A.O. Smith reports Q3 EPS 90c, consensus 80c

Reports Q3 revenue $937.5M, consensus $910.06M. “A. O. Smith delivered strong performance in the third quarter driven by continued strength in residential water heater demand and lower year-over-year material costs in North America. While the economy remains challenged in China, our sales grew 9% in local currency driven by new product offerings and improvement across most of our product lines. I am also pleased with our performance in India where we have delivered 17% local currency sales growth through September,” noted Kevin Wheeler, chairman and chief executive officer. “Our global team remains focused on serving our customers which led to our strong results this quarter.”