AAON, Inc. (NASDAQ:AAON) Q2 2022 Earnings Conference Call August 8, 2022 5:15 PM ET

Company Participants

Joe Mondillo - Director, Investor Relations

Rebecca Thompson - Chief Financial Officer & Treasurer

Gary Fields - President & Chief Executive Officer

Conference Call Participants

Julio Romero - Sidoti & Company

Brent Thielman - D.A. Davidson

Jon Braatz - Kansas City Capital

Operator

Good day, and welcome to the AAON Inc. Second Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Joe Mondillo, Director of Investor Relations. Please go ahead, sir.

Joe Mondillo

Thank you, operator, and good afternoon, everyone. A press release announcing our second quarter 2022 financial results was issued after market close today and can be found on our corporate website aaon.com.

Joining me on the call this afternoon is Gary Fields, our President and CEO; and Rebecca Thompson, our CFO and Treasurer. Shortly, I’ll be handing the call off to Rebecca, for her to go through the second quarter results. Gary will then provide further insight on the quarter along with commentary on our outlook, and then we’ll open up the call for Q&A. Prior to that though, we begin with our customary forward-looking statement policy.

During the call any statement presented dealing with information that is not historical is considered forward-looking and made pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995, the Securities Act of 1933 and the Securities Exchange Act of 1934, each as amended. As such, it is subject to the occurrence of many events outside of AAON’s control that could cause AAON’s results to differ materially from those anticipated. You are all aware of the inherent difficulties, risks and uncertainties in making predictive statements.

Our press release and Form 10-Q that we filed this afternoon details some of the important risk factors that may cause our actual results to differ from those in our predictions. Please note, that we do not have the duty to update our forward-looking statements.

And with that, I’ll turn the call over to Rebecca.

Rebecca Thompson

Thank you, Joe. I'd like to begin by discussing the comparative results for the three months ended June 30, 2022 versus June 30, 2021. Net sales increased 45.1% and to $208.8 million from $143.9 million. The addition of basic sales of $24.6 million was the largest contributing factor to our growth.