AAON, Inc. (AAON) Misses Q4 EPS by 10c
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AAON Reports Sales and Earnings and Backlog for 2021
February 28, 2022 4:01 PM ESTTULSA, Okla., Feb. 28, 2022 (GLOBE NEWSWIRE) -- AAON, INC. (NASDAQ-AAON), a leader in innovation and production of premium quality, highly energy efficient HVAC products for nonresidential buildings, today announced its results for the fourth quarter of 2021.
AAON reported record fourth quarter revenue of $136.3 million, up 16.8% from the prior-year quarter. Price increases contributed approximately 10.0% to revenue growth in the quarter. However, gross profit declined 21.7% to $26.5 million, or 19.5% of sales. Gross profit was impacted by supply chain issues, which constrained production, led to operational inefficiencies and unabsorbed fixed costs, and exacerbated the adverse effects of... More
