A. O. Smith Reports First Quarter 2026 Results and Lowers Full Year 2026 Outlook

Q: What were AOS (A. O. Smith) Q1 2026 sales and EPS figures?

Q1 2026 sales were $945.6M and diluted EPS was $0.85 . According to the company, net earnings were $118.0M , down 14% year‑over‑year and driven by lower volumes and transaction expenses.

Q: How did the Leonard Valve acquisition affect AOS Q1 2026 results (AOS)?

Leonard Valve contributed about $16M to North America sales in Q1. According to the company, the acquisition added revenue but the quarter still faced lower residential water heater volumes and weather disruptions.

Q: What is AOS's cash, debt and leverage position after Q1 2026 (AOS)?

As of March 31, 2026, cash and marketable securities were $203.9M and debt was $615.8M , yielding a total debt‑to‑capitalization leverage of 24.7% , according to the company.

Q: Will AOS return capital to shareholders after Q1 2026 results (AOS)?

Yes. AOS repurchased 0.7M shares for $51.3M in Q1, projects $200M in 2026 buybacks, and declared a $0.36 per share dividend payable May 15, according to the company.

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

A. O. Smith (NYSE: AOS) reported Q1 2026 sales of $945.6M, net earnings of $118.0M and diluted EPS of $0.85. North America sales were $753.4M (+1%); Rest of World sales were $200.7M (-11%).

The company lowered full‑year 2026 guidance to diluted EPS of $3.60–$3.90 and adjusted EPS of $3.70–$4.00, expects a ~2–4% sales range, and announced a ~$20M pre-tax North America water treatment restructuring to be recognized in Q2.

Cash and marketable securities were $203.9M, debt $615.8M (24.7% leverage), free cash flow $118.9M, share repurchases of $51.3M in Q1, and a $0.36 per share dividend payable May 15.

AI-generated analysis. Not financial advice.

Positive

Free cash flow of $118.9M in Q1
Cash & marketable securities total $203.9M
North America sales $753.4M, up 1% including Leonard Valve
Share repurchases of $51.3M in Q1 and $200M planned for 2026

Negative

Q1 net earnings declined 14% YoY to $118.0M
Consolidated sales down 2% YoY to $945.6M
Rest of World sales decreased 11% YoY (China −17% in local currency)
Full‑year 2026 adjusted EPS guidance lowered to $3.70–$4.00
~$20M pre‑tax restructuring and impairment charges to be recognized in Q2
Debt increased to $615.8M after term loan for Leonard Valve acquisition

News Market Reaction – AOS

-2.89%

20 alerts

-2.89% News Effect

-$250M Valuation Impact

$8.39B Market Cap

1.0x Rel. Volume

On the day this news was published, AOS declined 2.89%, reflecting a moderate negative market reaction. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $250M from the company's valuation, bringing the market cap to $8.39B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q1 2026 net sales: $945.6M Q1 2026 EPS: $0.85 Q1 2026 net earnings: $118.0M +5 more

8 metrics

Q1 2026 net sales $945.6M vs $963.9M in Q1 2025, -2% YoY

Q1 2026 EPS $0.85 diluted EPS vs $0.95 in Q1 2025, -11% YoY

Q1 2026 net earnings $118.0M vs $136.6M in Q1 2025, -14% YoY

2026 diluted EPS guidance $3.60–$3.90 lowered from prior $3.85–$4.15

2026 adjusted EPS guidance $3.70–$4.00 reduced from $3.85–$4.15; excludes ~$20M restructuring

Operating cash flow $129.4M first three months of 2026, higher than 2025

Free cash flow $118.9M first three months of 2026, higher than 2025

North America margin 23.3% Q1 2026 segment margin vs 24.7% in Q1 2025

Market Reality Check

Price: $56.72 Vol: Volume 2,356,220 is about...

high vol

$56.72 Last Close

Volume Volume 2,356,220 is about 1.6x the 20-day average of 1,474,739, indicating elevated trading interest into the release. high

Technical Shares at $63.68 are trading below the 200-day MA of $69.86, reflecting a pre-existing downtrend ahead of the weaker results and outlook.

