A. O. Smith Q3 Adj. Profit Tops View; Lifts FY14 Earnings Outlook

(RTTNews) - A. O. Smith Corp. (AOS) Tuesday reported third-quarter net earnings of $50.6 million or $0.56 per share, up from $46.2 million or $0.50 per share in the third quarter last year.

Adjusted earnings for the latest third-quarter rose to $53.5 million or $0.59 per share from $50.4 million or $0.54 per share in the comparable quarter last year. On average, 11 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.57 per share for the quarter. Analysts' estimates typically exclude one-time items.

Sales for the quarter grew 8.5 percent to $581.6 million from $536.2 million last year, while ten analysts had expected revenues of $584.30 million for the quarter.

For the full year 2014, the company raised its guidance and it now expects earnings in the range of $2.23 to $2.27 per share and adjusted earnings in the range of $2.37 to $2.41 per share. Analysts now expect earnings per share of $2.40.

Earlier, the company expected earnings in the range of $2.20 to $2.26, and adjusted earnings in the range of $2.34 and $2.40.