AAON, Inc. (AAON) Tops Q1 EPS by 6c
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AAON Reports Earnings, Record Sales & Backlog For the First Quarter of 2022
May 5, 2022 4:01 PM EDTTULSA, Okla., May 05, 2022 (GLOBE NEWSWIRE) -- AAON, INC. (NASDAQ-AAON), a leader in innovation and production of premium quality, highly energy efficient HVAC equipment for nonresidential buildings, today announced its results for the first quarter of 2022.
Net sales for the first quarter of 2022 increased 57.8% to $182.8 million from $115.8 million in the first quarter of 2021. Organic volume growth contributed approximately 21.3% to net sales in the quarter and the addition of BasX Solutions added 18.1%, with the rest of the growth coming from price increases. Despite the robust growth in net sales, gross profit contracted 340 basis points to 25.2%. Gross profit was... More
