Aaon (AAON) Tops Q2 Earnings and Revenue Estimates

Company Performance - Aaon reported quarterly earnings of $0.62 per share, exceeding the Zacks Consensus Estimate of $0.54 per share, and up from $0.55 per share a year ago, representing an earnings surprise of 14.81% [1] - The company achieved revenues of $313.57 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 9.88%, compared to $283.96 million in the same quarter last year [1] - Over the last four quarters, Aaon has surpassed consensus EPS estimates three times and topped consensus revenue estimates once [1] Stock Outlook - Aaon shares have increased approximately 19.9% since the beginning of the year, outperforming the S&P 500's gain of 15.8% [2] - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $330.69 million, and for the current fiscal year, it is $2.24 on revenues of $1.2 billion [4] Industry Context - The Building Products - Air Conditioner and Heating industry, to which Aaon belongs, is currently ranked in the top 3% of over 250 Zacks industries, indicating strong performance potential [5] - The AZEK Company, another player in the same industry, is expected to report quarterly earnings of $0.36 per share, reflecting a year-over-year increase of 20%, with revenues projected at $397.43 million, up 2.6% from the previous year [5][6]