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Aaon (AAON) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 27, 2025
Aaon (AAON) reported revenue of $298M for the fourth quarter 2024 (Q4 2024), -3% from a year earlier and -9% from the quarter before. Operating margin was 9.9%, net earnings $24.7M (8.3% of revenue).
Aaon, Q4 2024: revenue $298M (-3% year over year), operating margin 9.9%, net earnings $24.7M, operating cash flow $845K. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $298M | -9% | -3% |
| Gross profit | $77.6M | -32% | -31% |
| Operating profit | $29.4M | -55% | -54% |
| Net earnings | $24.7M | -53% | -48% |
| Operating cash flow | $845K | -99% | -98% |
What changed
Revenue was $297.7M in Q4 2024, down 3% year over year and down 9% from the previous quarter. AAON Oklahoma was the largest line at 65% of revenue.
Gross margin was 26.1%, down 10.4 points from a year earlier. Operating profit was $29.4M, a 9.9% margin (down 10.9 points year over year). Operating expenses grew 1% against a revenue fall of 3%. Net earnings were $24.7M, down 48% year over year. The effective tax rate was 12.7%.
Operating cash flow was $845K (down 98% year over year), 3% of net earnings. Non-cash charges added back $17.6M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items used $45.3M. Capital expenditures of $96.3M exceeded it, leaving free cash flow of −$95.4M.
Questions
What was Aaon's revenue in the fourth quarter 2024?
Aaon (AAON) reported revenue of $298M for the fourth quarter 2024 (Q4 2024), -3% from a year earlier and -9% from the quarter before.
Was Aaon profitable in the fourth quarter 2024?
Operating profit was $29.4M (9.9% of revenue) and net earnings $24.7M.
Source: Aaon 10-K on SEC EDGAR.