Babcock & Wilcox (B&W) has chosen Siemens Energy to supply steam turbine generator sets for a power project supporting a data centre run by US-based Applied Digital. The partnership enables B&W to secure turbine equipment for its plan to deliver 1GW of power to the facility by the end of 2028. The companies have agreed on a limited notice to proceed, with the comprehensive contract expected in the first quarter of 2026 (Q1 2026). Earlier, B&W signed a limited notice to proceed with Applied Digital for ...

Divests asbestos-related liabilities Restructures the firm and further streamlines continuing operations Strengthens financial position and further advances BHI's priorities of portfolio optimization and simplification LANCASTER, Pa., Dec. 31, 2025 /PRNewswire/ -- Burnham Holdings, Inc. (BHI), parent company to leading manufacturers of boilers and related HVAC products and accessories, announced the continuation of its strategic initiatives intended to refocus its boiler business. As part of these initia ...

Core Insights - A. O. Smith Corporation (AOS) is experiencing strong demand for commercial water heaters and boilers in North America, with organic sales in India increasing by 12.9% year over year in Q3 2025 [1]. - The company anticipates a sales growth of approximately 4-6% in its North America boiler business and low-single-digit growth in the commercial water heater business for the year [1]. Business Acquisitions - A. O. Smith is focused on acquiring businesses to expand its customer base, regions, and product lines, exemplified by its acquisition of LVC Holdco LLC (Leonard Valve) for $470 million, expected to close in Q1 2026 [2]. - The acquisition of Pureit from Unilever in November 2024 has enhanced A. O. Smith's offerings in water treatment solutions and strengthened its market position in India [3]. Financial Performance and Shareholder Returns - In the first nine months of 2025, A. O. Smith paid dividends totaling $145.1 million and repurchased shares worth $335.4 million, with a 6% increase in dividends to 36 cents per share announced in October 2025 [4]. - The company reported cash and cash equivalents of $152.7 million at the end of Q3 2025, significantly higher than its current debt of $19 million [4]. Market Challenges - The company faced challenges in its Rest of the World segment, particularly in China, where revenues declined by 1% year over year in Q3 2025, with a projected 10% decrease in sales for 2025 in local currency [7]. - Rising operating expenses, with costs of sales and selling, general, and administrative expenses increasing by 2.2% and 7% year over year, respectively, are putting pressure on A. O. Smith's profitability [8].

Core Viewpoint - A. O. Smith Corporation has signed a definitive agreement to acquire LVC Holdco LLC (Leonard Valve) for $470 million, which is expected to close in the first quarter of 2026, enhancing A. O. Smith's presence in the water management market [1][3][7] Financial Summary - The acquisition is valued at approximately $412 million after adjusting for estimated tax benefits, representing an adjusted multiple of about 12 times forecasted 2026 EBITDA [1][7] - A. O. Smith expects the transaction to be accretive to its earnings per share in 2026, with strong growth, margins, and free cash flow generation [7] Strategic Fit - The acquisition establishes a new growth platform in the fast-growing water management category, complementing A. O. Smith's core water heater and boiler businesses [4][7] - Leonard Valve's advanced digital mixing technology and Heat-Timer platform will accelerate A. O. Smith's digital and connected water strategy, creating leading smart water building management capabilities [7] Market Positioning - Leonard Valve's products serve critical sectors such as healthcare, education, and industrial markets, which will broaden A. O. Smith's commercial exposure and strengthen relationships with specifying engineers [7] - The acquisition aligns with A. O. Smith's disciplined acquisition framework, meeting key financial thresholds [7] Leadership Perspectives - A. O. Smith's CEO emphasized the strategic fit and alignment of values between the two companies, highlighting the potential for delivering integrated, high-performance systems [3][5] - Leonard Valve's CEO expressed excitement about the partnership, noting significant opportunities to accelerate the adoption of digital water-management technologies [5]

Core Insights - A. O. Smith Corporation reported a 4% increase in net sales for Q3 2025, reaching $942.5 million compared to $902.6 million in Q3 2024, with net earnings rising by 10% to $132 million [1][5] - The North America segment experienced a 6% sales growth, driven by pricing actions and strong demand for commercial water heaters and boilers, while the China market faced a 12% decline in local currency sales [1][2][5] - The company has adjusted its full-year sales outlook to a range of flat to up 1% and narrowed its diluted EPS guidance to $3.70 to $3.85 [5][12] Key Financial Metrics - Q3 2025 net sales: $942.5 million, up from $902.6 million in Q3 2024, representing a 4% YoY increase [1][5] - Net earnings for Q3 2025 were $132 million, compared to $120.1 million in Q3 2024, marking a 10% increase [1][5] - Diluted earnings per share rose to $0.94 from $0.82, reflecting a 15% increase YoY [1][5] Segment Performance - North America segment sales reached $742.8 million, a 6% increase YoY, primarily due to pricing actions and higher volumes of commercial water heaters and boilers [2][5] - Segment earnings for North America were $179.7 million, an 11% increase from $162.5 million in the prior year, with an operating margin of 24.2%, up 110 basis points [3][22] - The Rest of World segment saw sales decrease by 1% to $207.9 million, with a 12% decline in China sales offset by a 13% growth in India [6][7] Cash Flow and Capital Allocation - Cash provided by operations increased by 21% to $434 million, while free cash flow grew by 35% to $381 million in the first nine months of 2025 [5][9] - The company repurchased 5 million shares for $335.4 million in the first nine months of 2025, with an expected total repurchase of approximately $400 million for the year [10][11] Dividend and Shareholder Returns - A. O. Smith's board approved a 6% increase in the dividend rate, continuing a trend of over 30 consecutive years of dividend increases [11][24]