Peers on Argus

Pre-news, AOS was down 0.36% with mixed peer action: CR (-4.06%), IEX (-1.21%), ...

Pre-news, AOS was down 0.36% with mixed peer action: CR (-4.06%), IEX (-1.21%), NDSN (-0.33%), GGG (-0.54%) while GNRC rose 3.47%. This pattern points to stock‑specific dynamics rather than a unified sector move.

Previous Earnings Reports

4 past events · Latest: Oct 28 (Positive)

Same Type Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Oct 28	Q3 2025 earnings	Positive	-2.6%	Strong EPS and margin expansion with guidance tightened for 2025.
Jul 24	Q2 2025 earnings	Positive	+3.6%	EPS of $1.07 and raised 2025 outlook despite modest sales decline.
Apr 29	Q1 2025 earnings	Positive	+3.5%	Sales and EPS down YoY but outlook maintained with operational strengths.
Oct 11	2024 guide cut	Negative	-6.3%	Preliminary Q3 miss and 2024 EPS guidance reduction on China weakness.

Pattern Detected

Earnings-related headlines have historically produced modest moves around flat on average, with negative reactions when guidance is cut or outlook softens, particularly tied to China weakness.

Recent Company History

Over the past several earnings cycles, A. O. Smith has balanced solid North America margins with persistent softness in China. Prior reports showed EPS growth and margin expansion in Q2–Q3 2025, allowing guidance raises and narrowed ranges, while earlier in 2024 the company cut full‑year EPS guidance on China and North America water heating weakness. Today’s Q1 2026 miss and reduced 2026 EPS outlook extend that theme of China drag and periodic guidance resets.

Historical Comparison

-0.5% avg move · In recent earnings-related releases, AOS has moved an average of about -0.45%, suggesting typically ...

earnings

-0.5%

Average Historical Move earnings

In recent earnings-related releases, AOS has moved an average of about -0.45%, suggesting typically modest market reactions to quarterly updates and guidance tweaks.

Recent earnings history shows recurring pressure from China offset by resilient North America margins, with guidance moving up in mid‑2025 then later tightening or being reduced as macro and regional demand softened.

Market Pulse Summary

This announcement combines softer Q1 2026 performance with a reduced 2026 EPS outlook, mainly due to...

Analysis

This announcement combines softer Q1 2026 performance with a reduced 2026 EPS outlook, mainly due to ongoing China weakness and some North America disruption. At the same time, operating and free cash flow of $129.4M and $118.9M improved, and buybacks and dividends continued. Historically, earnings news has elicited modest moves, so investors may focus on future guidance updates, China trends, and North America margin resilience.

Key Terms

free cash flow, diluted earnings per share, adjusted EPS, leverage ratio, +4 more

8 terms

free cash flow financial

"Strong growth in operating cash flow and free cash flow to $129 million and $119 million"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

adjusted EPS financial

"Adjusted EPS of between $3.70 and $4.00"

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

leverage ratio financial

"resulting in a leverage ratio of 24.7% as measured by total debt-to-total capitalization"

Leverage ratio measures how much a company relies on borrowed money compared with its own funds or assets, typically expressed as debt relative to equity or total assets. Like a homeowner with a mortgage, higher leverage can amplify returns when business is strong but also raises the chance of big losses or default if revenue falls, so investors use it to judge financial risk and resilience.

term loan financial

"due to cash borrowed under a new term loan used to acquire Leonard Valve"

A term loan is a type of loan that is borrowed for a set period of time, with a fixed schedule for repaying the money, usually in regular payments. It matters to investors because it represents a company's borrowing costs and financial stability; reliable repayment of these loans can indicate strong financial health, while difficulties may signal potential risks.

restructuring and impairment expenses financial

"Excludes announced North America water treatment pre-tax restructuring and impairment expenses"

Restructuring and impairment expenses are charges a company records when it reorganizes its operations (layoffs, closing facilities, or other one-time costs) and when assets lose value and must be written down. Think of it like cleaning out a garage: you pay to reorganize the space and throw away items that no longer work; those costs reduce reported profit now and can signal either short-term pain or long-term efficiency gains, so investors watch them to judge future cash flow and true earning power.

