By Kelly Cloonan
Shares of AAON declined after the company said it expects weaker second-quarter results than its previous guidance.
The stock fell 15% to $80.29 on Tuesday. Shares have declined 32% so far this year.
The manufacturer of heating, ventilation, and air conditioning equipment on Tuesday said it anticipates softer results in the current quarter compared to its prior outlook due to disruptions related to its new enterprise resource planning, or ERP, strategy.
AAON now plans to go live site by site with its ERP, which caused disruptions and slower production at its facility in Longview, Texas, Chief Financial Officer Rebecca Thompson said during the investor day presentation.
AAON previously guided for sales and earnings to rise slightly from the first quarter.
AAON backed its full-year outlook, guiding for mid- to high-teens sales growth. Analysts polled by FactSet forecast sales at the top end of that range, modeling $1.43 billion, or up 19% from a year ago.
The company also backed its three-year targets for average annual organic sales growth of 12.5% or more, with sales in its AAON business up mid-single digits and its BASX unit up around 40%.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
June 10, 2025 15:06 ET (19:06 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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