MILWAUKEE (AP) — MILWAUKEE (AP) — A.O. Smith Corp. (AOS) on Thursday reported second-quarter net income of $124.9 million.
The Milwaukee-based company said it had profit of 91 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.03 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The maker of water heaters and boilers posted revenue of $1 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $986.4 million.
A.O. Smith expects full-year earnings in the range of $3.70 to $3.85 per share, with revenue in the range of $3.9 billion to $3.95 billion.
A.O. Smith shares have fallen 7% since the beginning of the year. The stock has fallen 13% in the last 12 months.
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