Oct 29, 6:57 AM ET
A. O. Smith reported third-quarter 2026 sales of $940.5 million, roughly flat from a year earlier, with net earnings down 4% to $126.3 million and diluted EPS of $0.93 versus $0.94. The company also signed definitive agreements to sell an 81% stake in its China business to CPE, valued at about $400 million on a cash-free, debt-free basis, and reset its 2026 guidance to exclude China, which matters to shareholders because the company's earnings base and capital plans are changing.
- Q3 2026 net sales $940.5 million vs. $942.5 million; net earnings $126.3 million vs. $132.0 million; diluted EPS $0.93 vs. $0.94
- CPE to acquire an 81% interest in the China business; A. O. Smith keeps a 19% stake and a long-term brand license; deal expected to close in the first half of 2027
- China business valued at about $400 million cash-free, debt-free; total value expected to exceed $500 million including licensing economics
- 2026 guidance excluding China: net sales growth of about 4% and adjusted EPS of $3.42 to $3.52
Read the filing on SEC.gov ↗
Oct 27, 8:57 PM ET
A. O. Smith agreed to sell an 81% equity interest in its China business to CPE, an alternative asset manager, subject to closing conditions and regulatory approvals. The company keeps a 19% stake and a long-term brand license, and expects the deal to close in the first half of 2027. The company says it intends to use after-tax proceeds and repatriated cash mainly for share repurchases.
- China business valued at about $400 million on a cash-free, debt-free basis; total value including licensing economics expected to exceed $500 million
- About $80 million of cash currently held in China would be repatriated
- A. O. Smith retains a 19% interest and receives royalties under a long-term brand license
- Expected close in the first half of 2027; third quarter results and guidance due October 29, 2026
Read the filing on SEC.gov ↗
Jul 30, 6:58 AM ET
A. O. Smith reported second quarter 2026 net sales of $1,004.3 million, down 1% from a year earlier, and net earnings of $124.9 million, down 18%. The company narrowed its full-year 2026 sales growth outlook to 2% to 3% and its adjusted EPS outlook to $3.70 to $3.85, which lowers the top end of the prior range, while raising its share repurchase target to $300 million.
- Q2 2026 net sales were $1,004.3 million, down 1% from $1,011.3 million; net earnings were $124.9 million versus $152.2 million.
- Diluted EPS was $0.91 versus $1.07; adjusted EPS was $1.03, excluding $22.6 million of restructuring and impairment expenses.
- Full-year 2026 adjusted EPS guidance is $3.70 to $3.85, narrowed from $3.70 to $4.00; sales growth outlook is 2% to 3%, down from 2% to 4%.
- Share repurchase target increased 50% to $300 million; quarterly dividend of $0.36 per share is payable August 17.
Read the filing on SEC.gov ↗
Jun 22, 5:01 PM ET
A. O. Smith announced that Executive Chairman Kevin Wheeler will retire effective July 1, 2026, and remain on the board. CEO Stephen Shafer will become chairman at that time while continuing as president and CEO, combining the two roles under one executive.
- Kevin Wheeler retires as Executive Chairman effective July 1, 2026, and remains a board member
- Stephen Shafer, president and CEO since July 1, 2025, becomes chairman upon Wheeler's retirement
- Shafer joined the company as president and chief operating officer in March 2024
- Lead director Chris Mapes said the combined chairman and CEO role will further strengthen alignment across strategy and operations
Read the filing on SEC.gov ↗
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