Core Insights - Burnham Holdings, Inc. reported strong growth in Q3 2025, driven by strategic portfolio adjustments to enhance its core boiler business and expand commercial and industrial service offerings [1][5][9] Financial Performance - Net sales for Q3 2025 reached $58.3 million, a 5.3% increase from $55.4 million in Q3 2024. Year-to-date net sales climbed to $167.0 million, up from $153.2 million for the first nine months of 2024 [9][12] - Gross profit margin increased to 19.6% in Q3 2025 from 18.2% in Q3 2024, with year-to-date gross margin at 21.9%, up from 21.4% [9][12] - Net income for Q3 2025 was $1.6 million ($0.35 per basic share), compared to $0.6 million ($0.12 per basic share) in Q3 2024. Year-to-date net income was $9.9 million ($2.12 per basic share), more than double from $4.4 million ($0.94 per basic share) in the first nine months of 2024 [9][12] - Adjusted EBITDA for Q3 2025 was $2.9 million (4.9% of net sales), an increase from $2.7 million (4.2% of net sales) in Q3 2024 [9][12] Strategic Initiatives - The company purchased a group annuity contract to transfer approximately $90.0 million of its defined benefit pension obligations to a third-party insurance company, impacting about 1,000 retirees and beneficiaries [2][3] - A non-cash pre-tax non-operating pension settlement charge of approximately $20.8 million is expected to be recognized in Q4 2025 [4] - The company is winding down operations at Crown Boiler to improve manufacturing efficiency and production flexibility, which involved recorded impairment charges totaling $3.3 million during 2025 [5][9] Legal Matters - On October 21, 2025, the New York Court of Appeals denied Burnham LLC's petition for leave to appeal a verdict against the company, resulting in $31.5 million in compensatory damages and $6.5 million in punitive damages [6]

Core Insights - A. O. Smith Corporation (AOS) is set to release its third-quarter 2025 results on October 28, with earnings estimates remaining stable over the past 60 days [1][9] - The Zacks Consensus Estimate for AOS's revenues is $936 million, reflecting a 3.7% increase year-over-year, while adjusted earnings are expected to be 89 cents per share, indicating an 8.5% rise from the previous year [2][9] Revenue Expectations - The North America segment is anticipated to see a revenue increase of 2.7% year-over-year to $722.2 million, despite a decline in orders for residential water heater products, with strong demand for boilers expected to support performance [3] - The Rest of the World segment's revenues are projected to rise by 3.4% year-over-year to $217.4 million, aided by incremental sales from the Pureit business, despite challenges in the Chinese real estate market affecting water treatment and heater product volumes [4] Challenges and Opportunities - A. O. Smith has faced negative impacts from supply-chain constraints, particularly for engineered components, which have increased costs and delayed product deliveries [5] - The company's international operations expose it to foreign currency headwinds, potentially affecting profitability [5] - Recent acquisitions, including Pureit from Unilever and Impact Water Products, are expected to positively influence revenue and enhance AOS's position in the water treatment industry [6][7] Earnings Predictions - The current Earnings ESP for AOS is -1.31%, with the Most Accurate Estimate at 88 cents per share, which is below the Zacks Consensus Estimate of 89 cents, indicating uncertainty regarding an earnings beat this quarter [8][10]

Core Viewpoint - A.O. Smith is anticipated to report a year-over-year increase in earnings and revenues for the quarter ended September 2025, with the actual results being a significant factor influencing its near-term stock price [1][2]. Earnings Expectations - The upcoming earnings report is expected to be released on October 28, with a consensus EPS estimate of $0.89, reflecting an 8.5% increase year-over-year. Revenues are projected to be $936.17 million, up 3.7% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.86% over the last 30 days, indicating a collective reassessment by analysts regarding the company's earnings prospects [4]. Earnings Surprise Prediction - A.O. Smith has a negative Earnings ESP of -1.31%, suggesting that analysts have recently become bearish on the company's earnings outlook. However, the stock holds a Zacks Rank of 2, complicating predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, A.O. Smith exceeded the expected EPS of $0.97 by delivering $1.07, resulting in a surprise of +10.31%. Over the past four quarters, the company has beaten consensus EPS estimates twice [13][14]. Conclusion - A.O. Smith does not currently appear to be a strong candidate for an earnings beat, and investors should consider additional factors when evaluating the stock ahead of its earnings release [17].

Core Points - A. O. Smith Corporation has approved a 6% increase in its quarterly cash dividend rate to $0.36 per share, effective for both Common Stock and Class A Common Stock [1][2] - The dividend is scheduled to be paid on November 17, 2025, to shareholders of record as of October 31, 2025 [1] - The company has achieved a five-year compound annual growth rate of approximately 7% in its dividend rate and has consistently increased its dividend for over 30 years [2] Company Overview - A. O. Smith Corporation is headquartered in Milwaukee, Wisconsin, and is recognized as a global leader in innovative technology and energy-efficient solutions for water heating equipment and boilers [2] - The company is listed on the New York Stock Exchange under the ticker symbol AOS and is one of the leading manufacturers of residential and commercial water heating equipment, boilers, and water treatment products [2]

Core Viewpoint - A.O. Smith (AOS) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, reflecting the changing earnings picture of a company [1][2]. - Changes in earnings estimates are strongly correlated with near-term stock price movements, influenced by institutional investors who adjust their valuations based on these estimates [3]. A.O. Smith's Earnings Outlook - The upgrade for A.O. Smith indicates an improvement in the company's underlying business, which is expected to positively affect its stock price [4]. - For the fiscal year ending December 2025, A.O. Smith is projected to earn $3.83 per share, with a 2.1% increase in the Zacks Consensus Estimate over the past three months [7]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [6]. - The upgrade to Zacks Rank 2 places A.O. Smith in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [9].