A.O. Smith (AOS) came out with quarterly earnings of $1.06 per share, missing the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $1.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.93%. A quarter ago, it was expected that this maker of water heaters and boilers would post earnings of $0.99 per share when it actually produced earnings of $1, delivering a surprise of 1.01%.Over the last four quart ...

Exhibit 99.1 News Release Media Relations: Curt Selby 414-359-4191 curt.selby@aosmith.com | --- | |-------| | | | | FOR IMMEDIATE RELEASE July 23, 2024 A. O. Smith Reports Record Sales in the Second Quarter Second Quarter 2024 Highlights (Comparisons are year-over-year ("YoY"), unless otherwise noted) • Record sales of $1 billion, an increase of 7%, driven by higher water heater volumes • Diluted earnings per share (EPS) of $1.06, a YoY increase of 2% and an increase of 5% compared to prior year adjusted EP ...

Second Quarter 2024 Highlights(Comparisons are year-over-year ("YoY"), unless otherwise noted)Record sales of $1 billion, an increase of 7%, driven by higher water heater volumesDiluted earnings per share (EPS) of $1.06, a YoY increase of 2% and an increase of 5% compared to prior year adjusted EPS Reaffirm 2024 sales outlook of an increase of 3% to 5%Narrow EPS guidance to a range of between $3.95 and $4.10Recently announced Pureit acquisition expected to close by the end of 2024MILWAUKEE, July 23, 2024 /P ...

Core Viewpoint - The Industrial Products sector is expected to experience a 7.4% decline in earnings for Q2 2024, driven by a 2.2% decrease in revenues, with several major companies set to report earnings this week [1] Group 1: Sector Performance - The contraction in the U.S. manufacturing sector is reflected in the Industrial Products sector's results, with the Institute for Supply Management's manufacturing index at 48.5% in June 2024, indicating a decline from previous months [2] - Demand remains subdued as companies are hesitant to make capital investments due to current monetary policies, with the New Orders Index also below 50, although it showed slight improvement to 49.3% in June [2] - The Production index fell to 48.5% in June after two months of expansion, with companies reducing production levels due to weak order rates and declining backlog levels [3] Group 2: Specific Industry Insights - Certain areas within the sector, such as Primary Metals and Petroleum & Coal Products, have shown stable demand, while packaging demand for food and e-commerce has also remained strong [4] - Mining output increased at an annual rate of 3.4% in Q2, benefiting companies in mining and construction equipment manufacturing, although agricultural equipment makers faced challenges due to low agricultural commodity prices [4] Group 3: Cost and Margin Challenges - The sector is facing cost inflation, particularly in fuel, natural gas, aluminum, and plastics, which is expected to impact margins despite cost-control measures [5] Group 4: Company-Specific Earnings Predictions - Dover Corporation (DOV) is expected to report earnings of $2.21 per share, reflecting a 7.8% year-over-year growth, with revenues estimated at $2.15 billion, a 2.2% increase [7] - Avery Dennison (AVY) is projected to have earnings of $2.25 per share, indicating a 17% year-over-year increase, with revenues expected at $2.18 billion, suggesting 4.4% growth [9] - Packaging Corporation of America (PKG) is anticipated to report earnings of $2.11 per share, an 8.7% decline year-over-year, with revenues estimated at $2.03 billion, indicating 4% growth [10] - Pentair (PNR) is expected to have earnings of $1.15 per share, suggesting an 11.7% year-over-year growth, with revenues projected at $1.09 billion, indicating a 0.8% increase [11] - A. O. Smith (AOS) is forecasted to report earnings of $1.06 per share, a 5% year-over-year increase, with revenues estimated at $990 million, reflecting a 3% growth [13]

A. O. Smith Corporation (AOS) is likely to witness top and bottom-line growth when it reports second-quarter 2024 results on Jul 23, before the opening bell. The Zacks Consensus Estimate for revenues is pegged at $990 million, which indicates growth of 3% from the year-ago quarter’s reported figure.The consensus mark for earnings is pinned at $1.06 per share, which has remained steady in the past 60 days. The estimate indicates a jump of 5% from the figure reported in the year-ago quarter. The company’s bot ...

