A. O. Smith Corp. Raises FY20 Earnings Guidance

(RTTNews) - A. O. Smith Corp. (AOS) increased its full year 2020 earnings guidance to a range between $1.91 and $1.94 per share and adjusted earnings guidance to a range between $1.95 and $1.98 per share. The company noted that the mid-point of the guidance range represents an increase of ten percent over prior 2020 earnings guidance. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.87. Analysts' estimates typically exclude special items.

Third quarter adjusted earnings per share was $0.66, compared to $0.53, previous year. On average, 13 analysts expected the company to report profit per share of $0.52, for the quarter.

Third quarter sales were $760.0 million, four percent higher than $728.2 million, prior year. Analysts expected revenue of $718.3 million, for the quarter.

As of September 30, 2020, the company had cash and marketable securities balances totaling $509.0 million. The company's total debt was $113.9 million at the end of September.