MILWAUKEE — A.O. Smith Corp. said Tuesday its second-quarter net
income rose 36 percent to $57.3 million, or 63 cents a share,
from $42.1 million, or 45 cents, a year earlier.
Sales increased 8.4 percent to $595.4 million, the
Milwaukee-based water technology company said.
"A. O. Smith enjoyed excellent performance in the second quarter
thanks to strong contributions from our China business, with
sales up 17 percent and operating profit up significantly in the
quarter," said Chairman and Chief Executive Officer Ajita G.
Rajendra. "Our U. S. water heater and boiler sales continue to
drive our domestic growth."
The company raised its earnings outlook for the full year to
between $2.20 and $2.26 a share. For 2015, the company is
anticipating earnings of $2.60 a share.