UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission file number: 0-18953 AAON, INC. (Exact name of registrant as specified in its charter) Nevada 87-0448736 (State o ...

AAON, Inc. (NASDAQ:AAON) Q4 2022 Earnings Conference Call February 27, 2023 5:15 PM ET Company Participants Joseph Mondillo - Director, Investor Relations Matt Tobolski - President & Co-Founder, BasX Solutions Rebecca Thompson - Chief Financial Officer & Treasurer Conference Call Participants Julio Romero - Sidoti & Company Jean Ramirez - D.A. Davidson Chris Moore - CJS Securities Jon Braatz - Kansas City Capital Operator Good day, and welcome to the AAON Incorporated Fourth Quarter 2022 Earnings Conference ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ Commission file number: 0-18953 AAON, INC. (Exact name of registrant as specified in its charter) Nevada 87-0448736 (State or other jur ...

AAON, Inc. (NASDAQ:AAON) Q3 2022 Results Conference Call November 7, 2022 5:15 PM ET Company Participants Joe Mondillo - Director, IR Gary Fields - President and CEO Rebecca Thompson - CFO and Treasurer Conference Call Participants Chris Moore - CJS Securities Brent Thielman - D.A. Davidson Julio Romero - Sidoti Jon Braatz - Kansas City Capital Operator Ladies and gentlemen, thank you for standing by and welcome to AAON’s Third Quarter 2022 Earnings Conference Call. All lines have been placed on mute to pre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission file number: 0-18953 AAON, INC. (Exact name of registrant as specified in its charter) Nevada 87-0448736 (Sta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission file number: 0-18953 AAON, INC. (Exact name of registrant as specified in its charter) Nevada 87-0448736 (State or ...

Financial Data and Key Metrics Changes - Net sales increased by 57.8% to $182.8 million from $115.8 million, driven by organic volume growth of approximately 21.3% and an acquisition contribution of 18.1% [7] - Gross profit rose by 38.9% to $46.1 million, with a gross margin of 25.2%, down from 28.6% in Q1 2021, impacted by higher material costs and wage increases [8][12] - Net income increased to $18.1 million or 9.9% of sales compared to $16.4 million or 14.1% of sales in Q1 2021, with diluted earnings per share rising by 10% to $0.33 [13] Business Line Data and Key Metrics Changes - Selling, general and administrative (SG&A) expenses increased by 56.9% to $23.1 million, but as a percentage of sales, it decreased to 9.7% from 12.7% in the previous year [11] - Capital expenditures for the quarter were $14 million, with expectations for total capital expenditures for the year to be approximately $100.4 million [14] Market Data and Key Metrics Changes - Backlog as of March 31 was $461.4 million, up from $260 million at the end of December and $96.7 million at the end of Q1 2021, representing a 305% organic increase year-over-year [19] - Orders in the quarter were up 150% organically year-over-year, indicating significant market share gains [20] Company Strategy and Development Direction - The company is focused on improving production capacity and operational efficiencies, with record production rates achieved in Q1 [15][21] - New product introductions, such as water source heat pumps, are contributing positively to market demand, alongside strong replacement demand and new construction trends [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the second quarter, anticipating improvements in sales, margins, and earnings throughout the year, particularly in the second half [28] - Supply chain issues are easing, and the company is confident in its ability to manage costs and improve margins sequentially [44][45] Other Important Information - The acquisition of BasX Solutions is progressing well, with strong backlog and order trends, and revenue synergies developing faster than expected [27][54] - The company is transitioning to in-house production of fan wheels to enhance supply chain control and reduce vulnerability [50][51] Q&A Session Summary Question: What are the drivers of organic order growth and which product lines are seeing a surge? - Management noted broad-based product family growth, with significant orders for modular data centers and a 17% year-over-year increase in headcount in the legacy business [29][31] Question: How will the backlog convert into revenue throughout the year? - Management indicated that while the growth rate from Q4 to Q1 is not sustainable, they expect a small double-digit increase in revenue production for Q2, supported by a strong backlog [33][34] Question: Is the company comfortable with the current backlog level? - Management expressed a desire to draw down the backlog for revenue recognition but emphasized that they are not concerned about order intake [37][39] Question: What factors will contribute to achieving target margins by the end of the year? - Management highlighted that stabilizing costs and effective backlog management will lead to sequential margin improvements throughout the year [42][44] Question: Will SG&A expenses see better leverage as sales increase? - Management anticipates some leverage on SG&A expenses as they focus on adding production workers rather than overhead personnel [46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission file number: 0-18953 AAON, INC. (Exact name of registrant as specified in its charter) Nevada 87-0448736 (State o ...

