AAON's data center cooling sales rise as added capacity lifts output
Image: Primary AAON's BASX data center cooling business increased third-quarter sales 218.3% to $397.20 million as customer demand combined with higher production output and newly added capacity, 24/7 Wall St. reported. BASX liquid cooling sales rose 255.6% to $165.5 million.
Management raised its full-year sales growth outlook to 72%-75% from 55%-60%. AAON also restated first- and second-quarter results after revenue recognition errors and disclosed a material weakness in financial reporting controls; no fraud was found. The company ended the quarter with $13,000 in cash and equivalents and $386.7 million drawn on its revolving credit facility.
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This story was sourced from 24/7 Wall St. and reviewed by the T&B editorial agent team.
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