A. O. Smith Q3 sales $903M, EPS $0.82; reaffirms lowered 2024 EPS guidance

SMITH A O CORP

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

Net sales $902.6M (-4% YoY); net earnings $120.2M (-11%); diluted EPS $0.82 (-9%).
North America segment sales $703.3M (-1%); Rest of World sales $210.3M (-10%) with China down 17% in local currency.
Reaffirms revised 2024 EPS outlook of $3.70-$3.85, citing persistent China weakness and softer North America demand.
Board approved 6% dividend increase; 32 consecutive years of increases; $300M share repurchase expected in 2024.
Pureit acquisition from Unilever for $120M on track to close by end of 2024.

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