GAAP to Non-GAAP financial

"See accompanying GAAP to Non-GAAP reconciliations"

GAAP to non-GAAP describes the reconciliation between a company's results under standardized accounting rules and an adjusted version the company presents that excludes certain items. Investors care because the adjusted numbers can highlight recurring cash-generating performance or remove one-time events, like comparing a cookbook recipe to a chef’s custom tweak; the reconciliation shows exactly what was added or removed so readers can judge if the adjustments clarify or obscure true financial health.

AI-generated analysis. Not financial advice.

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04/30/2026 - 06:55 AM

First Quarter 2026 Highlights
(Comparisons are year-over-year ("YoY"), unless otherwise noted)

Sales of $946 million; net earnings of $118 million and diluted earnings per share (EPS) of $0.85
North America segment sales of $753.4 million increased 1% with the addition of Leonard Valve and pricing benefits offsetting softer water heater industry volumes and weather-related production and shipping constraints
Rest of World segment sales of $200.7 million decreased 11% due to continued challenges in the consumer appliance market in China
Net earnings decreased primarily as a result of lower volumes and transaction-related expenses recognized in the quarter for the Leonard Valve acquisition
Strong growth in operating cash flow and free cash flow to $129 million and $119 million, respectively
Primarily due to continued challenging conditions in China, 2026 full year EPS guidance lowered to:
- Diluted EPS of between $3.60 and $3.90
- Adjusted EPS of between $3.70 and $4.00

MILWAUKEE, April 30, 2026 /PRNewswire/ -- Global water technology company A. O. Smith Corporation ("the Company") (NYSE: AOS) today announced its first quarter 2026 results.

Key Financial Metrics

First Quarter
(in millions, except per share amounts)

	Q1 2026	Q1 2025	% Change YoY
Net sales	$ 945.6	$ 963.9	-2 %
Net earnings	$ 118.0	$ 136.6	-14 %
Diluted earnings per share	$ 0.85	$ 0.95	-11 %

Chief Executive Officer Steve Shafer commented, "Our team executed with focus and agility in the first quarter, continuing to support our customers well in the face of a continued soft macro environment. As we anticipated, softer demand in China impacted results. In North America, results were impacted by residential water heater industry demand that was modestly below our expectations, compounded by temporary weather-related disruptions at our Ashland City, Tennessee facility. Separately, in April, we took another step in our business simplification and margin enhancement efforts within our North America water treatment business by announcing a targeted restructuring plan that will be recognized in the second quarter. We believe these actions are an important step in advancing a stronger business model to achieve a higher level of profitable growth."

Segment-level Performance

North America

First quarter sales of $753.4 million increased 1% relative to a difficult 2025 comparison as the benefits of carryover pricing actions and the $16 million sales contribution from the newly acquired Leonard Valve business were largely offset by lower residential water heater volumes. The first quarter of 2026 was negatively impacted by weather-related production and shipping constraints, particularly as a direct result of storm damage at the Company's Ashland City, Tennessee plant. The first quarter of 2025 benefited from incremental volume from the pull forward of water heater and boiler sales ahead of tariff and other cost-related price increases.

Segment earnings were $175.4 million and segment margin was 23.3% in first quarter of 2026 compared to first quarter of 2025 segment earnings of $185.2 million and segment margin of 24.7%. The year-over-year decrease in segment earnings and segment margin was primarily due to lower residential water heater volumes which more than offset the earnings contribution from Leonard Valve. The first quarter of 2025 benefited from a stronger mix toward higher efficiency products as certain customers bought ahead of an announced price increase.

Rest of World

Rest of World sales of $200.7 million decreased 11% compared to the prior year period and included a favorable currency translation impact of $8 million primarily related to sales in China. China sales decreased 17% in local currency due to continued weak consumer demand.

Segment earnings were $12.4 million and segment margin was 6.2% in the first quarter of 2026, compared to segment earnings of $19.7 million and segment margin of 8.7% in the same period of 2025. The lower segment earnings and segment margin compared to the prior year were primarily due to lower sales volumes that were partially offset by continued cost management in China.

