A.O. Smith announces record sales for 2014

Special to The Freeman

Jan. 27, 2015

MILWAUKEE — Last year was record breaking for A. O. Smith Corporation, which announced sales of $2.36 billion and net earnings of $207.8 million, or $2.28 per share, for 2014 compared with $169.7 million, or $1.83 per share the previous year.

According to the Tuesday announcement from the Milwaukee-based water technology company, sales for 2014 grew 9 percent from the $2.15 billion achieved in 2013. Sales in China grew 18 percent to approximately $695 million for the year.

In the fourth quarter, the company earned $53.2 million or $0.59 per share on sales of $626.8 million compared with net earnings of $42.4 million or $0.46 per share in the fourth quarter 2013 on sales of $558.9 million, according to the announcement.

“Our 140th anniversary year was another record-setting year for A. O. Smith,” said Ajita G. Rajendra, chairman and chief executive officer, in a statement. “Our U. S. water heater and boiler results benefited from the strengthening U. S. economy. Our sales in China continued to grow faster than two times that country’s GDP thanks to an improved water heater product mix and an increase in water heater and water treatment volumes, including growth of our online sales which surpassed $50 million in 2014.”

For more information, go to www.aosmith.com.