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A. O. Smith Q3 profit climbs 11.1% YOY


According to Market Intelligence, December 2022


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A. O. Smith Q3 profit climbs 11.1% YOY

A. O. Smith Corp. said its normalized net income for the third quarter came to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS climbed 12.5% year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $82.3 million, an increase of 11.1% from $74.0 million in the year-earlier period.

The normalized profit margin rose to 11.0% from 10.8% in the year-earlier period.

Total revenue increased 9.7% on an annual basis to $749.9 million from $683.9 million, and total operating expenses grew 9.5% from the prior-year period to $619.0 million from $565.3 million.

Reported net income grew 13.5% from the prior-year period to $94.2 million, or 54 cents per share, from $83.0 million, or 47 cents per share.