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Here are three stocks added to the Zacks Rank #24 (Strong Sell) List today:A. O. Smith Corporation (AOS) is a residential and commercial gas and electric water utility products company. The Zacks Consensus Estimate for its current year earnings has been 5.2% downward over the last 60 days.Deere & Company (DE) is a distributor of agricultural, forestry and construction equipment. The Zacks Consensus Estimate for its current year earnings has been revised 1.2% downward over the last 60 days.The Manitowoc Comp ...

Summary(Comparisons are year-over-year ("YoY"), unless otherwise noted)Preliminary third quarter sales of $903 million, a decrease of 4%, due to lower sales in China and North America water heatingPreliminary third quarter earnings per share ("EPS") of $0.82, a decrease of 9%Preliminary cash provided by operations of $360 million and preliminary free cash flow of $283 million in the first nine months of 2024Lowered full year EPS guidance to be between $3.70 and $3.85 compared to prior guidance of $3.95 to $ ...

A. O. Smith (NYSE: AOS ), a global producer of residential and commercial water heaters and boilers, hasn’t quite been able to generate ample alpha for its stakeholders this year. On a YTD basis, AOS has only notched up returnsAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for i ...

In a shareholder-friendly move, A. O. Smith Corporation (AOS) recently announced a hike in its dividend payout. The company increased its quarterly dividend by 6% to 34 cents per share (annually: $1.36). The new dividend will be paid out on Nov. 15, 2024, to shareholders of record as of Oct. 31.The move underscores AOS’ sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. The five-year compound annual growth rate of its’ dividend is about 8%. The company has increased i ...

Group 1 - A. O. Smith Corporation's board approved a 6% increase in the quarterly cash dividend rate to $0.34 per share [1] - The dividend increase applies to both Common Stock and Class A Common Stock [1] - The dividend is scheduled to be payable on November 15, 2024, to shareholders of record as of October 31, 2024 [1] Group 2 - The CEO highlighted a five-year compound annual growth rate of approximately 8% for the dividend rate [1] - A. O. Smith has a history of increasing its dividend for over 30 years [1] - The company is recognized as a global leader in innovative technology and energy-efficient solutions in water heating and treatment products [2]

MILWAUKEE, Oct. 2, 2024 /PRNewswire/ -- A. O. Smith Corporation (NYSE: AOS) will release its third quarter 2024 financial results before the market opens on Tuesday, October 22, and has scheduled an investor conference call to follow at 10:00 a.m. (Eastern Time).The call can be heard live on the company's website, www.aosmith.com. An audio replay of the call will be available on the company's website after the live event. To access the archived audio replay, go to the "Investors" page and select the "Third ...

A. O. Smith Corporation (AOS) is poised to gain from improving supply chains, which are driving shipments in North America and internationally. The company’s handsome rewards to shareholders add to its appeal.Based in Milwaukee, WI, A. O. Smith is a leading manufacturer of commercial and residential water heating equipment and water treatment products. The company specializes in offering innovative, and energy-efficient solutions and products, which are developed and sold globally.Let’s discuss the factors ...

Core Viewpoint - A.O. Smith's recent earnings report showed mixed results, with adjusted earnings per share slightly missing estimates while net sales exceeded expectations, indicating strong demand in key markets [2][3]. Financial Performance - A.O. Smith's Q2 2024 adjusted earnings were $1.06 per share, missing the Zacks Consensus Estimate of $1.07, but reflecting a 5% year-over-year increase [2]. - Net sales reached $1.02 billion, surpassing the consensus estimate of $992 million, and increased by 7% year-over-year, driven by strong demand for water heaters [2]. - North American sales increased by 9% year-over-year to $790.7 million, supported by higher volumes and effective pricing [3]. - Sales in the Rest of the World segment were flat at $244.8 million, with a 16% increase in India’s local currency [3][4]. Cost and Margin Analysis - Cost of sales rose by 9.1% year-over-year to $628.3 million, while selling, general, and administrative expenses increased by 4.5% to $188.5 million [5]. - Gross profit increased by 2.9% year-over-year to $396 million, with a gross margin of 38.7%, down from 40% in the previous year [5]. Liquidity and Cash Flow - As of June 30, 2024, cash and cash equivalents totaled $216.1 million, down from $339.9 million at the end of December 2023 [6]. - Long-term debt increased to $130.4 million from $117.3 million at the end of December 2023 [6]. - Cash provided by operating activities in the first half of 2024 was $164 million, compared to $260.2 million in the same period last year [6]. Share Repurchase Program - In the first half of 2024, A.O. Smith repurchased 1.8 million shares for $153.2 million, with 3.7 million shares remaining under the current authorization [7]. - The company plans to repurchase $300 million worth of shares in 2024, following an increase in the share buyback program [7]. 2024 Outlook - A.O. Smith reaffirmed its sales outlook, expecting net sales between $3,970 million and $4,050 million, an increase from $3,853 million in 2023 [8]. - Adjusted earnings per share are projected to be in the range of $3.95 to $4.10, indicating a 5.6% increase at the mid-point from the previous year [8]. Estimate Trends - Recent estimates for A.O. Smith have shown a downward trend, indicating a potential shift in investor sentiment [9][11]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [11].

A. O. Smith Corporation (AOS) has been benefiting from strong demand for water heaters and commercial boilers in residential and commercial markets of North America. The company expects sales from both the North America boiler and water treatment businesses to grow approximately 8-10% this year.  Also, healthy demand for combi boilers and kitchen appliance products in China has been boosting the performance of the Rest of the World business. For 2024, A. O. Smith expects overall sales to increase approximat ...