earnings
confidence high
sentiment positive
materiality 0.65
A.O. Smith Q2 sales +12% to $966M, EPS $0.81, reaffirms 2022 adj EPS $3.35-$3.55
SMITH A O CORP
2022-Q2 EPS reported
$1.56
revenue$1,943,600,000
- Net sales $965.9M (+12% YoY), net earnings $126.2M (+7%), diluted EPS $0.81 (+11%).
- North America segment sales $744.1M (+23%) on pricing; Rest of World $229.9M (-13%) on China COVID lockdowns.
- Adjusted EPS $0.82 (+14%); reaffirms FY2022 adjusted EPS guidance $3.35-$3.55 (midpoint +17% YoY).
- Expects ~$445M non-cash pension settlement expense in Q4 2022 from plan termination.
- Repurchased 2.87M shares for $190.4M in H1 2022; board declares $0.28 dividend payable Aug 15.