A. O. Smith Q1 EPS $1.00 up 19% YoY; reaffirms FY2024 guidance

SMITH A O CORP

2024-Q1 EPS reported $1.00 revenue$978,800,000

EPS of $1.00 (GAAP and adjusted), up 19% YoY on sales of $979M (+1%).
North America segment margin 25.9% up 80bps from 25.1% on mix shift to high-efficiency water heaters.
Rest of World sales +4% with China +6% local currency and India +16%.
Free cash flow $84.6M; repurchased $74.5M in shares and declared $0.32 dividend.
Reaffirmed FY2024 EPS guidance $3.90-$4.15 and sales growth 3%-5%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH A O CORP reported the quarter ended March 31, 2024 results: revenue $978.8 million, net income $147.6 million, EPS $1.00. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $978.8 million
Net income: $147.6 million
EPS: $1.00
Guidance: reaffirmed
Result: reported results

Exact text from the filing

April 25, 2024 A. O. Smith Reports Strong First Quarter Performance First Quarter 2024 Highlights (Comparisons are year-over-year (“YoY”), unless otherwise noted) • Sales of $979 million, an increase of 1% • Earnings per share (EPS) of $1.00, a YoY increase of 19% and an increase of 6% compared to prior year adjusted EPS • Strong operating cash flow of $107

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Source: SEC EDGAR

accession 0000091142-24-000130

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