A. O. Smith Corp (AOS) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.98 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.91. The company posted revenue of $667.00 million in the period, compared to analysts expectations of $694.03 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
Many Wall Street Analysts have commented on A. O. Smith Corp. A. O. Smith Corp was Initiated by Longbow to “Neutral” on Jun 17, 2016.
A. O. Smith Corp opened for trading at $90.89 and hit $91.06 on the upside on Wednesday, eventually ending the session at $90.57, with a gain of 0.21% or 0.19 points. The heightened volatility saw the trading volume jump to 6,85,359 shares. Company has a market cap of $7,929 M.
Investors should note that on Jul 11, 2016, A. O. Smith Corp announced a cash dividend of $0.2400. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Aug 15, 2016.
In a different news, on Jun 1, 2016, Peter R Martineau (Senior Vice President – CIO) sold 3,800 shares at $83.10 per share price. According to the SEC, on May 26, 2016, Ajita G Rajendra (Chairman and CEO) sold 5,000 shares at $83.70 per share price. On May 25, 2016, Charles T Lauber (SVP, Strategy & Corporate Dev.) sold 1,072 shares at $83.54 per share price, according to the Form-4 filing with the securities and exchange commission.
A. O. Smith Corporation operates its business through two segments which include North America and Rest of World. Both segments manufacture and market a range of residential gas gas tankless and electric water heaters and commercial water heating equipment. The North America segment manufactures and markets specialty commercial water heating equipment condensing and non-condensing boilers and water systems tanks. The Company serves residential and commercial end markets in North America with a range of products including water heaters boilers and others. The Rest of World segment manufactures and markets water treatment products primarily in Asia. The Rest of World segment includes China Europe and India. The Company supplies water heaters to the residential market in China with a range of product offering including electric gas gas tankless heat pump and solar units as well as combi boilers.