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    John Ratz

    Senior Vice President and Analyst at Kansas Capital

    John Ratz is a Senior Vice President and Analyst at Kansas Capital Management, specializing in small- and mid-cap equity research with an emphasis on industrials and technology sectors. He actively covers a range of publicly traded companies, including names like Garmin, Spirit AeroSystems, NIC Inc., and Westar Energy, and has demonstrated a strong track record through rigorous fundamental analysis and portfolio outperformance, consistently generating positive alpha for clients. John began his financial career in the early 2000s, previously holding research roles at financial institutions such as RBC Capital Markets and George K. Baum & Company before joining Kansas Capital in 2011. He holds FINRA Series 7, 63, and 86/87 licenses and is recognized for his diligent investment approach and client-focused analysis.

    John Ratz's questions to AAON (AAON) leadership

    John Ratz's questions to AAON (AAON) leadership • Q2 2025

    Question

    John Ratz asked for insight into the P&L impact of the Memphis facility in 2026 versus 2025, clarification on the company's plan for providing 'regular updates' on the ERP implementation, and the outlook for working capital investment in the second half of the year.

    Answer

    CEO Matt Tobolski projected that the Memphis facility would transition from a cost drag in 2025 to a positive financial contributor in 2026 as revenue ramps up. Director of IR Joseph Mondillo stated that 'regular updates' on the ERP would be provided as significant milestones are hit. CFO Rebecca Thompson anticipated that working capital needs would continue in H2 to support growth but should begin to ease by the back half of the year.

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