logo
Plus   Neg
Share
Email

A.O. Smith Suspends FY20 Outlook, Share Buyback Amid COVID-19 - Quick Facts

While reporting financial results for the first quarter on Tuesday, water technology company A.O. Smith Corp. (AOS) said it is suspending its financial guidance for the full-year 2020, as it believes the current environment does not allow it to forecast performance with reasonable precision.

As the severity and duration of the disruption and pace of recovery in its end markets become clearer, the Company will look to return to its practice of providing a current year outlook.

Given the uncertain business environment, the Company suspended its share repurchase program in mid-March.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alaska Airlines is set to use sustainable aviation fuel (SAF) made from municipal solid waste following a partnership with SkyNRG Americas, claimed to be the pioneer and global leader for SAF. Alaska Airlines is one of the most fuel-efficient airlines in the U.S. with a strong commitment to sustainability. Discount retailer Dollar General said it is planning to hire up to 20,000 new employees this spring. The company will host in-person and virtual hiring events from April 19 through April 23 to support ongoing efforts across store, distribution, transportation and corporate operations. The retailer provided a comprehensive list of hiring events and available positions on its Careers website. Wells Fargo & Co. (WFC) on Tuesday reported net income applicable to common stock of $4.74 billion or $1.05 per share for the first quarter, sharply higher than $653 million or $0.01 per share in the year-ago quarter. Revenue for the quarter increased 2 percent to $18.06 billion from $17.72 billion...
Follow RTT