Shares of AAON (NASDAQ:AAON) leaped 19% on Tuesday after the heating, ventilation, and air conditioning (HVAC) equipment maker boosted its full-year growth forecast.
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Business is booming
AAON’s net sales soared 84% year over year to $707 million in the third quarter.
Growth in the company’s artificial intelligence (AI)-focused BASX segment was particularly robust, with net sales up a whopping 207% to $231 million.
AAON’s high-performance thermal management solutions help to keep data centers cool. The HVAC infrastructure supplier has been ramping up its manufacturing capacity to meet the surging demand for its products.
“Compute density is increasing, power availability remains constrained, efficiency matters more, and thermal management becomes increasingly more important as these systems become more power dense,” CEO Matt Tobolski said during a conference call with analysts.
AAON’s impressive sales growth, combined with its cost-containment initiatives, drove its profit margins higher. Operating income rocketed 129% to $100 million, while adjusted earnings per share climbed 124% to $0.83.
AI-driven growth is set to continue
These strong results prompted AAON to lift its full-year guidance. Management now sees net sales growing by 72% to 75% in 2026, up from a prior forecast of 55% to 60%.
“Customer engagement remains strong, our opportunity pipeline is healthy, and we continue to strengthen our position with strategic data center customers,” CEO Matt Tobolski said.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aaon. The Motley Fool has a disclosure policy.
