A. O. Smith Projects Robust Sales Growth and Strategic Expansion for 2024

North America: A. O. Smith Corporation is set to benefit from strong demand for water heater products and higher shipments in North America, projecting an 8-10% sales growth in its North America boiler and water treatment businesses in 2024.

Internationally, the demand for tankless water heaters and kitchen appliances in China boosts its performance. The company anticipates overall sales growth of 3-5% for 2024. Strategic acquisitions, including Impact Water Products and Atlantic Filter, have expanded its customer base and product lines.

Despite rising costs, A. O. Smith maintains a strong liquidity position, with substantial cash reserves and ongoing shareholder rewards through dividends and share repurchases.

Source: MSN