A.O. Smith’s Q2 revenue hit $1 billion, flat year-over-year but beating Wall Street estimates, while profits per share exceeded forecasts—yet the stock dipped due to China’s ongoing struggles and rising material costs. North America’s boiler business is booming, but residential water heater sales are softening, and inflation on steel, oil, and shipping is squeezing margins. The company lowered full-year guidance, signaling caution as price hikes take time to fully offset costs. CEO Stephen Shafer blames China’s weakness for much of the drag, while a strategic review of China operations could yield major decisions by next quarter. Back home, they’re streamlining their water treatment division to boost efficiency and regain footing in a tightening market.
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