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
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.”
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