SMITH A O CORP

A. O. Smith Corporation reported its third-quarter financial results, showing a slight decrease in net sales and net earnings compared to the prior year. For the nine months ended September 30, 2026, both net sales and net earnings also declined year-over-year. The company completed a significant acquisition of Leonard Valve for $469.5 million in January 2026, which impacted its balance sheet with increased goodwill and intangible assets. Restructuring charges were recorded in the second quarter related to the water treatment business. Dividends paid increased for the nine-month period.

A. O. Smith reported Q2 2026 net earnings of $124.9 million, or $0.91 per diluted share, a decrease from $152.2 million and $1.07 per share in Q2 2025. Net sales slightly decreased to $1,004.3 million. The company completed the acquisition of Leonard Valve for $470 million and incurred $22.6 million in restructuring and impairment expenses during the quarter.

A. O. Smith Corporation reported Q2 2026 sales of $1 billion, a 1% decrease year-over-year. Net earnings were $125 million, or $0.91 diluted EPS, down 18% and 15% respectively, while adjusted EPS decreased 4% to $1.03. North America sales grew 5% due to the Leonard Valve acquisition and boiler sales, partially offset by lower residential water heater volumes, but Rest of World sales declined 19% due to a weak China market. The company increased its full-year 2026 share repurchase target to $300 million and narrowed its full-year sales and adjusted EPS guidance.

A. O. Smith Corporation announced that Kevin J. Wheeler will retire as Executive Chairman, effective July 1, 2026. He will continue to serve as a member of the Board of Directors. Stephen M. Shafer, the current President and Chief Executive Officer, will assume the role of Chairman upon Mr. Wheeler's retirement, continuing his current executive duties. Mr. Shafer joined the company in March 2024 and became President and CEO in July 2025.

A. O. Smith Corporation announced the appointment of Carrie Anderson as its new Executive Vice President and Chief Financial Officer, effective July 1, 2026. Ms. Anderson will succeed Charles T. Lauber, who is retiring but will remain temporarily to facilitate the transition. Ms. Anderson brings extensive experience from global industrial, manufacturing, and technology companies, having previously served as CFO at The Campbell's Company and Integra LifeSciences. Her compensation package includes an annual base salary, participation in bonus and equity plans, a $1,500,000 restricted stock unit award, and relocation assistance.

A. O. Smith Corporation reported a decrease in net sales and net earnings for the first quarter of 2026 compared to the prior year. Net sales fell to $945.6 million, and net earnings were $118.0 million, resulting in basic EPS of $0.85. The company completed the acquisition of Leonard Valve for $470.0 million, which was financed by a new three-year term loan, and saw a significant increase in cash provided by operating activities.

A. O. Smith Corporation reported first quarter 2026 results with sales of $945.6 million, a 2% decrease year-over-year, and diluted EPS of $0.85, an 11% decrease. The company lowered its full-year 2026 diluted EPS guidance to $3.60-$3.90 and adjusted EPS guidance to $3.70-$4.00, primarily due to continued challenging conditions in China and softer residential water heater demand in North America. Despite these challenges, the North America segment saw a 1% sales increase, benefiting from the Leonard Valve acquisition and pricing actions, while the company generated strong operating and free cash flow.

A. O. Smith Corporation held its Annual Meeting on April 13, 2026, where Dr. Ilham Kadri received more "withheld" votes (50,510,430) than "for" votes (46,774,289) for her re-election to the Board. Consequently, Dr. Kadri tendered her resignation in accordance with the company's Director Resignation Policy, pending Board determination. Stockholders also approved the compensation of named executive officers and ratified Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026.