Plus   Neg

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
Former Google engineer Anthony Levandowski was sentenced by a U.S. judge to eighteen months in prison for stealing trade secrets from Google's self-driving car unit before he defected to Uber's rival unit. Levandowski admitted that from 2009 to 2016, he worked in Google's self-driving car program, known then as Project Chauffer. JetBlue has strengthened its face covering policy, by prohibiting face masks with vents or exhalation valves, starting August 10. It will also no longer allow customers to claim exemptions from wearing a face covering altogether. Home Depot, Inc. is set to open three new distribution centers in Georgia over the next 18 months, which is expected to create an additional 1,000 new jobs in Greater Atlanta, including full-time and part-time positions. The home improvement retailer has already created more than 5,000 new jobs in Georgia over the last five years.
Follow RTT