Aaon announces completion of second share repurchase program

Aaon provided an update to the previously disclosed share repurchase programs authorized by its board of directors, noting that its two $50M share repurchase authorizations were completed as of June 4 and June 14, respectively. “We are pleased to announce the completion of our second share repurchase program. This initiative reflects our confidence in the long-term growth prospects of AAON and our ongoing commitment to delivering value to our shareholders. By reducing the number of shares outstanding, we believe we have positioned the Company for increased earnings per share and an enhanced return on equity,” said Gary Fields, CEO. The share repurchase program was financed through a combination of the company’s cash reserves and available credit facility, “without compromising our ability to invest in strategic growth opportunities and maintain a strong balance sheet,” the company added in a press release.