A.O.Smith Corp

AOS

Equity

ISIN US8318652091 / Valor 970993

New York Stock Exchange, Inc (2024-12-26)

USD 68.89%

A.O.Smith Corp
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About company

A.O. Smith Corp, founded in 1874 and headquartered in Milwaukee, Wisconsin, is a global leader in the manufacturing of residential and commercial water heaters and boilers. With operations in multiple countries and sales and distribution in over 60 countries worldwide, the company employs over 12,000 individuals. A.O. Smith focuses on applying innovative technology and energy-efficient solutions to its products, with a goal of being a leading global water technology company. The company's product line includes well-known brands in North America, China, India, Vietnam, and Europe, with a special emphasis on water filtration and softening products available through local wholesalers.

Summarized from source with an LLMView SourceSector: Business Services

Sales Performance

A.O. Smith Corp reported sales of $903 million for the third quarter of 2024, marking a 4% decrease compared to the same period in the previous year. This decline was primarily driven by lower sales in China and reduced volumes of water heaters in North America.

Net Earnings

The company recorded net earnings of $120 million in the third quarter of 2024, which represents an 11% decrease from the previous year. This decline in earnings reflects the challenges faced in key markets, particularly in China and North America.

Earnings Per Share

A.O. Smith Corp's diluted earnings per share (EPS) for the third quarter of 2024 was $0.82, a decrease of 9% compared to the same quarter in 2023. Despite the decrease, the company reaffirmed its revised EPS outlook for 2024, ranging from $3.70 to $3.85.

Dividend Increase

The company announced a 6% increase in its dividend, continuing its long-standing tradition of increasing dividends for 32 consecutive years. This decision reflects A.O. Smith Corp's commitment to returning capital to its shareholders.

Outlook for 2024

A.O. Smith Corp reaffirmed its 2024 outlook, projecting net sales to be approximately flat compared to 2023, with a full-year EPS expected to range between $3.70 and $3.85. The company remains cautious about consumer demand in China and North America for the remainder of the year.

Summarized from source with an LLMView Source

Key figures

-15.8%1Y

-16.8%3Y

44.3%5Y

Performance

24.1%1Y

27.9%3Y

30.1%5Y

Volatility