Financial Data and Key Metrics Changes - Net sales increased by 16.8% to $136.3 million in Q4 2021 from $116.7 million in Q4 2020, primarily due to price increases contributing approximately 10% [6] - Gross profit decreased by 21.7% to $26.5 million, with gross profit as a percentage of sales dropping to 19.5% from 29.1% in the prior year, mainly due to supply chain issues and rising material costs [7] - Adjusted net income decreased by 35.5% to $9.5 million or 7% of sales, compared to $14.8 million or 12.7% of sales in the previous year [8] - For the full year 2021, net sales were up 3.9% to $534.5 million from $514.6 million in 2020, with adjusted net income decreasing by 17.1% to $62.1 million [9][13] Business Line Data and Key Metrics Changes - Selling, general and administrative (SG&A) expenses increased by 44.4% to $21.1 million in Q4 2021, with a year-over-year increase of 14.4% when excluding acquisition-related fees [8] - For the full year, SG&A expenses increased by 13.4% to $68.6 million, with SG&A as a percentage of sales increasing to 12% from 11.8% in 2020 [11][12] Market Data and Key Metrics Changes - Total backlog increased by 250% year-over-year and 43% quarter-over-quarter, with organic backlog up 201% year-over-year [28] - Organic bookings in Q4 were up 67% year-over-year, indicating strong demand [29] Company Strategy and Development Direction - The company aims for double-digit organic revenue growth over the next several years, supported by a strong backlog and strategic focus on high-performance energy-efficient HVAC equipment [21][30] - The acquisition of BasX Solutions is expected to generate accelerated growth and attractive returns for shareholders [37] Management's Comments on Operating Environment and Future Outlook - The management highlighted that the industry faced significant challenges over the past year, including rapid inflation and supply chain issues, but expressed optimism about emerging stronger from these challenges [22][27] - Management expects gross margins to recover to 30% or more by the second half of 2022, driven by price increases and improved production rates [53][76] Other Important Information - Capital expenditures for 2022 are expected to be $100.4 million, nearly double the previous year, with a focus on growth-related investments [17][49] - The company reported a working capital balance of $131.3 million and total debt of $40 million as of December 31, 2021 [14] Q&A Session Summary Question: What improvements have been seen in the supply chain? - Management noted significant improvements in supply chain conditions since October, allowing for increased production rates [58][60] Question: Will the company be able to run off the remaining lower-priced backlog in Q1? - Management indicated that a significant portion of production in January was based on higher-priced backlog, with expectations for continued improvement in Q1 [62][64] Question: How are organic order trends expected to change? - Management expressed confidence in strong organic order trends, with trailing 12-month bookings continuing to grow [70] Question: What is the expected impact of the recent price increase? - A 7% price increase was announced, expected to positively impact margins moving forward [71] Question: How has headcount changed in recent months? - Headcount increased by 11% in Oklahoma and 17% in Texas compared to the previous year, indicating growth in workforce [72][75] Question: What are the expectations for gross margins in 2022? - Management expects gross margins to strengthen throughout the year, aiming for a target of 30% or more by year-end [76]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________________ to _____________________________ Commission file number: 0-18953 AAON, INC. (Exact name of registrant as specified in its charter) Nevada 87-044 ...