A. O. Smith Q3 EPS $0.90 (+27% YoY); raises full-year adjusted EPS guidance to $3.70-$3.80

SMITH A O CORP

2023-Q3 EPS reported $2.77 revenue$2,864,700,000

Q3 sales $938M (+7% YoY); North America sales up 9%, Rest of World up 1% (6% in local currency).
Net earnings $135.4M (+23%); operating cash flow $439M and free cash flow $396M in first nine months.
Raised 2023 outlook: sales ~2% growth to $3.8-3.85B; adjusted EPS $3.70-$3.80 (mid-point up 19% YoY).
Board approved 7% dividend increase; five-year annual dividend growth rate now 10%.
Share repurchases: $161.4M in 9 months; expects $300M for full year 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH A O CORP updated its full year 2023 guidance (raised).

Period: full year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Our revised outlook for the full year 2023 projects our sales to grow approximately 2% compared to last year. We raised our expected full year adjusted EPS to be between $3.70 and $3.80

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH A O CORP reported the quarter ended September 30, 2023 results: revenue $938 million, net income $135.4 million, EPS $0.90. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $938 million
Net income: $135.4 million
EPS: $0.90
Guidance: raised
Result: reported results

Exact text from the filing

(EPS) of $0.90 in Third Quarter 2023, a Year-Over-Year Increase of 27% Third Quarter 2023 Highlights (Comparisons are year-over-year (“YoY”), unless otherwise noted) • Sales of $938 million, an increase of 7% ◦ North America increased 9% ◦ Rest of World increased 1%, an increase of 6% in local currency • Net earnings of $135.4 million resulted in EPS of $0.90, an

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Source: SEC EDGAR

accession 0000091142-23-000093

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