MILWAUKEE — During the first
quarter of 2015, A.O. Smith Corporation saw sales grow 15
percent in China and 12 percent in North America due to higher
water heater and commercial boiler sales.
The Milwaukee-based water technology company announced Friday it
had record first quarter net earnings of $58.4 million or $.65
per share on record first quarter sales of $618.5 million. First
quarter 2014 net earnings were $46.7 million or $.51 per share,
which included after-tax non-operating pension costs of $3
million or $.03 per share.
New government regulations under the National Appliance Energy
Conservation Act that mandate increasing the minimum energy
efficiency standards for residential water heaters in the U. S.,
commonly referred to as NAECA III, went into effect earlier this
month on April 16.
First quarter sales for the North America segment, which
includes U.S. and Canadian water heaters and boilers, increased
10 percent to $429.2 million compared with first quarter 2014
sales of $388.5 million.