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Dec 31, 2022
Aaon Q4 2022 Earnings Report
AAON reported record sales, earnings, and backlog.
Key Takeaways
AAON's Q4 2022 net sales increased by 86.8% to a record $254.6 million, with earnings per diluted share increasing by 545.5% to $0.71. The company finished the quarter with a record backlog of $548.0 million, up 110.6% from the previous year.
Net sales increased 86.8% to a record $254.6 million.
Earnings per diluted share increased 545.5% to $0.71.
Gross profit increased 195.9% to $78.5 million, or 30.8% of sales.
Finished the quarter with a record backlog of $548.0 million, up 110.6%.
Aaon
Aaon
Forward Guidance
AAON is optimistic about achieving another record year of sales and earnings, with production rates and productivity levels continuing to increase, a strong margin profile in the backlog, and positive order trends.
Positive Outlook
- Production rates and productivity levels continue to increase.
- The margin profile of the backlog is the best that it has ever been.
- Order trends remain positive.
- Positioned to achieve another record year of sales and earnings.
- Operations improved significantly throughout the year and are now performing at the highest level in over a year.
Challenges Ahead
- Ongoing challenges of parts shortages.
- Potential changes in raw material and component prices.
- Effects of fluctuations in the commercial/industrial new construction market.
- Changes in interest rates.
- General economic, market or business conditions.