Chinese demand pushes A.O. Smith earnings

Freeman Staff

Oct. 21, 2014

MILWAUKEE Helped by a 16 percent increase in sales in China, A.O Smith Corporation announced Tuesday its net earnings had increased by just over $4 million in the third quarter compared to last year to $50.6 million.

The increase resulted in an increase in earnings per share of $0.06 to $0.56. Overall, the company saw an 8.5 percent increase in sales to $581.6 million.

Chairman and CEO Ajita G. Rajendra credited a growing home construction market for increased demand for residential water heaters. Rajendra said demand for water heaters and water treatment products had a particularly favorable impact in China.