A. O. Smith reports preliminary Q3 sales down 4%, EPS down 9%; lowers FY 2024 EPS guidance to $3.70-$3.85

SMITH A O CORP

2024-Q3 EPS reported $2.87 revenue$2,905,700,000

Preliminary Q3 sales $902.6M, down 4% YoY; diluted EPS $0.82, down 9% YoY.
FY 2024 EPS guidance lowered to $3.70-$3.85 from prior $3.95-$4.10; sales outlook ~flat at $3.8-$3.9B.
China third-party constant currency sales declined 17% YoY; India sales up 12% in local currency.
North America segment sales $703M slightly down; lower water heater volumes offset by higher boiler/water treatment.
Board approved 6% dividend increase; over 30 years of dividend increases.

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