Aaon reports Q3 GAAP EPS 37c, consensus 32c

Reports Q3 revenue $384.2M, consensus $337.53M. Record backlog of $1.32B up year-over-year 103.8% and up sequentially 18.1%. “Our third quarter results demonstrate the enduring demand for our products and reflect continued share gains, margin improvement and steady progress toward our operational goals, with notable sequential improvement in several key areas,” said AAON (AAON) President and CEO Matt Tobolski. “Most notably, we achieved significant gains in production throughput at our Longview, Texas, facility, reflecting continued progress implementing our new ERP system. Production of AAON-branded equipment at the Longview facility improved each month during the quarter, reaching 90% of target in September and exceeding that level in October. Operational gains at both facilities contributed to an 28.1% increase in AAON-branded equipment sales from the prior quarter.”