Welcome to our dedicated page for A O Smith news (Ticker: AOS), a resource for investors and traders seeking the latest updates and insights on A O Smith stock.
AO Smith Corporation (AOS) maintains its position as a global leader in water technology solutions through continuous innovation and strategic market expansion. This dedicated news hub provides investors and industry professionals with comprehensive access to official company announcements, financial updates, and operational developments.
Track AO Smith's latest earnings reports, product launches, and strategic partnerships through verified press releases and curated news analysis. Our repository focuses on critical updates including water heater technology advancements, boiler system innovations, and international market expansions across North America, China, and emerging economies.
Key updates include quarterly financial performance, leadership changes, manufacturing facility developments, and sustainability initiatives within the water technology sector. Bookmark this page for real-time access to AO Smith's corporate communications and industry-specific analysis from trusted financial sources.
A. O. Smith (NYSE: AOS), a leader in water heating and water treatment, has been named one of the 2025 World's Most Ethical Companies by Ethisphere for the second consecutive year. The company is among just 12 honorees in the industrial manufacturing category, out of 136 total honorees across 19 countries and 44 industries.
The recognition is based on Ethisphere's Ethics Quotient® assessment, which evaluates companies through 240+ proof points covering ethics, compliance, governance, environmental and social impact, and value chain initiatives. Chairman and CEO Kevin Wheeler emphasized that ethics forms the foundation of A. O. Smith's business operations and daily values.
A. O. Smith (NYSE: AOS) reported its 2024 results with sales of $3.8 billion, showing a 1% decrease primarily due to lower sales in China. Net earnings were $533.6 million with diluted EPS of $3.63, down 2% year-over-year. The company faced challenges from a weak Chinese economy and soft North America water heater demand in the second half of 2024.
Notable highlights include an 8% increase in North American boiler sales, $496 million returned to shareholders through dividends and share repurchases, and the acquisition of Pureit in Q4. The company implemented restructuring measures, including $11.3 million in severance expenses in China and $6.3 million in North America water treatment business improvements.
For 2025, A. O. Smith projects consolidated sales to be flat to up 2% compared to 2024, with EPS guidance between $3.60 and $3.90. The company expects flat water heater industry unit volumes in North America and continued double-digit sales growth in India, while anticipating a single-digit sales decline in China.
A. O. Smith (NYSE: AOS) has announced its regular quarterly cash dividend for Q4 2024. The company's Board of Directors has declared a dividend of $0.34 per share on both Common Stock and Class A Common Stock. The dividend will be paid on February 18, 2025, to shareholders of record as of January 31, 2025.
A. O. Smith (NYSE: AOS) has announced its upcoming fourth quarter 2024 financial results release, scheduled for Thursday, January 30, 2025, before market opening. The company will host an investor conference call at 10:00 a.m. Eastern Daylight Time on the same day.
Investors and interested parties can access the live call through the company's website at www.aosmith.com. For those unable to attend the live event, an audio replay will be made available on the website's 'Investors' page under the 'Fourth Quarter Conference Call' section.
A. O. Smith (NYSE: AOS) has released its 2024 Sustainability Report, marking its fourth sustainability publication in six years. The company announced its first public water goal, targeting an annual water savings of 40 million gallons by 2030. Key achievements include surpassing their greenhouse gas emissions reduction goal by 17% and donating over $1.75 million to 199 nonprofit organizations in 2023.
The report, coinciding with the company's 150th anniversary, outlines progress in water heating and treatment technologies, policy advocacy, and employee development. A. O. Smith made significant strides in sustainability through administrative controls, process optimization, and water recycling technologies while maintaining leadership in energy and water efficiency standards.
A. O. Smith (NYSE: AOS) has completed the acquisition of Pureit, a Unilever water purification business, for approximately $120 million. Pureit, launched in 2004 in Chennai, India, offers residential water purification solutions across India, Bangladesh, Sri Lanka, Vietnam, and Mexico. The acquisition strengthens A. O. Smith's premium water treatment portfolio and distribution footprint, particularly in e-commerce channels. The company notes that the acquisition will not materially impact earnings in the first year.
A. O. Smith (NYSE: AOS) reported its third quarter 2024 results with sales of $903 million, a 4% decrease year-over-year, driven by lower sales in China and reduced water heater volumes in North America. Net earnings decreased 11% to $120 million, with diluted earnings per share (EPS) at $0.82, down 9%. The company reaffirmed its revised 2024 EPS outlook of $3.70 to $3.85.
Key highlights include:
- 6% increase in dividend, marking 32 consecutive years of increases
- Pureit acquisition on track to close by end of 2024
- North America segment sales declined 1% to $703.3 million
- Rest of World segment sales decreased 10% to $210.3 million
- Cash and marketable securities totaled $255.6 million as of September 30, 2024
- 2.9 million shares repurchased at a cost of $237.1 million in the first nine months of 2024
A. O. Smith (NYSE: AOS) announced preliminary third quarter results and revised full year guidance for 2024. Key points include:
- Preliminary Q3 sales of $903 million, down 4% year-over-year due to lower sales in China and North America water heating
- Preliminary Q3 earnings per share (EPS) of $0.82, a 9% decrease
- Preliminary cash from operations of $360 million and free cash flow of $283 million in the first nine months of 2024
- Lowered full year EPS guidance to $3.70-$3.85 from previous $3.95-$4.10
The company faced challenges in China with a 17% decline in local currency sales, and weaker-than-expected North American water heater orders. Despite this, A. O. Smith maintains strong customer relationships and improved lead times. The company expects quarter-over-quarter improvement in North America water heater volumes in Q4 but anticipates continued softness in China.
A. O. Smith (NYSE: AOS) has announced a 6% increase in its quarterly cash dividend to $0.34 per share. The board of directors approved this increase on October 7, 2024, affecting both Common Stock and Class A Common Stock. The dividend will be payable on November 15 to shareholders of record as of October 31, 2024.
Kevin J. Wheeler, chairman and CEO, emphasized that this increase aligns with the company's capital allocation strategy of consistently returning capital to shareholders. He highlighted that A. O. Smith has maintained a five-year compound annual growth rate of approximately 8% for its dividend rate and has increased its dividend annually for over 30 years.
A. O. Smith (NYSE: AOS) has announced its upcoming third quarter 2024 financial results release and investor conference call. The company will release its financial results before the market opens on Tuesday, October 22, 2024. This will be followed by an investor conference call at 10:00 a.m. Eastern Time on the same day.
Investors and interested parties can listen to the call live on the company's website at www.aosmith.com. For those unable to attend the live event, an audio replay of the call will be made available on the company's website after the event concludes. To access the archived audio replay, visitors should navigate to the 'Investors' page on the website and select the 'Third Quarter Conference Call' link.
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