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AAON Announces Share Repurchase Program Updates
TULSA, Okla., June 17, 2024 /PRNewswire/ -- AAON, Inc. (NASDAQ: AAON) ("AAON" or the "Company"), provided an update to the previously disclosed share
About this update from Aaon, Inc.
[{"type":"text","content":"TULSA, Okla., June 17, 2024 /PRNewswire/ -- AAON, Inc. (NASDAQ: AAON) (\"AAON\" or the \"Company\"), provided an update to the previously disclosed share repurchase programs authorized by our Board of Directors. As of June 17, 2024, our repurchase activity under the programs is as follows:\n\n \n \n \n \n \n \n\n \nEffective \nDate\nShares \nRepurchased\nAuthorized and\nRepurchased $\nAverage Price\nPer Share $\nCompletion \nDate\nFebruary 27, 2024\n671,230\n$50.0 million1\n$74.49\nJune 4, 2024\nJune 4, 2024\n682,334\n$50.0 million2\n$73.28\nJune 14, 2024\n1 Repurchases made in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.\n2 Repurchases made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended.\n\"We are pleased to announce the completion of our second share repurchase program,\" said Gary Fields, CEO. \"This initiative reflects our confidence in the long-term growth prospects of AAON and our ongoing commitment to delivering value to our shareholders. By reducing the number of shares outstanding, we believe we have positioned the Company for increased earnings per share and an enhanced return on equity.\"\nThe share repurchase program was financed through a combination of the Company's cash reserves and available credit facility, without compromising our ability to invest in strategic growth opportunities and maintain a strong balance sheet.\nAbout AAONFounded in 1988, AAON is a world leader in HVAC solutions for commercial and industrial indoor environments. The Company's industry-leading approach to designing and manufacturing highly configurable equipment to meet exact needs creates a premier ownership experience with greater efficiency, performance and long-term value. AAON is headquartered in Tulsa, Oklahoma, where its world-class innovation center and testing lab allows AAON engineers to continuously push boundaries and advance the industry. For more information, please visit www.AAON.com.\nForward-Looking StatementsThis press release includes \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as \"expects\", \"anticipates\", \"intends\", \"plans\", \"believes\", \"seeks\", \"estimates\", \"should\", \"will\", and variations of such words and similar expressions are intended to identify such fo...