A. O. Smith Reports Preliminary Q3 Sales Of $903M (Est $957.73M), Down 4% Y/Y, Due To Lower Sales In China And North America Water Heating
Portfolio Pulse from Benzinga Newsdesk
A. O. Smith reported preliminary Q3 sales of $903 million, missing the estimated $957.73 million and marking a 4% year-over-year decline. The decrease is attributed to lower sales in China and North America water heating.
October 11, 2024 | 10:57 am
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A. O. Smith's preliminary Q3 sales of $903 million fell short of expectations and decreased by 4% year-over-year, primarily due to reduced sales in China and North America water heating.
The preliminary sales figures for A. O. Smith are below market expectations and show a year-over-year decline, which is likely to negatively impact the stock price in the short term. The decline is attributed to lower sales in key markets, China and North America, which are significant for the company's revenue.
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