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A. O. Smith Q3 profit climbs 54.7% YOY

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A. O. Smith Q3 profit climbs 54.7% YOY

A. O. Smith Corp. said its normalized net income for the third quarter came to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS climbed 56.8% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $67.0 million, an increase of 54.7% from $43.3 million in the year-earlier period.

The normalized profit margin increased to 10.7% from 7.4% in the year-earlier period.

Total revenue climbed 7.5% on an annual basis to $625.1 million from $581.6 million, and total operating expenses climbed year over year to $518.5 million from $511.8 million.

Reported net income rose 44.4% on an annual basis to $73.3 million, or 41 cents per share, from $50.7 million, or 28 cents per share.