AAON Reports Record Financial Results for Q2 of FY 2023
August 26, 2023
🌥️Earnings Overview
On August 3, 2023, AAON ($NASDAQ:AAON) shared its financial results for the second quarter of fiscal year 2023, ending June 30, 2023. Their total revenue was USD 284.0 million, a 36.0% increase compared to the same period of the previous year. Additionally, net income grew 186.4% to reach USD 45.7 million.
Stock Price
On Thursday, AAON reported record financial results for the second quarter of FY 2023. The company’s stock opened at $105.1 and closed at $104.1, down 2.3% from the previous closing price of 106.5. The strong financial results have been attributed to the company’s robust product portfolio and increased efficiency due to new technological advancements. AAON has invested heavily in research and development, which has led to the successful launch of several new products in the past year.
This has helped drive growth and increase market share for the company. Overall, AAON’s record performance for the second quarter of FY 2023 signals a strong outlook for the company going forward. With its strong financial position and a diversified product portfolio, AAON is well positioned to remain a strong player in its industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Aaon. aaon&utm_title=AAON_Reports_Record_Financial_Results_for_Q2_of_FY_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 1.05k | 148.87 | 14.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Aaon. aaon&utm_title=AAON_Reports_Record_Financial_Results_for_Q2_of_FY_2023″>More…
| Operations | Investing | Financing |
| 122.84 | -87.27 | -26.11 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Aaon. aaon&utm_title=AAON_Reports_Record_Financial_Results_for_Q2_of_FY_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 930.05 | 269.94 | 12.17 |
Key Ratios Snapshot
Some of the financial key ratios for Aaon are shown below. aaon&utm_title=AAON_Reports_Record_Financial_Results_for_Q2_of_FY_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.0% | 27.3% | 17.4% |
| FCF Margin | ROE | ROA |
| 3.4% | 17.9% | 12.2% |
Analysis
GoodWhale has performed an analysis of AAON‘s fundamentals and concluded that the company has a high health score of 10/10 in regards to its cashflows and debt. This score indicates that AAON is able to pay off its debt and fund future operations. Additionally, AAON is classified as a ‘gorilla’, indicating that the company has achieved stable and high growth in revenue or earnings due to its strong competitive advantage. Due to this analysis, investors may find AAON an attractive investment opportunity as it is strong in asset, dividend, growth, and profitability. The company has a high health score with regard to its cashflows and debt, meaning it is capable of paying off debt and funding future operations. Furthermore, AAON is classified as a type of company that has achieved stable and high growth in revenue or earnings due to its strong competitive advantage. With this in mind, investors may be drawn to AAON due to its potential for consistent returns. More…
Peers
The competition between AAON Inc and its competitors is fierce. Each company is trying to get a leg up on the other by offering better products and services. Kyoritsu Air Tech Inc, Harbin Air Conditioning Co Ltd, and Zhejiang Langdi Group Co Ltd are all major players in the industry, and they are all constantly innovating to stay ahead of the competition.
– Kyoritsu Air Tech Inc ($TSE:5997)
Kyoritsu Air Tech Inc has a market cap of 2.25B as of 2022, a Return on Equity of 4.9%. The company is engaged in the manufacture and sale of air conditioning equipment and related products. The company’s products are used in a variety of industries, including commercial, industrial, and residential. Kyoritsu Air Tech’s products are sold through a network of distributors and dealers in Japan and overseas.
– Harbin Air Conditioning Co Ltd ($SHSE:600202)
Harbin Air Conditioning Co Ltd is a Chinese company that manufactures air conditioners. The company has a market capitalization of 1.97 billion as of 2022 and a return on equity of 4.63%. The company’s products are sold in over 60 countries and regions. Harbin Air Conditioning Co Ltd is a publicly traded company listed on the Shenzhen Stock Exchange.
– Zhejiang Langdi Group Co Ltd ($SHSE:603726)
Zhejiang Langdi Group Co Ltd is a Chinese company that manufactures and sells construction materials. The company has a market cap of 2.88 billion as of 2022 and a return on equity of 7.03%. The company’s products include concrete, bricks, tiles, and other building materials.
Summary
Investors are encouraged to take a closer look at AAON after the company reported strong financial results for the second quarter of fiscal year 2023. Total revenue came in at USD 284.0 million, representing a significant 36.0% year-over-year increase. Net income for the period was reported to be USD 45.7 million, up 186.4% compared to the same period of the previous year.
This is further evidence of AAON’s strong performance and potential upside for shareholders. Going forward, investors should keep an eye on the company’s progress and future developments in its business.
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