A.O. Smith sees FY24 adjusted EPS $3.90-$4.15, consensus $4.08

Sees FY24 revenue $3.97B-$4.05B, consensus $4.01B. “The water heater industry shipment levels in early 2024 were as we expected and included some pull forward of demand ahead of the March 1 price increases. We expect to continue to benefit from resilient replacement demand as well as an improved outlook for residential new home construction. We are pleased with the growth we achieved in the Rest of World segment in the quarter, particularly in China, where economic challenges persist. We expect the mid-teens growth in India to continue. Given these factors, we reaffirm our 2024 sales projection of an increase between 3% and 5% year-over-year and our full-year EPS guidance of a range of between $3.90 and $4.15, a 6% year-over-year increase at the mid-point,” stated Wheeler.