Aaon reports Q2 non-GAAP EPS 22c, consensus 33c

Reports Q2 revenue $311.6M, consensus $324.98M. “Our Q2 results fell short of our expectations and do not reflect the high standards we set for ourselves as an organization,” said CEO Matt Tobolski. “We strive to be a best-in-class operator and these results do not reflect that. The underperformance was primarily driven by poor operational execution, mainly associated with the implementation of our new ERP system at our Longview, Tex. facility. The April go-live of the new system directly impacted production of both finished products and coils at Longview. Since Longview supplies coils to our Tulsa, Okla. facility, this also limited Tulsa’s expected production ramp. We are taking immediate and targeted actions to address these issues, strengthen execution, and ensure we are better positioned to deliver consistent results in the future. I want to emphasize that our investment in the ERP system is critical to the company’s long-term success and future growth. While the implementation has presented short-term challenges, we remain fully committed to this investment and confident in the long-term value it will bring to our operations. We are equally committed to transparency and intend to provide clear, timely updates-especially in the near term-as we communicate our expectations and track our progress.”