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AAON AAON

AAON, Inc. engages in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment. It operates through the following segments: Units, Parts-External, Parts-Internal, and Other. Its products include air handling units, self contained units, packaged rooftop units, geothermal heat units, controls, and coils. The company was founded by Norman H. Asbjornson on August 18, 1987 and is headquartered in Tulsa, OK.

AAON stock data

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Calendar

31 Mar 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from AAON earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Apr 21 Norman H Asbjornson Common Stock, par value $.004 Gift Dispose G No No 0 4,000 0 8,539,592
16 Mar 21 Stephen E Wakefield Common Stock, par value $.004 Sell Dispose S No No 74.18 986 73.14K 7,818
12 Mar 21 Asbjornson Scott M Common Stock, par value $.004 Sell Dispose S No No 74.73 19,628 1.47M 847,838
12 Mar 21 Asbjornson Scott M Common Stock, par value $.004 Option exercise Aquire M No No 44.22 5,828 257.71K 867,466
12 Mar 21 Asbjornson Scott M Common Stock, par value $.004 Option exercise Aquire M No No 41.37 13,800 570.91K 861,638
12 Mar 21 Asbjornson Scott M Stock Option Common Stock Option exercise Aquire M No No 74.73 5,828 435.53K 34,968
12 Mar 21 Asbjornson Scott M Stock Option Common Stock Option exercise Aquire M No No 74.73 13,800 1.03M 69,000
11 Mar 21 Gary D Fields Common Stock, par value $.004 Grant Aquire A No No 0 4,524 0 33,978
11 Mar 21 Gary D Fields Common Stock, par value $.004 Payment of exercise Dispose F No No 73.36 454 33.31K 29,454
11 Mar 21 Norman H Asbjornson Common Stock, par value $.004 Grant Aquire A No No 0 1,575 0 8,543,592

Financial report summary

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Management Discussion
  • Our sales increased 9.6%, or $45.2 million mostly due to the increase in rooftop sales which increased by $51.5 million (increase of 15%). The increase in rooftop units sales was due in part to our increased sheet metal production from the additional Salvagnini machines that were placed into operation allowing increased production (1,265 units or 9% unit increase over 2019) and from price increases put in place over the last year.
  • The principal components of cost of sales are labor, raw materials, component costs, factory overhead, freight out, and engineering expense. The principal high volume raw materials used in our manufacturing processes are steel, copper, and aluminum. As shown below, our average raw material prices increased during the year. However, the Company had increased its inventory levels in 2019 and early 2020 at lower prices and was able to benefit from these lower priced raw materials as the stock was consumed in 2020. The Company continues to closely monitor its raw materials prices to try and purchase quantities when there are dips in the market.  The Company improved its labor and overhead efficiencies with our new sheet metal machines that were placed into service in the last quarter of 2019 and early 2020, eliminating any bottlenecks in our sheet metal production. The Company's headcount was also down compared to 2019, resulting in a higher production output per employee.
  • The Company experienced a decrease in warranty claims paid of 15.6% in 2020. Our profit sharing expenses are up due to higher earnings. Salaries & benefits increased due to additional bonuses and employee incentives. Stock compensation was lower because the valuation of the Company-wide equity grant awarded in March 2020 was less than the grant awarded in March 2019. Donations increased due to the contribution of approximately $1.3 million to Winifred, Montana Public Schools in recognition of Norman H. Asbjornson's transition from CEO to Executive Chairman.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Good
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