Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Scor ...

Core Points - A. O. Smith Corporation announced the retirement of Mark Petrarca, senior vice president of human resources and public affairs, effective August 1, 2024, with Curt Selby named as his successor [1][2] - Curt Selby has a strong background in human resources, having previously served in various roles at A. O. Smith and most recently as Chief Operating Officer at Board & Brush Creative Studio, where he helped expand the business significantly [2][3] - The transition is expected to be seamless, with Selby poised to continue executing the company's human resources strategy and vision [3] Company Overview - A. O. Smith Corporation is celebrating its 150th year in business and is headquartered in Milwaukee, Wisconsin [4] - The company is a global leader in innovative technology and energy-efficient solutions, manufacturing residential and commercial water heating equipment, boilers, and water treatment products [4] - A. O. Smith is listed on the New York Stock Exchange under the ticker symbol AOS [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________ FORM 10-Q ______________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024. or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-------------------------------------|------------------------------------ ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style ...

Financial Data and Key Metrics Changes - The company reported sales of $979 million for Q1 2024, with adjusted EPS of $1, representing a 6% increase over 2023 adjusted EPS [7][8] - North America sales increased by 2%, with segment margins rising by 80 basis points due to a positive mix, higher commercial volumes, and lower material costs [8][11] - Free cash flow for the first quarter was $85 million, a decrease from the previous year, primarily due to higher incentive payments and increased inventory levels [13] Business Line Data and Key Metrics Changes - North America water heater sales grew by 2%, driven by higher commercial volumes and a favorable product mix [9][11] - Sales of CREST commercial boilers increased over 30% in Q1 2024 [9] - The Rest of the World segment saw sales of $227 million, a 4% increase year-over-year, with significant growth in India at 16% in local currency [12] Market Data and Key Metrics Changes - In China, third-party sales increased by 6% in local currency, with new kitchen products contributing significantly to growth [10] - The company lowered its 2024 third-party sales growth guidance in China to flat to 3% in local currency due to weak economic conditions [18][42] - North America water treatment sales grew by 4%, driven by acquisition-related sales growth and pricing [9] Company Strategy and Development Direction - The company is focused on innovation and operational performance to enhance shareholder value, with strategic acquisitions like Impact Water Products to expand its water treatment business [14] - Capital expenditures for 2024 are projected to be between $105 million and $115 million, aimed at capacity expansion projects [16] - The company plans to launch gas tankless products manufactured in China until North American capacity is completed in 2025, which will impact margins initially [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2024 sales growth of 3% to 5% compared to 2023, despite challenges in the residential market [17] - The outlook for North America segment margin is approximately 25%, with expectations of pressure from rising steel costs in the latter half of the year [19][30] - Management noted that consumer confidence in China remains weak, impacting demand for core products [18][42] Other Important Information - The company expects to generate strong free cash flow between $525 million and $575 million for the year [16] - The effective tax rate is estimated to be between 24% to 24.5% [16] - The company plans to repurchase approximately $300 million of its shares, resulting in outstanding diluted shares of 147 million at year-end [16] Q&A Session Summary Question: Water heater demand in Q1 - Management noted that January and February shipments were higher than expected due to prebuy activity, with March returning to more normalized levels [24] Question: Margin expectations for North America - Management increased the North America segment margin expectation to approximately 25% due to strong performance in Q1 and operational efficiencies [27] Question: Channel inventories coming into Q2 - Distributors reported inventories in line with expectations, with some pull forward expected to be worked off in Q2 [34] Question: Commercial business strength - The commercial market showed positive growth, with gas products performing well, and management remains optimistic about low single-digit growth [37] Question: China sales growth guidance - The company lowered its guidance for China sales growth due to market pressures, but remains confident in its product categories [41][42] Question: Steel pricing variability - Management indicated that visibility on steel pricing extends 90 to 120 days, with the fourth quarter being the biggest risk for changes [83]

A. O. Smith Corporation’s (AOS) first-quarter 2024 adjusted earnings of $1.00 per share surpassed the Zacks Consensus Estimate of 99 cents. The bottom line increased 6% on a year-over-year basis.Net sales of $978.8 million missed the consensus estimate of $995 million. However, the top line inched up 1% year over year, driven by strong demand for commercial water heaters in North America.Segmental DetailsA. O. Smith’s quarterly sales in North America (comprising the United States and Canada operations) incr ...

Quarterly results provide no indication this stock is reaching boiling temperature.Water heater manufacturer A.O. Smith (AOS -6.76%) had a solid first quarter, but warned some of those sales were likely pulled forward from future quarters.Investors are focused on what is to come, sending A.O. Smith shares down 7% as of 11:30 a.m. ET.A lukewarm quarterA.O. Smith is one of the world's largest manufacturers of commercial and residential water heaters and water treatment products. The company earned $1 per shar ...

For the quarter ended March 2024, A.O. Smith (AOS) reported revenue of $978.8 million, up 1.3% over the same period last year. EPS came in at $1.00, compared to $0.94 in the year-ago quarter.The reported revenue represents a surprise of -1.62% over the Zacks Consensus Estimate of $994.87 million. With the consensus EPS estimate being $0.99, the EPS surprise was +1.01%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

First Quarter 2024 Results April 25, 2024 1st Quarter 2024 Earnings Presentation | 1 Kevin J. Wheeler Charles T. Lauber Helen E. Gurholt Chairman and Executive Vice President Vice President - Investor Relations, Chief Executive Officer andChief Financial Officer Financial Planning & Analysis ...

Exhibit 99.1 News Release Media Relations: Mark Petrarca 414-359-4100 mpetrarca@aosmith.com Investor Relations: Helen Gurholt 414-359-4157 hgurholt@aosmith.com FOR IMMEDIATE RELEASE 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 • Stron ...