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AAON/$AAON

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About AAON

AAON Inc is a manufacturer of air-conditioning and heating equipment. The products include rooftop units, chillers, packaged outdoor mechanical rooms, air-handling units, makeup air units, energy-recovery units, condensing units, geothermal heat pumps, and self-contained units and coils. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It generates the majority of its revenue from the AAON Oklahoma segment which derives maximum revenue, engineers, manufactures, and sells, semi-custom, and custom HVAC systems, designs and manufactures control solutions, and sells retail parts to customers through retail part stores and online.
Ticker
$AAON
Primary listing
NASDAQ
Employees
5,897

AAON Metrics

BasicAdvanced
$6.3B
31.27
$2.44
1.46
$0.40
0.52%

What the Analysts think about AAON

Analyst ratings (Buy, Hold, Sell) for AAON stock.
Analyst projections of the future price of AAON stock.

Bulls say / Bears say

BASX is riding strong data-centre demand: sales rose 218% year on year in the third quarter and its backlog was up 51%, giving AAON substantial near-term work to deliver. (AAON)
AAON’s core business is gaining share despite a soft commercial HVAC market. AAON-branded sales grew 19.6% and its backlog increased 18% year on year in the third quarter. (AAON)
Operating execution is improving: year-to-date operating cash flow rose to $146.9 million from a cash outflow a year earlier, while gross margin improved for a second consecutive quarter. AAON also raised its 2026 sales-growth outlook to 72%–75%. (AAON)
AAON found errors in its first-half results, restated both quarters and disclosed a material weakness in internal controls. The accounting issue raises questions about reporting reliability while remediation is under way. (AAON)
Despite rapid growth, third-quarter gross margin was 26.7%, below 27.8% a year earlier. AAON attributed the decline partly to a larger share of sales coming from newer, less-utilised facilities, so capacity growth has yet to restore prior-year margins. (AAON)
The commercial HVAC market remains soft, and AAON-branded backlog fell 7.6% sequentially in the third quarter. Faster production helped drive the decline, but a weaker order environment could make it harder to sustain growth in the core business. (AAON)
Data summarised monthly by Lightyear AI. Last updated on 10 Nov 2026.

AAON Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

AAON Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
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