Balance Sheet, Liquidity and Capital Allocation

As of March 31, 2026, cash and marketable securities balances totaled $203.9 million and debt totaled $615.8 million, resulting in a leverage ratio of 24.7% as measured by total debt-to-total capitalization. The increased leverage ratio compared to 2025 was due to cash borrowed under a new term loan used to acquire Leonard Valve in January 2026.

Cash provided by operations was $129.4 million and free cash flow was $118.9 million in the first three months of 2026, both higher than the same period in 2025, primarily driven by diligent working capital management and the timing of customer payments that more than offset lower earnings.

As part of its commitment to return capital to shareholders, the Company repurchased 0.7 million shares at a cost of $51.3 million in the first three months of 2026. As of March 31, 2026, authority remained to repurchase approximately 5.1 million additional shares. The Company projects that it will spend $200 million to repurchase shares in 2026.

On April 13, 2026, the Company's board of directors approved a $0.36 per share dividend for shareholders of record on April 30, payable on May 15. For the full release, click here.

Outlook

2026 Outlook
(in millions, except per share amounts)

	2025	2026 Outlook
	Actual	Low End	High End
Net sales	$ 3,830	$ 3,900	$ 4,000
Diluted earnings per share	$ 3.85	$ 3.60	$ 3.90
Adjusted earnings per share	$ 3.85	$ 3.70¹	$ 4.00¹

¹	Excludes announced North America water treatment pre-tax restructuring and impairment expenses of approximately $20 million to be recognized in the second quarter. See accompanying GAAP to Non-GAAP reconciliations

The Company revised its full-year 2026 sales growth outlook to a range of 2% to 4%, lowering the high end compared to the previous range of 2% to 5%. The Company also lowered its full-year 2026 adjusted EPS outlook to be between $3.70 and $4.00, down from $3.85 to $4.15.

Shafer concluded, "Primarily based on our latest view of our China business and partially due to increased uncertainty around regulatory changes scheduled to take effect later this year in North America, we have updated our full-year expectations. In China, we expect market conditions to remain challenging through the year and have identified several actions to improve performance. These actions are pending the conclusion of our assessment of the business. In North America, we remain confident in our competitive positioning and the underlying strength of the business despite a slower-than-expected start to the year driven by softer macro conditions."

"We believe our strong balance sheet and free cash flow give us the flexibility to support organic growth, dividends and share repurchases while continuing to pursue strategic acquisitions to support our focus on portfolio management."

The Company's guidance excludes the potential impacts from future acquisitions, any potential outcomes of the assessment of its China business and changes to tariffs after the date of this release.

A. O. Smith will host a webcasted conference call at 10:00 a.m. (Eastern Daylight Time) today. The call can be heard live on the Company's website click here. 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 First Quarter 2026 Earnings Call link.

To provide improved transparency into the operating results of its business, the Company is providing non-GAAP measures. Free cash flow is defined as cash provided by operations less capital expenditures. Adjusted EPS excludes the impact of restructuring and impairment charges. Reconciliations from GAAP measures to non-GAAP measures are provided in the financial information included in this news release.

