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Stock impact report

AAON REPORTS FIRST QUARTER OF 2024 RESULTS [Yahoo! Finance]

AAON, Inc. (AAON) 
Last aaon, inc. earnings: 2/27 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: aaon.com/investors
Company Research Source: Yahoo! Finance
Net sales for the first quarter of 2024 decreased 1.4% to $262.1 million from $266.0 million in the first quarter of 2023. The year-over-year decline was driven by the AAON Coil Products and BASX segments, which realized respective declines of 27.4% and 9.3%, modestly offset by 4.0% growth at the AAON Oklahoma segment. Total sales volume in the quarter was down 5.7%, while pricing contributed 4.3%. Gross profit margin in the quarter expanded to 35.2%, up from 29.0% in the comparable quarter in 2023. Gross margin expansion was primarily a result of more favorable pricing relative to moderating cost inflation. SG&A expenses as a percent of sales increased to 17.3%, up from 12.4% in the comparable quarter in 2023. On an absolute basis, SG&A expenses were in line with Company expectations, up year-over-year due primarily to higher professional fees and long-term investments. Earnings per diluted share for the three months ended March 31, 2024 , was , up slightly from the first quarte Show less Read more
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