The water technology enterprise, A. O. Smith Corporation, disclosed its fourth-quarter profit of $137.3 million, or $0.92 per share, on Tuesday. This marks a significant improvement from the loss of $120.1 million, or $0.78 per share, reported during the same quarter of the previous year, largely due to a pension settlement expense of $417.3 million.
When excluding one-off items, the earnings totaled $144.4 million or $0.97 per share, outperforming the Thomson-Reuters analysts' average prediction of $0.96 per share. Traditionally, special items aren't included in analysts' forecasts.
The quarter saw a sales revenue increase from last year's $936.1 million to $988.1 million, marginally surpassing consensus estimates of $987.19 million.
Looking at the company's projections for 2024, the adjusted EPS is anticipated to hover between $3.90-$4.15. Furthermore, the company's annual sales are forecasted to reach anywhere between $3.97 billion and $4.05 billion. Analysts predict the firm will declare earnings of $4.05 per share on a revenue figure of $3.99 billion.
