AAON Q4 EPS $0.30 down 46%; backlog up 70%; authorizes $100M buyback

AAON, INC.

2024-FY EPS reported $2.02 revenue$1,200,635,000

Q4 net sales $297.7M (-2.9% YoY); diluted EPS $0.30 vs $0.56 (-46.4%).
Gross margin fell to 26.1% from 36.4% on lower volumes and growth investments.
Backlog up 70% from end of 2023, driven by BASX data center liquid cooling.
AAON Oklahoma sales down 16.1%; AAON Coil Products up 129.9% on data center gear.
Board authorized up to $100M share repurchase program to be executed in open market.

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