A. O. Smith Q3 Profit Up, Lifts FY15 Earnings View

(RTTNews) - A. O. Smith Corp. (AOS) Monday announced a surge in third quarter earnings as its sales grew 7.5 percent from the prior year. Looking ahead the the company raised its full year earnings to a range of $3.08 to $3.12 per share, expecting a continued strong performance in North America, while analysts expect $3.07 per share. Earlier projection was between $3.04 and $3.09 per share, which excludes the potential impact from future acquisitions. Sales in China for the nine months period increased 15 percent from the previous year and the company expect to maintain that growth rate for the full year.

For the third quarter, the company reported earnings of $73.6 million or $0.82 per share, up from $50.6 million or $0.56 per share a year ago. The results include after-tax non operating pension costs of $2.9 million or $0.03 per share.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.79 per share. Analysts estimates usually excludes special items.

Net sales for the quarter grew to $625.1 million from $581.6 million in the prior year. Wall Street was looking for $649.97 million.