commercial and industrial environments, focusing on energy efficiency and long-term value [3] - The company is headquartered in Tulsa, Oklahoma, and has a world-class innovation center and testing lab [3] BASX Overview - BASX, a wholly owned subsidiary of AAON, specializes in high-efficiency data center cooling solutions and has been recognized for industry-changing innovations over the past 40 years [4] - The BASX manufacturing facility is located in Redmond, Oregon, and is committed to high-quality products and customer service [4]

Core Points - AAON, Inc. has scheduled its quarterly conference call for November 7, 2024, at 5:15 p.m. EST to discuss third quarter 2024 financial results [1] - The financial results will be released immediately after the market closes on the same day [1] - The conference call will be accessible via dial-in and a listen-only webcast [1] Company Overview - AAON, founded in 1988, is a global leader in HVAC solutions for commercial and industrial indoor environments [2] - The company focuses on designing and manufacturing highly configurable equipment to enhance efficiency, performance, and long-term value [2] - AAON is headquartered in Tulsa, Oklahoma, featuring a world-class innovation center and testing lab [2]

Investors in AAON, Inc. (AAON) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $45.00 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean t ...