A. O. Smith Q1 adjusted EPS $0.94, up 22% YoY; raises 2023 outlook

SMITH A O CORP

2023-Q1 EPS reported $0.84 revenue$966,400,000

Net sales $966.4M (-1% YoY); North America +3%, Rest of World -14% (-8% LC).
Record Q1 GAAP EPS $0.84 (+11%); adjusted EPS $0.94 (+22%) on lower steel costs.
Raised 2023 guidance: adj. EPS $3.30-$3.50 (mid-point +8% YoY); sales flat +/-2%.
Share repurchase outlook increased by $100M to $300M for 2023.
Declared $0.30/share dividend (payable May 15), marking 83 consecutive years.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SMITH A O CORP reported the quarter ended March 31, 2023 results: revenue $966.4 million, net income $126.9 million, EPS $0.84. Guidance raised.

Period: the quarter ended March 31, 2023
Revenue: $966.4 million
Net income: $126.9 million
EPS: $0.84
Guidance: raised
Result: reported results

Exact text from the filing

27, 2023 A. O. Smith Reports Strong First Quarter 2023 Performance First Quarter 2023 Highlights (Comparisons are year-over-year (“YoY”), unless otherwise noted) • Sales of $966 million, a decrease of 1% ◦ North America increased 3% year over year ◦ Rest of World decreased 14% year over year, a decrease of 8% in local currency • Net earnings of $126.9 million

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SMITH A O CORP filing history →

Source: SEC EDGAR

accession 0000091142-23-000058

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