A.O. Smith Slashes FY24 Guidance As China Woes And Weak Water Heater Sales Drag Q3 Performance
Company Performance: A.O. Smith Corporation reported preliminary third-quarter results with sales of $902.6 million, below estimates, and cut its FY24 EPS guidance from $3.95–$4.10 to $3.70–$3.85 due to declining sales in China and North America.
Market Response: Following the disappointing results, AOS shares fell 6.81% to $80.39, while the company announced a 6% dividend increase, reflecting an 8% compound annual growth rate over the past five years.
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A.O. Smith Slashes FY24 Guidance As China Woes And Weak Water Heater Sales Drag Q3 Performance
Company Performance: A.O. Smith Corporation reported preliminary third-quarter results with sales of $902.6 million, below estimates, and cut its FY24 EPS guidance from $3.95–$4.10 to $3.70–$3.85 due to declining sales in China and North America.
Market Response: Following the disappointing results, AOS shares fell 6.81% to $80.39, while the company announced a 6% dividend increase, reflecting an 8% compound annual growth rate over the past five years.
A.O. Smith Slashes FY24 Guidance As China Woes And Weak Water Heater Sales Drag Q3 Performance
Company Performance: A.O. Smith Corporation reported preliminary third-quarter results with sales of $902.6 million, below estimates, and cut its FY24 EPS guidance from $3.95–$4.10 to $3.70–$3.85 due to declining sales in China and North America.
Market Response: Following the disappointing results, AOS shares fell 6.81% to $80.39, while the company announced a 6% dividend increase, reflecting an 8% compound annual growth rate over the past five years.
