A.O. Smith reports Q1 adjusted EPS $1.00, consensus 98c

Reports Q1 revenue $978.8M, consensus $995.97M. “A. O. Smith delivered a strong performance in the first quarter primarily driven by higher sales of our commercial high efficiency water heaters and lower steel costs in North America as we saw continued healthy water heater demand. We achieved sales growth of 6% in China, despite the ongoing macroeconomic challenges in that country, as our recently released kitchen products continue to be well received in the market,” noted Kevin Wheeler, chairman and chief executive officer. “I am pleased with our global team’s efforts in servicing our customers during the quarter.”