AAON projects flattish 2024 with robust growth returning 2025-2027; 2023 revenue $1.2B, EPS $2.13

AAON, INC.

2023 revenue $1.2B (+31.4% YoY), diluted EPS $2.13 (+71.8%), EBITDA margin 23.5%.
2024 expected flattish due to tough comparisons, slower macro, and refrigeration transition delays.
Data center revenue $101M in 2023; addressable market ~20x that, growing ~20% annually.
Employee count ~3,965 as of June 4, 2024; manufacturing space 3.1M sq ft across 4 locations.
Company cites data center, cold climate heat pumps, and cost competitiveness for 2025-2027 growth.

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