earnings
confidence high
sentiment positive
materiality 0.70
AAON Q3 2024 sales hit record $327M; EPS up 8.6% to $0.63; gross margin contracts 230bps
AAON, INC.
2024-Q3 EPS reported
$1.72
revenue$902,917,000
- Net sales $327.3M (+4.9% YoY) record; BASX +58.8%, Coil Products +36.7%, Oklahoma -7.1%.
- GAAP diluted EPS $0.63 (+8.6%); adjusted EPS $0.63 (-1.6%); net income $52.6M (+9.5%).
- Gross margin 34.9% vs 37.2% (-230bps) from lower Oklahoma volumes and BASX inefficiencies.
- SG&A: elevated depreciation offset by absence of $7.5M settlement from Q3 2023.