A.O. Smith Q2 Profit Rises; Lifts 2015 EPS Range

(RTTNews) - A.O. Smith Corp. (AOS) reported second-quarter 2015 net earnings of $71.1 million or $0.79 per share, up from $57.3 million or $0.63 per share in the second quarter 2014. The prior year result included after-tax non-operating pension costs of $3.0 million or $0.03 per share.

Sales for the quarter grew 10 percent to $653.5 million from last year's $595.4 million, due to higher prices in North America, higher boiler sales in the U. S. and continued demand for the company's water heating and water treatment products in China.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share and revenues of $627.54 million for the quarter. Analysts' estimates typically exclude special items.

The company increased its earnings guidance for 2015. The company believes it will achieve full-year earnings of between $3.04 and $3.09 per share, which excludes the potential impact from future acquisitions. Analysts now expect earnings of $2.80 per share.

Earlier, the company expected earnings in the range of $2.72 to $2.82 per share.