A. O. Smith Files Q3 2024 10-Q
Ticker: AOS · Form: 10-Q · Filed: Oct 23, 2024 · CIK: 91142
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
A. O. Smith's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
A. O. Smith Corporation filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and operational details for these periods are presented, including comparative figures from the previous year.
Why It Matters
This filing provides investors with the latest financial performance data for A. O. Smith, crucial for understanding the company's health and making investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- Q3 — Quarter (Reporting period for the filing)
- 2024 — Fiscal Year (Reporting period for the filing)
Key Players & Entities
- SMITH A O CORP (company) — Filer
- 20240930 (date) — Period of Report
- 20241023 (date) — Filing Date
- MILWAUKEE (location) — Business Address City
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
The filing date (FILED AS OF DATE) is 20241023.
What is the primary business of A. O. Smith Corp?
A. O. Smith Corp is in the HOUSEHOLD APPLIANCES industry, SIC code 3630.
Where is A. O. Smith Corp headquartered?
The company's business address is in MILWAUKEE, WI.
What fiscal year end does A. O. Smith Corp observe?
A. O. Smith Corp's fiscal year ends on 1231.
Filing Stats: 4,693 words · 19 min read · ~16 pages · Grade level 7.6 · Accepted 2024-10-23 14:35:12
Key Financial Figures
- $1.00 — ich Registered Common Stock (par value $1.00 per share) AOS New York Stock Exchange
Filing Documents
- aos-20240930.htm (10-Q) — 1020KB
- aos-20240930xex101.htm (EX-10.1) — 1641KB
- aos-20240930xex311.htm (EX-31.1) — 9KB
- aos-20240930xex312.htm (EX-31.2) — 8KB
- aos-20240930xex321.htm (EX-32.1) — 4KB
- aos-20240930xex322.htm (EX-32.2) — 4KB
- 0000091142-24-000171.txt ( ) — 7870KB
- aos-20240930.xsd (EX-101.SCH) — 36KB
- aos-20240930_cal.xml (EX-101.CAL) — 53KB
- aos-20240930_def.xml (EX-101.DEF) — 234KB
- aos-20240930_lab.xml (EX-101.LAB) — 522KB
- aos-20240930_pre.xml (EX-101.PRE) — 396KB
- aos-20240930_htm.xml (XML) — 892KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 -28 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.
Controls and Procedures
Controls and Procedures 29 Part II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 29 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 29 Item 5. Other Information 29 Item 6. Exhibits 29 Index to Exhibits 30
Signatures
Signatures 31 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
- FINANCIAL STATEMENTS
ITEM 1 - FINANCIAL STATEMENTS A. O. SMITH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (dollars in millions, except for per share data) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 902.6 $ 937.5 $ 2,905.7 $ 2,864.7 Cost of products sold 565.3 581.3 1,787.7 1,749.7 Gross profit 337.3 356.2 1,118.0 1,115.0 Selling, general and administrative expenses 176.6 174.9 557.3 542.4 Impairment expense — — — 15.6 Interest expense 1.5 2.4 4.3 10.9 Other expense (income), net 2.6 2.5 0.5 ( 10.5 ) Earnings before provision for income taxes 156.6 176.4 555.9 556.6 Provision for income taxes 36.5 41.0 132.0 137.3 Net Earnings $ 120.1 $ 135.4 $ 423.9 $ 419.3 Basic Net Earnings Per Share of Common Stock (1) $ 0.82 $ 0.90 $ 2.90 $ 2.79 Diluted Net Earnings Per Share of Common Stock (1) $ 0.82 $ 0.90 $ 2.87 $ 2.77 Dividends Per Share of Common Stock $ 0.32 $ 0.30 $ 0.96 $ 0.90 (1) Earnings per share amounts are calculated discretely and, therefore, may not add up to the total due to rounding. A. O. SMITH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (dollars in millions) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net earnings $ 120.1 $ 135.4 $ 423.9 $ 419.3 Other comprehensive earnings (loss) Foreign currency translation adjustments 7.6 ( 6.9 ) 0.4 ( 5.4 ) Unrealized losses on cash flow derivative instruments, less related income tax benefit of $ 0.3 and $ 0.5 in 2024, $ 0.3 and $ 0.8 in 2023 ( 0.9 ) ( 0.8 ) ( 1.6 ) ( 2.4 ) Adjustment to pension liability, less related income tax provision of $ 0.0 and $( 0.1 ) in 2024, $ 0.0 and $( 0.1 ) in 2023 0.1 — 0.2 0.1 Comprehensive Earnings $ 126.9 $ 127.7 $ 422.9 $ 411.6 See accompanying notes to unaudited condensed consolidated financial statements. 3 Table of Contents A. O. SMITH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (dollars