Sees FY23 revenue $3.64B-$3.87B, consensus $3.72B. "We successfully weathered many challenges in 2022, including an unprecedented reset in the wholesale residential water heater industry and negative impacts from COVID-19-related restrictions on consumer demand in China. We enter 2023 with the inventory adjustments in the wholesale residential market largely behind us while staying mindful of headwinds in new home construction, which we believe remains in a deficit position. In China, we believe the lifting of certain COVID-19-related restrictions is a positive step to an improved economic environment. Our outlook for 2023 projects our sales to be flat year-over-year, +/- 3%. We anticipate improved profitability as input costs moderate and expect our full year EPS to be between $3.15 and $3.45, a 5% year-over-year increase at the mid-point," stated Wheeler.
Published first on TheFly
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