Plus   Neg

A. O. Smith Increases Adj. Earnings Guidance - Quick Facts

A. O. Smith Corp. (AOS) announced, for 2018, the company increased adjusted earnings guidance to a range of $2.55 to $2.61 per share. The company noted that the midpoint of the adjusted 2018 earnings guidance represents a 19 percent increase over 2017 adjusted earnings per share. A. O. Smith expects organic growth, supported by stable water heater replacement demand, will result in sales growth for the year between 10 and 10.75 percent.

First-quarter adjusted net earnings of $103.8 million or $0.60 per share were over 18 percent higher than the first quarter of 2017 and excluded $5.0 million or $0.03 per share of after-tax restructuring and impairment charges related to the closing of the company's commercial water heater plant in Renton, Wash., and transfer of production to plants in Tennessee and South Carolina. Sales were 6.5 percent higher than sales of $740.0 million reported in the same quarter of 2017.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. recalled about 15,800 units of Off-Road and Utility Vehicles in North America for possible crash hazard, according to a statement issued by the U.S. Consumer Product Safety Commission. There were also an additional 711 units sold in Canada. AstraZeneca's efforts to supply Covid-19 vaccine doses from its Italian unit to Australia has been blocked by the European Union and the Italian Government, citing Australia being non-vulnerable region and delays in domestic supply, among others. Italy's proposal to deny AstraZeneca's request for authorization to export COVID-19 vaccines was subsequently approved by the European Commission. Chipotle Mexican Grill, Inc. is teaming with e.l.f. Cosmetics to launch a limited edition beauty collection on March 10, aiming to support plant-based lifestyles and responsibly-sourced products. The e.l.f. x Chipotle makeup collection will comprise cruelty-free and vegan products inspired by Chipotle's responsibly-raised food.
Follow RTT