AO Smith (AOS) Tops Q3 EPS by 2c; Bumps Outlook

AO Smith (NYSE: AOS) reported Q3 EPS of $0.59, $0.02 better than the analyst estimate of $0.57. Revenue for the quarter came in at $581.6 million versus the consensus estimate of $584.3 million.

AO Smith sees FY2014 EPS of $2.37-$2.41, versus the consensus of $2.40..

"A. O. Smith continued to benefit from improvement in several key sectors of the economy in the U. S.," Ajita G. Rajendra, chairman and chief executive officer, observed. "A growing home construction market created higher demand for residential water heaters, and continued strength in high efficiency, condensing boilers, favorably impacted demand for commercial boilers."

"Our team in China continued to do an excellent job of growing the business and serving our customers in that important region of the world. Increased consumer demand for water heaters and water treatment products had a favorable impact. Overall, China sales increased approximately 16 percent in the quarter."

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

You May Also Be Interested In

• Nvidia pitches Vera CPU to Chinese clients with August delivery target
• BIG3 Basketball to go public via Graf Global merger at $290 million
• Schwab's May activity shows margin loans nearly double