Forward-looking Statements

This release contains statements that the Company believes are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "forecast," "continue," "guidance," "outlook", "confident" or words of similar meaning. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this release. Important factors that could cause actual results to differ materially from these expectations include, among other things, the following: further weakening in North American residential or commercial construction or instability in the Company's replacement markets; failure to realize the expected benefits of acquisitions or expected synergies; difficulties in predicting results of operations of an acquired business; negative impact to the Company's businesses from international tariffs, including any new or increased tariffs that could also trigger retaliatory responses from other countries, as well as trade disputes and geopolitical differences, including the conflicts in Ukraine and the Middle East; further softening in U.S. residential and commercial water heater demand; negative impacts to the Company, particularly the demand for its products, resulting from global inflationary pressures or a potential recession in one or more of the markets in which the Company participates; the Company's ability to continue to obtain commodities, components, parts and accessories on a timely basis through its supply chain and at expected costs, including the recent volatility in fuel and other material prices; inability of the Company to implement or maintain pricing actions; inconsistent recovery of the Chinese economy or a further decline in the growth rate of consumer spending or housing sales in China; the availability, timing or effects of China stimulus programs; uncertain outcomes and costs and other potential impacts of the Company's assessment relating to the Company's China business; the failure to realize the expected benefits of restructuring actions; further weakening in the high-efficiency gas boiler segment in the U.S.; substantial defaults in payment by, material reduction in purchases by or the loss, bankruptcy or insolvency of a major customer; foreign currency fluctuations; failure to realize the expected benefits, timing and extent of regulatory changes; competitive pressures on the Company's businesses, including new technologies and new competitors; the impact of potential information technology or data security breaches; negative impact of changes in government regulations or regulatory requirements; the inability to respond to secular trends toward decarbonization and energy efficiency; and adverse developments in general economic, political and business conditions in key regions of the world. Additional factors are discussed in the Company's filings with Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements included in this news release are made only as of the date of this release, and the Company is under no obligation to update these statements to reflect subsequent events or circumstances. All subsequent written and oral forward-looking statements attributed to the Company, or persons acting on its behalf, are qualified entirely by these cautionary statements.

About A. O. Smith
A. O. Smith Corporation, with headquarters in Milwaukee, Wisconsin, is a global leader applying innovative technology and energy-efficient solutions to products manufactured and marketed worldwide. Listed on the New York Stock Exchange (NYSE: AOS), the Company is one of the world's leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products. For more information, visit www.aosmith.com.

A. O. SMITH CORPORATION Condensed Consolidated Statement of Earnings (dollars in millions, except share data) (unaudited)
	Three Months Ended March 31,
	2026		2025
Net sales	$	945.6	$	963.9
Cost of products sold		579.9		588.5
Gross profit		365.7		375.4
Selling, general and administrative expenses		203.9		192.6
Interest expense		7.1		2.9
Other income, net		—		(1.2)
Earnings before provision for income taxes		154.7		181.1
Provision for income taxes		36.7		44.5
Net earnings	$	118.0	$	136.6
Diluted earnings per share of common stock	$	0.85	$	0.95
Average common shares outstanding (000's omitted)		139,167		144,408

A. O. SMITH CORPORATION Condensed Consolidated Balance Sheet (dollars in millions)
	(Unaudited) March 31, 2026		December 31, 2025
ASSETS:
Cash and cash equivalents	$	185.2	$	174.5
Marketable securities		18.7		18.7
Receivables		634.1		582.3
Inventories		488.5		479.3
Other current assets		41.9		36.7
Total Current Assets		1,368.4		1,291.5
Net property, plant and equipment		632.2		635.1
Goodwill and other intangibles		1,518.6		1,072.9
Operating lease assets		51.8		46.3
Other assets		79.3		97.0
Total Assets	$	3,650.3	$	3,142.8
LIABILITIES AND STOCKHOLDERS' EQUITY:
Trade payables	$	543.0	$	504.1
Accrued payroll and benefits		60.7		93.6
Accrued liabilities		159.4		147.5
Product warranties		73.4		75.0
Debt due within one year		41.6		42.3
Total Current Liabilities		878.1		862.5
Long-term debt		574.2		112.7
Pension liabilities		7.4		7.4
Operating lease liabilities		40.7		37.1
Other liabilities		272.0		265.1
Stockholders' equity		1,877.9		1,858.0
Total Liabilities and Stockholders' Equity	$	3,650.3	$	3,142.8

