A.O. Smith reports Q2 EPS $1.07, consensus 99c

Reports Q2 revenue $1.01B, consensus $1B. “During the second quarter, our team delivered continued steady growth in commercial boilers and achieved another sequential quarter of North America water heater volume growth. While we believe we benefited from some pre-tariff and price increase pull ahead, we actively worked with our customers to limit the impact to help enable greater operational efficiencies,” noted Steve Shafer, CEO. “While the broad economic challenges in China persist, sales in our legacy India business grew 19% in local currency in the quarter, and Pureit, our recent acquisition in India, contributed $16 million in sales. Additionally, the restructuring actions we took in the fourth quarter of last year have now driven two consecutive quarters of sequential margin improvement in both our North America and Rest of World segments.”