A.O. Smith Reduces 2024 Adjusted EPS Outlook To $3.70-$3.85 (Prior $3.95 - $4.10) Vs. $3.82 Est.; Sees Net Sales Of $3.80B-$3.90B Vs. $3.868B Est.
Portfolio Pulse from Benzinga Newsdesk
A.O. Smith has reduced its 2024 adjusted EPS outlook to $3.70-$3.85 from the previous $3.95-$4.10, citing challenges in consumer demand in China and cautious expectations for North American markets. The company also projects net sales of $3.80B-$3.90B, slightly below estimates.
October 22, 2024 | 11:11 am
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A.O. Smith has revised its 2024 adjusted EPS outlook downward to $3.70-$3.85, reflecting a cautious stance on consumer demand in China and North America. The company also anticipates net sales of $3.80B-$3.90B, slightly below market estimates.
The downward revision of the EPS outlook indicates potential challenges in A.O. Smith's key markets, which could negatively impact investor sentiment and the stock price in the short term. The company's cautious approach to demand in China and North America suggests potential headwinds.
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