A.O. Smith (AOS) Misses Q1 EPS by 2c

A.O. Smith (NYSE: AOS) reported Q1 EPS of $0.32, $0.02 worse than the analyst estimate of $0.34. Revenue for the quarter came in at $748.2 million versus the consensus estimate of $640.12 million.

2020 outlook suspended:

A. O. Smith believes the current environment does not allow it to forecast performance with reasonable precision, and as a result, the Company suspended its 2020 full year outlook. As the severity and duration of the disruption and pace of recovery in its end markets become clearer, the Company will look to return to its practice of providing a current year outlook.

"We have taken a number of actions to increase and further fortify our liquidity," said Wheeler. "The combination of cash and liquidity, replacement demand for our global premium products, high functioning employees passionate about providing our essential products and services to our customers and strong long-standing channel partners and suppliers, gives us confidence to successfully navigate the uncertain business environment."

During its live conference call at 10 a.m. Eastern Daylight time today, A. O. Smith will provide an update on April 2020 business conditions. The call can be heard on the company's web site, www.aosmith.com. An audio replay of the call will be available on the Company's web site after the live event.

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

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