By Katherine Hamilton
AAON shares jumped after the heating and ventilation company raised its full-year outlook.
The stock climbed 29% to $126.24 in premarket trading Thursday. Through Wednesday's close, shares were up 29% this year.
AAON more than doubled its outlook for annual sales growth to 40% to 45%, up from its prior guidance of 18% to 20% growth.
The outlook comes as backlog and demand remain strong, allowing AAON to ramp up production, Chief Executive Matt Tobolski said.
Sales in the first quarter jumped 54% to $496.9 million. The Tulsa, Okla., company was able to increase production throughput thanks to investments in capacity and operational execution, it said.
Total backlog more than doubled to $2.13 billion.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 07, 2026 08:21 ET (12:21 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments