A.O. Smith (NYSE: AOS) reported Q3 EPS of $0.66, $0.14 better than the analyst estimate of $0.52. Revenue for the quarter came in at $760 million versus the consensus estimate of $715.58 million.

GUIDANCE:

A.O. Smith sees FY2020 EPS of $1.95-$1.98.

• "We are encouraged by the resiliency of our North America residential water heater demand and the year-over-year growth in consumer demand for our products in China. We continue to expect tailwinds behind our North America water treatment product sales driven by drinking water health and safety concerns," noted Wheeler. "However, much uncertainty remains about the duration and long-term implications of the pandemic, particularly its impact on U.S. commercial markets."
• "Under the assumption that the conditions of our business environment and that of our suppliers is similar for the remainder of the year to what we are currently experiencing and that they do not deteriorate as a result of further restrictions or shutdowns, we are increasing our full year 2020 earnings guidance to a range between $1.91 and $1.94 per share and adjusted earnings guidance to a range between $1.95 and $1.98 per share. The mid-point of the guidance range represents an increase of ten percent over our prior 2020 earnings guidance."
• "We continue to believe that we have ample liquidity and flexibility to meet the needs of our business, return cash to shareholders and take advantage of organic and inorganic growth opportunities. We remain focused on keeping our employees safe, while serving our customers and continue to deliver our mission to provide hot and clean water necessary to keep communities and households safe during the pandemic."
• A. O. Smith will broadcast a live conference call at 10 a.m. Eastern Daylight Time today. The call can be heard on the Company's website, www.aosmith.com. An audio replay of the call will be available on the Company's website after the live event.

For earnings history and earnings-related data on A.O. Smith (AOS) click here.