A.O. Smith reports Q1 EPS 95c, consensus 91c

Reports Q1 revenue $963.9M, consensus $953.21M. “I am pleased with the positive momentum from the sequential quarter-over-quarter growth we delivered in our North America water heater volumes. As expected, those volumes were lower year-over-year as the industry returned to a more normal cadence and we focused on running our plants efficiently. North America boiler sales increased 10% as our high-efficiency products continued to perform well in the market,” noted Kevin Wheeler, chairman and chief executive officer. “In China, continued economic challenges and soft consumer demand led to a 4% year-over-year decrease in local currency sales. However, we achieved a 200-basis point expansion in China margin compared to last year due to continued cost-saving efforts and benefits from our 2024 restructuring actions. Additionally, the Pureit acquisition contributed $12 million to sales in the quarter and integration is on track.”