A.O. Smith (AOS) Misses Q3 EPS by 19c, Misses on Revenue, Offers FY22 EPS Guidance
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A. O. Smith Reports Third Quarter Performance
October 27, 2022 6:55 AM EDTThird Quarter 2022 Highlights(Comparisons are year-over-year ("YoY"), unless otherwise noted)
Net sales of $874.2 million, a decrease of 4% primarily driven by greater than anticipated residential water heater de-stocking activity, partially offset by previously announced inflation-related pricing actionsNet earnings of $109.8 million, a decrease of 17%Earnings per share ("EPS") of $0.71, a decrease of 13%Adjusted earnings1 of $106.6 million resulted in adjusted EPS1 of $0.69Reaffirm revised 2022 EPS guidance of $1.29 to $1.39 and adjusted EPS guidance of $3.05 to $3.15MILWAUKEE, Oct. 27, 2022 /PRNewswire/ --Â Global water technology company... More
