Welcome to our dedicated page for A.O. Smith Corporation news (Ticker: AOS), a resource for investors and traders seeking the latest updates and insights on A.O. Smith Corporation stock.
A.O. Smith Corporation (NYSE: AOS) stands as one of the global leaders in the production of residential and commercial water heaters and boilers. Founded in 1874 and headquartered in Milwaukee, Wisconsin, the company has expanded its footprint to over 60 countries. A.O. Smith employs approximately 16,100 individuals across its operations in the United States, Canada, Mexico, China, India, the United Kingdom, the Netherlands, and Turkey, ensuring a global reach to meet diverse customer needs.
The company’s primary product offerings include residential and commercial gas, gas tankless, and electric water heaters, along with condensing and non-condensing boilers and water system tanks. A.O. Smith operates through two segments: North America, which accounts for the majority of its revenue, and the Rest of the World, predominantly focusing on Asian markets. The company's products are known for their innovative technology and energy-efficient solutions.
Recent milestones highlight the company's financial growth and strategic initiatives. A.O. Smith reported a 7% year-over-year increase in third-quarter 2023 sales, totaling $938 million. The company also raised its 2023 outlook, expecting sales growth of 2% compared to 2022 and adjusted EPS between $3.70 and $3.80. On the governance front, the board approved a 7% increase in the quarterly dividend rate to $0.32 per share, reflecting confidence in the company's stable demand and focus on shareholder returns.
In terms of innovation, A.O. Smith continues to enhance its product portfolio with new developments, particularly in China and India. The company recently introduced kitchen appliance products in China, contributing to a 6% local currency sales increase. India operations also saw significant growth with a 13% local currency sales increase.
Financial stability remains a cornerstone for A.O. Smith, with a strong balance sheet and robust cash flows. As of the third quarter of 2023, the company boasted cash and marketable securities of $341.8 million and a leverage ratio of 6.4%. The company’s commitment to returning capital to shareholders includes repurchasing approximately 2.4 million shares for $161.4 million in the first nine months of 2023.
Looking ahead, A.O. Smith projects continued growth, underpinned by resilient demand in North America and expanding markets in Asia. The company’s strategic focus remains on new product development, global expansion, and maintaining a strong financial position to support its growth ambitions.
A. O. Smith Corporation (NYSE: AOS) reported record sales of $3.8 billion for 2022, a 6% YoY increase, despite challenges in the water heater market. Net earnings dropped 52% to $235.7 million, leading to a 50% decline in diluted EPS to $1.51. Adjusted earnings rose 6% to $488.7 million, with adjusted EPS reaching $3.14. Looking ahead, sales for 2023 are forecasted to be flat compared to 2022, with EPS guidance between $3.15 and $3.45. The company emphasizes improved profitability and strategic capital allocation for growth amid ongoing supply chain and market challenges.
A. O. Smith Corporation (NYSE: AOS) has declared a regular quarterly cash dividend of $.30 per share on its Common Stock and Class A Common Stock. This dividend is scheduled to be paid on February 15, 2023, to shareholders on record as of January 31, 2023. The company, based in Milwaukee, Wisconsin, specializes in innovative technology and energy-efficient solutions in the manufacturing of water heating and treatment products, positioning itself as a global leader in the industry.
A. O. Smith Corporation (NYSE: AOS) will release its fourth quarter 2022 financial results on January 31, 2023, before market opening. Following this, an investor conference call is scheduled for 10:00 a.m. (EDT). Investors can access the call live on the company’s website, with a replay available afterward. A. O. Smith, based in Milwaukee, Wisconsin, is a global leader in innovative, energy-efficient water heating and treatment solutions.
A. O. Smith Corporation (AOS) reported Q3 2022 net sales of $874.2 million, down 4% YoY, with net earnings declining by 17% to $109.8 million. Diluted EPS was $0.71, a decrease of 13%. Adjusted EPS was $0.69, reflecting a 15% drop. The company reaffirmed its revised 2022 EPS guidance of $1.29 to $1.39 and adjusted EPS guidance of $3.05 to $3.15. North America sales were flat at $652.9 million, while international sales decreased by 13%. Upcoming pension plan settlements are expected to impact financials significantly in Q4.
Global water technology company A. O. Smith Corporation (NYSE: AOS) reported preliminary Q3 2022 sales of $874 million, a 4% decline YoY, primarily due to inventory de-stocking in North America residential water heaters. Preliminary EPS decreased by 13% to $0.71, with adjusted EPS at $0.69, down 15%. The full-year residential water heater industry guidance was lowered to a decrease of 12-13%. Revised EPS guidance ranges between $1.29 and $1.39, while adjusted EPS is now expected between $3.05 and $3.15. The dividend increased by 7%, continuing 25 years of annual growth.
A. O. Smith Corporation (NYSE: AOS) has announced a 7% increase in its quarterly cash dividend to $0.30 per share, effective for shareholders of record by October 31, 2022. The dividend will be payable on November 15, 2022. CEO Kevin J. Wheeler highlighted the company's confidence in stable replacement demand in its water heating and boiler sectors, with a compound annual growth rate of over 15% for dividends over the past five years, indicating a commitment to returning capital to shareholders.
A. O. Smith Corporation (NYSE: AOS) will release its third quarter 2022 financial results on October 27, before market open. Following the release, an investor conference call is scheduled for 10:00 a.m. (Eastern Daylight Time). The call will be available live on their website, with an audio replay accessible afterward. A. O. Smith is a leader in manufacturing water heating equipment and treatment products, focusing on innovative technology and energy-efficient solutions. For more details, visit www.aosmith.com.
A. O. Smith reported second quarter 2022 results with net sales of $966 million, a 12% increase year-over-year, primarily due to inflation-related pricing actions. Net earnings reached $126.2 million (+7%) and earnings per share (EPS) rose to $0.81 (+11%). The company reaffirmed its EPS guidance for 2022 between $1.56 and $1.76. Challenges included lower residential water heater volumes in North America and headwinds in China. The company’s capital allocation focused on a $400 million share repurchase program and a $0.28 dividend declaration.
A. O. Smith Corporation (NYSE: AOS) appointed Noelle Brigham as its new Environmental, Social and Governance (ESG) Director on July 25, 2022. With over 20 years of experience in sustainability and environmental engineering, Brigham will lead the company's ESG initiatives, developing strategies to integrate sustainability into business operations. Previously, she held a significant role at S. C. Johnson & Son, and she is currently completing her PhD at Marquette University. A. O. Smith aims to strengthen its sustainability commitments under Brigham's leadership.
FAQ
What is the current stock price of A.O. Smith Corporation (AOS)?
What is the market cap of A.O. Smith Corporation (AOS)?
What does A.O. Smith Corporation specialize in?
Where is A.O. Smith Corporation headquartered?
How many people does A.O. Smith employ?
In which countries does A.O. Smith operate?
What are the recent financial achievements of A.O. Smith?
Has A.O. Smith increased its dividend recently?
How is A.O. Smith performing in Asian markets?
What is A.O. Smith's strategy for future growth?
What is the financial condition of A.O. Smith?
How does A.O. Smith plan to return capital to shareholders?
