A O Smith Q1 2021 Earnings Report
Key Takeaways
A. O. Smith Corporation announced its first quarter 2021 results, featuring record earnings per share and a 21% increase in sales, driven by solid execution despite pandemic and weather-related challenges and rising material costs.
Total sales of $769.0 million, an increase of 21 percent compared with Q1 2020
Net earnings of $97.7 million, an increase of 89 percent compared with Q1 2020
Record Q1 EPS of $0.60, an increase of 88 percent compared with Q1 2020
Sales growth between 14 and 15 percent, upgraded from 10 percent growth announced in January 2021
A O Smith
A O Smith
A O Smith Revenue by Segment
Forward Guidance
A. O. Smith is upgrading its full-year 2021 earnings guidance by six percent from its previous guidance to a range between $2.55 and $2.65 per share.
Positive Outlook
- Solid demand for boiler products continued in April.
- Solid demand for water treatment products continued in April.
- Solid demand for China products continued in April.
Challenges Ahead
- Rapidly-rising material costs
- Continued need to expedite freight to overcome supplier shipping and production delays
- Continued headwinds in supply chain
- Continued headwinds in logistics
- Weather-related plant closures
Revenue & Expenses
Visualization of income flow from segment revenue to net income