A O Smith jumps on upbeat Q4 results, higher FY earnings forecast

A O Smith

31/01/2023 14:04

** Shares of water tech co A O Smith  AOS.N  up 4.1% at $62
premarket
    ** Stock on track to open at its highest in nearly three
weeks, if gains hold
    ** Co sees FY23 EPS in range of $3.15-3.45, above analysts'
expectations of $3.07 - Refinitiv
    ** Reports Q4 net sales of $936.1 mln, beating Wall Street
consensus of $919.3 mln
    ** Q4 adj EPS of 86 cents beats estimates of 79 cents
    ** Co expects to spend $200 mln in share repurchase in 2023
    ** Says guidance excludes potential impacts from future
acquisitions and assumes the COVID-19-related impacts in China
improve in second half of the year and do not significantly
impact its operations or employees, customers or suppliers
    ** Up to last close, stock had risen 4% YTD compared with a
4.6% increase in the S&P 500 index  .SPX 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))