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.
A. O. Smith Corporation (NYSE: AOS) is a global water technology manufacturer headquartered in Milwaukee, Wisconsin, known for residential and commercial water heating equipment, boilers and water treatment products. The AOS news feed on Stock Titan aggregates company-issued announcements and regulatory disclosures so readers can follow how this manufacturing business communicates its performance and strategy.
News about A. O. Smith frequently covers quarterly earnings results, including segment performance in North America and Rest of World, changes in operating margins, cash flow trends and updated outlook ranges for net sales and diluted earnings per share. These releases often explain the drivers behind results, such as water heater and boiler demand in North America, economic conditions in China and growth in markets like India.
Investors can also track capital allocation and shareholder return actions through the news stream, including announcements of dividend rate increases and share repurchase activity. The company has highlighted that it has increased its dividend each year for over 30 years, and news items describe board decisions on quarterly dividend rates.
Another key theme in AOS news is strategic activity, such as the signing and completion of the acquisition of LVC Holdco LLC (Leonard Valve). Related releases outline how this transaction expands A. O. Smith’s presence in the water management market, enhances digital capabilities and broadens its integrated product offering with commercial and institutional customers. Leadership and governance updates, including executive appointments in legal, compliance and digital roles, are also disclosed through news items.
For investors and observers interested in water heating, boilers, water treatment and water management technologies, the AOS news page provides a centralized view of the company’s earnings announcements, strategic moves, financing decisions and leadership changes. Regular visits can help readers understand how A. O. Smith frames its business performance and long-term priorities.
A. O. Smith (NYSE: AOS) reported record sales of $1 billion in Q2 2024, a 7% increase year-over-year. The company achieved diluted earnings per share (EPS) of $1.06, up 2% from the previous year and 5% compared to adjusted EPS. Key highlights include:
- North America segment sales increased 9% to $790.7 million
- Rest of World segment sales remained flat at $244.8 million
- Reaffirmed 2024 sales outlook of 3% to 5% growth
- Narrowed EPS guidance to $3.95-$4.10
- Announced acquisition of Pureit, expected to close by end of 2024
The company's performance was driven by higher water heater volumes in North America and growth in commercial boilers. A. O. Smith maintains a strong balance sheet with $233.3 million in cash and marketable securities.
A. O. Smith (NYSE: AOS) has announced its agreement to acquire Pureit, a leading water purification business in South Asia, from Unilever for approximately USD $120 million in cash. Pureit, with annual sales of about USD $60 million primarily in India, offers a broad range of residential water purification solutions. The acquisition is expected to be completed by the end of 2024 and is not anticipated to have a material impact on earnings in the first year.
This strategic move aims to strengthen A. O. Smith's leadership position in the global water treatment market and double its market penetration in South Asia. The acquisition aligns with the company's corporate strategy to enhance its premium product portfolio and distribution capabilities in the region.
A. O. Smith (NYSE: AOS) has announced a quarterly cash dividend of $0.32 per share on its Common and Class A Common Stock. This dividend is scheduled for payment on August 15, 2024, to shareholders recorded as of July 31, 2024.
Celebrating its 150th year, A. O. Smith is a global leader in innovative technology and energy-efficient solutions, specializing in residential and commercial water heating equipment and water treatment products. Headquartered in Milwaukee, Wisconsin, the company is listed on the New York Stock Exchange under the ticker AOS.
A. O. Smith (NYSE: AOS) will report its second quarter 2024 financial results on July 23, 2024, before the market opens. Subsequently, the company will host an investor conference call at 10:00 a.m. Eastern Time. The call will be available live on the company's website, www.aosmith.com, and an audio replay will be accessible on the same site, under the 'Investors' section, post-event.
A. O. Smith announced the retirement of Mark Petrarca, the senior vice president of human resources and public affairs, after 25 years of service. Curt Selby has been named as his successor, bringing valuable experience in human resources and public affairs to continue driving the company's global business growth. Petrarca's contributions to the company's human resources strategy and public affairs management have been instrumental in shaping A. O. Smith's development into a leading entity in water heating and treatment.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of A O Smith (AOS)?
What is the market cap of A O Smith (AOS)?
