Reports Q4 revenue $912.4M, consensus $953.9M. “After three years of record sales, A. O. Smith’s 2024 sales declined due to a weak economy in China continuing to negatively impact consumer demand and soft North America water heater demand in the second half of the year. Boiler sales increased 8% in North America led by our high-efficiency commercial products,” noted Kevin Wheeler, chairman and chief executive officer. “Despite facing further weakening of the Chinese economy and inventory fluctuations in the North America water heater channel, I am proud of the actions our teams took to optimize our businesses while also continuing to make investments for the future. I am also pleased to welcome Pureit to the A. O. Smith family. We remain focused on taking care of our customers and offering innovative, market-leading water heating and water treatment products.”
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