Core Insights - Three stocks in the industrials sector are identified as potentially overbought, indicating a warning for momentum-focused investors [1] Group 1: Gates Industrial Corporation PLC (GTES) - Gates Industrial is set to release its second-quarter earnings on July 31, 2024 [2] - The stock has increased approximately 12% over the past five days, reaching a 52-week high of $17.98 [2] - The RSI value for Gates Industrial is 74.86, indicating overbought conditions [2] - The stock closed at $16.97 after a 4.3% gain on Tuesday [2] Group 2: Fluor Corp (FLR) - Truist Securities analyst maintained a Buy rating for Fluor and raised the price target from $47 to $54 [3] - The stock has gained around 14% over the past five days, with a 52-week high of $50.63 [3] - The RSI value for Fluor is 80.06, suggesting it is significantly overbought [3] - The stock closed at $50.26 after a 3.7% increase on Tuesday [3] Group 3: A. O. Smith Corp (AOS) - A. O. Smith announced an agreement to acquire Pureit from Unilever, aiming to enhance its market position in water treatment products [4] - The stock has risen approximately 13% over the past five days, reaching a 52-week high of $92.14 [4] - The RSI value for A. O. Smith is 76.88, indicating overbought status [4] - The stock closed at $91.98 after a 4.8% gain on Tuesday [4]

Company Performance - A.O. Smith (AOS) has achieved a year-to-date return of approximately 6.5%, outperforming the average gain of 5.9% in the Industrial Products sector [2] - The Zacks Consensus Estimate for AOS' full-year earnings has remained unchanged over the past quarter, indicating stable analyst sentiment [2] - A.O. Smith holds a Zacks Rank of 2 (Buy), suggesting a favorable outlook for the stock [1][2] Industry Comparison - A.O. Smith is part of the Manufacturing - Electronics industry, which has seen an average gain of 17.9% this year, indicating that AOS is slightly underperforming its industry [3] - Donaldson (DCI), another stock in the Industrial Products sector, has returned 10.5% year-to-date and also holds a Zacks Rank of 2 (Buy) [2][3] - The Pollution Control industry, to which Donaldson belongs, has experienced a gain of 16.2% this year, ranking 82 among industries [3] Sector Overview - The Industrial Products sector, which includes A.O. Smith and Donaldson, ranks 5 in the Zacks Sector Rank, reflecting the overall strength of the group [1] - The Zacks Rank system evaluates stocks based on earnings estimates and revisions, highlighting those likely to outperform the market in the near term [1]

MILWAUKEE, July 15, 2024 /PRNewswire/ -- Global water technology company A. O. Smith Corporation (the "Company") (NYSE: AOS) announced today that it has signed an agreement to acquire Pureit from Unilever. Pureit offers a broad range of residential water purification solutions and has annual sales of approximately USD $60 million, primarily in India. The purchase price will be approximately USD $120 million in cash, subject to customary adjustments. The Company expects to complete the acquisition of Pureit ...

MILWAUKEE, July 8, 2024 /PRNewswire/ -- Directors of A. O. Smith Corporation (NYSE: AOS) today declared a regular quarterly cash dividend of $.32 per share on the company's Common Stock and Class A Common Stock.The dividend is payable on Thursday, August 15 to shareholders of record Wednesday, July 31, 2024.A. O. Smith Announces Quarterly DividendPost thisAbout A. O. SmithCelebrating its 150th year of business, A. O. Smith Corporation, headquartered in Milwaukee, Wis., is a global leader applying innovative ...

A. O. Smith Corporation (AOS) is poised to benefit from strength across its businesses, acquired assets, healthy liquidity position and focus on operational excellence. The company remains committed to investing in growth opportunities and strengthening its long-term market position.This Zacks Rank #2 (Buy) company has a market capitalization of $11.8 billion. Over the past year, the stock has risen 11.2%. However, both the stock and the industry have declined 1.3% in the past month.Image Source: Zacks Inve ...