A. O. SMITH CORPORATION Condensed Consolidated Statement of Cash Flows (dollars in millions) (unaudited)
	Three Months Ended March 31,
	2026		2025
Operating Activities
Net earnings	$	118.0	$	136.6
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation & amortization		23.9		20.7
Share based compensation expense		6.6		6.1
Deferred income taxes		18.3		(5.0)
Net changes in operating assets and liabilities:
Current assets and liabilities		(43.2)		(125.3)
Noncurrent assets and liabilities		5.8		5.6
Cash Provided by Operating Activities		129.4		38.7
Investing Activities
Capital expenditures		(10.5)		(21.3)
Acquisitions		(470.0)		—
Investment in marketable securities		—		(22.6)
Net proceeds from sale of marketable securities		—		33.1
Cash Used in Investing Activities		(480.5)		(10.8)
Financing Activities
Proceeds from debt		564.4		240.5
Repayments of debt		(101.1)		(164.0)
Common stock repurchases		(51.3)		(120.6)
Net payments from stock option activity		(0.5)		(1.8)
Dividends paid		(50.2)		(49.2)
Cash Provided by (Used in) Financing Activities		361.3		(95.1)
Effect of exchange rate changes on cash and cash equivalents		0.5		0.6
Net increase (decrease) in cash and cash equivalents		10.7		(66.6)
Cash and cash equivalents - beginning of period		174.5		239.6
Cash and Cash Equivalents - End of Period	$	185.2	$	173.0

A. O. SMITH CORPORATION Business Segments (dollars in millions) (unaudited)
	Three Months Ended March 31,
	2026		2025
Net sales
North America	$	753.4	$	748.7
Rest of World		200.7		226.7
Inter-segment sales		(8.5)		(11.5)
	$	945.6	$	963.9
Earnings
North America	$	175.4	$	185.2
Rest of World		12.4		19.7
Inter-segment earnings elimination		—		—
		187.8		204.9
Corporate expense		(26.0)		(20.9)
Interest expense		(7.1)		(2.9)
Earnings before income taxes		154.7		181.1
Provision for incomes taxes		36.7		44.5
Net earnings	$	118.0	$	136.6

A. O. SMITH CORPORATION Free Cash Flow (dollars in millions) (unaudited)

The following is a reconciliation of reported cash flow from operating activities to free cash flow (non-GAAP):

	Three Months Ended March 31,
	2026		2025
Cash provided by operating activities (GAAP)	$	129.4	$	38.7
Less: Capital expenditures		(10.5)		(21.3)
Free cash flow (non-GAAP)	$	118.9	$	17.4

A. O. SMITH CORPORATION 2026 Adjusted EPS Guidance and 2025 EPS (unaudited)

The following is a reconciliation of diluted EPS to adjusted EPS (non-GAAP) (all items are net of tax):
	2026 Guidance			2025
Diluted EPS (GAAP)	$	3.60-3.90		$	3.85
Restructuring and impairment expenses		0.10	⁽¹⁾		—
Adjusted EPS (non-GAAP)	$	3.70-4.00		$	3.85

(1)	Includes announced North America water treatment pre-tax restructuring and impairment expenses of approximately $20 million to be recognized in the second quarter

View original content to download multimedia:https://www.prnewswire.com/news-releases/a--o-smith-reports-first-quarter-2026-results-and-lowers-full-year-2026-outlook-302758076.html

SOURCE A. O. Smith Corporation

FAQ

What were AOS (A. O. Smith) Q1 2026 sales and EPS figures?

Q1 2026 sales were $945.6M and diluted EPS was $0.85. According to the company, net earnings were $118.0M, down 14% year‑over‑year and driven by lower volumes and transaction expenses.

Why did AOS lower its full‑year 2026 EPS outlook (AOS)?

AOS lowered guidance mainly due to continued weakness in China and regulatory uncertainty in North America. According to the company, these factors prompted adjusted EPS guidance of $3.70–$4.00 for 2026.

How did the Leonard Valve acquisition affect AOS Q1 2026 results (AOS)?

Leonard Valve contributed about $16M to North America sales in Q1. According to the company, the acquisition added revenue but the quarter still faced lower residential water heater volumes and weather disruptions.

What is AOS's cash, debt and leverage position after Q1 2026 (AOS)?

As of March 31, 2026, cash and marketable securities were $203.9M and debt was $615.8M, yielding a total debt‑to‑capitalization leverage of 24.7%, according to the company.

Will AOS return capital to shareholders after Q1 2026 results (AOS)?

Yes. AOS repurchased 0.7M shares for $51.3M in Q1, projects $200M in 2026 buybacks, and declared a $0.36 per share dividend payable May 15, according to the company.