AAON shares jumped in premarket trading Tuesday after the heating and cooling equipment maker reported record quarterly sales and raised its full-year outlook. The stock traded at $72.00 at 9:13 a.m. Eastern time, up $9.13, or 14.5%, from Monday’s close of $62.87. The stock had also risen 9.93% on Monday, before the results were released after the close.
Third-quarter net sales rose 84.1% to $707.4 million from $384.2 million a year earlier, the company said. Sales of its BASX brand rose 218.3% to $397.2 million, and AAON-brand sales rose 19.6% to $310.2 million. Earnings were $0.83 a share, up from $0.37, against the $0.57 analysts expected, according to Zacks Investment Research. Backlog stood at $1.854 billion, up 40.5% from a year earlier.
AAON now expects 2026 sales to grow 72% to 75%, up from its earlier forecast of 55% to 60%.
The company also restated its results for the first and second quarters of 2026 and said those earlier reports should no longer be relied on. It cited errors in how it calculated revenue under the percentage-of-completion method and in its accounting for software subscriptions, and said it had found a material weakness in its internal controls. AAON said it found no evidence of fraud or misconduct. The restatements raised first-half net sales by $10.7 million.
