The company said net sales for Q3 2024 fell 4% to $902.6 million, net earnings fell 11% to $120.2 million, and diluted earnings per share fell 9% to $0.82.

1. 01

   The company said net sales for Q3 2024 fell 4% to $902.6 million, net earnings fell 11% to $120.2 million, and diluted earnings per share fell 9% to $0.82.

2. 02

   A. O. Smith said North America sales for Q3 were $703.3 million, down 1%, with a segment margin of 23.1%. It said Rest of World sales were $210.3 million, down 10%, with a segment margin of 6.5%. The company cited weak consumer demand as the reason third-party sales in China fell 17% in local currency.

3. 03

   The company said it reaffirmed its revised 2024 EPS outlook of $3.70 to $3.85, and its full-year net sales outlook is $3,800 million to $3,900 million. It said the outlook excludes the potential impact of future acquisitions.

4. 04

   The company said cash provided by operations for the first 9 months of 2024 was $359.9 million and free cash flow was $282.5 million. It also said it repurchased 2.9 million shares for $237.1 million. The company said it signed an agreement with Unilever to acquire Pureit for $120 million and expects the deal to close by the end of 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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