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A. O. Smith Q2 profit climbs 31.3% YOY


According to Market Intelligence, December 2022


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A. O. Smith Q2 profit climbs 31.3% YOY

A. O. Smith Corp. said its second-quarter normalized net income amounted to 36 cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.

EPS climbed 33.2% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $64.5 million, a gain of 31.3% from $49.1 million in the prior-year period.

The normalized profit margin climbed to 9.9% from 8.3% in the year-earlier period.

Total revenue increased 9.8% year over year to $653.5 million from $595.4 million, and total operating expenses climbed 6.6% on an annual basis to $550.5 million from $516.6 million.

Reported net income grew 23.6% on an annual basis to $71.0 million, or 40 cents per share, from $57.4 million, or 32 cents per share.