Analyst Consensus ?
ConsensusHold28 ratings
Bullish1035.7%
Neutral1657.1%
Bearish27.2%
1 unmapped firm rating excluded from the percentages.
A. O. Smith Corporation · AOS · FY2024 Q3 · Calendar Q4 2024
A.O. Smith sees boiler and water-treatment growth amid softer demand
A.O. Smith's quarter provides mixed evidence for a durable growth thesis: commercial boilers, water treatment, pricing, and capacity investments were supportive, but weaker China and North American water-heater demand kept the outlook balanced rather than clearly improving.
Reported Before market openNYSEIndustrials
$8.05B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.82
Consensus $0.83
EPS surprise
-1.2%
Reported versus consensus
Reported revenue
$902.6M
Consensus $951.8M
Revenue surprise
-5.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.5%
Event window
SPY move
-0.1%
Same window
Abnormal move
-0.4%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
-8.7%
Up to 20 sessions
AOSSPY benchmark
Ask FN2 about AOS FY2024 Q3
Transcript, numbers and history already loaded
Why did AOS fall 0.5% after missing EPS estimates in FY2024 Q3?What changed in AOS's guidance and outlook in FY2024 Q3?Give me the bull and bear case for AOS after FY2024 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis shifted the emphasis from the prior quarter's record sales and confident tone to softer Q3 demand, especially in China and North American water heaters. Boiler and water-treatment growth remained important offsets, while the Pureit acquisition and Juárez capacity plans continued as strategic priorities.
Guidance delta
Management reaffirmed full-year EPS guidance of $3.70-$3.85, flat sales, and $105-$115 million of capex; the analysis characterizes guidance sentiment as maintained.
Key takeaways
- Q3 sales and earnings declined as China demand weakened and North American water-heater volumes softened.
- Commercial boiler sales rose 15% and water-treatment sales rose 16% year over year in the supplied analysis.
- Management highlighted pricing, new capacity, tankless products, heat pumps, and the Pureit acquisition as growth initiatives.
- The company raised its dividend 6% to $0.34 per share, according to the supplied analysis.
Management priorities
- Expand Juárez tankless and heat-pump capacity
- Complete and integrate the Pureit acquisition
- Develop additional tankless models and commercial products
- Support heat-pump adoption and commercial condensing-boiler growth
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$59.22Current
$67Low
$76Average
$90High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 18, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Stifel | Buy | Buy | Maintain | Jul 31, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jun 10, 2026 |
| JP Morgan | Underweight | Neutral | Downgrade | May 15, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | May 4, 2026 |
| Baird | Neutral | Neutral | Maintain | May 1, 2026 |
| Goldman Sachs | Sell | Sell | Maintain | Apr 13, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 28, 2025 |
| Jefferies | Hold | Hold | Maintain | Apr 12, 2024 |
| Northcoast Research | Buy | Neutral | Upgrade | Dec 12, 2023 |
| Loop Capital | Hold | Buy | Downgrade | Jan 17, 2023 |
| Longbow Research | Buy | Neutral | Upgrade | Jul 6, 2022 |
| CFRA | Hold | Hold | Maintain | Jan 27, 2022 |
| Rosenblatt | Buy | Buy | Maintain | Jul 16, 2021 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | May 7, 2020 |
| Boenning & Scattergood | Outperform | Neutral | Upgrade | May 6, 2020 |
| KeyBanc | Overweight | Downgrade | Dec 9, 2019 | |
| Edward Jones | Hold | Buy | Downgrade | May 20, 2019 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jan 30, 2019 |
| BMO Capital | Market Perform | Outperform | Downgrade | Jan 30, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Apr 27, 2018 |
| Maxim Group | Hold | Buy | Downgrade | Jan 8, 2016 |
| Wedbush | Neutral | Outperform | Downgrade | Jan 28, 2015 |
| Northland Capital Markets | Market Perform | Outperform | Downgrade | Jan 5, 2015 |
| Northland | Market Perform | Outperform | Downgrade | Jan 5, 2015 |
| Sterne Agee | Buy | Neutral | Upgrade | Apr 22, 2014 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Apr 24, 2013 |
| Janney Capital | Buy | Neutral | Upgrade | Apr 24, 2013 |
| Sidoti & Co. | Neutral | Buy | Downgrade | Oct 18, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $59.22. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stifel Nicolaus | Analyst unavailable | $70 | $59.81 | +18.2% | Jul 31, 2026 |
| Stifel Nicolaus | Nathan Jones | $76 | $58.85 | +28.3% | Jul 20, 2026 |
| Oppenheimer | Analyst unavailable | $75 | $59.23 | +26.6% | Jun 10, 2026 |
| D.A. Davidson | Analyst unavailable | $67 | $59.61 | +13.1% | May 4, 2026 |
| Robert W. Baird | Analyst unavailable | $70 | $60.36 | +18.2% | May 1, 2026 |
| Oppenheimer | Bryan Blair | $80 | $60.32 | +35.1% | May 1, 2026 |
| Stifel Nicolaus | Nathan Jones | $75 | $61.84 | +26.6% | May 1, 2026 |
| Stifel Nicolaus | Nathan Jones | $78 | $67.18 | +31.7% | Apr 14, 2026 |
| Goldman Sachs | Susan Maklari | $69 | $79.62 | +16.5% | Feb 12, 2026 |
| D.A. Davidson | Matt Summerville | $75 | $74.31 | +26.6% | Feb 2, 2026 |
| Stifel Nicolaus | Nathan Jones | $85 | $73.17 | +43.5% | Jan 30, 2026 |
| Robert W. Baird | Michael Halloran | $77 | $73.17 | +30.0% | Jan 30, 2026 |
| Jefferies | Analyst unavailable | $75 | $70.4 | +26.6% | Jan 9, 2026 |
| Stifel Nicolaus | Analyst unavailable | $80 | $66.36 | +35.1% | Oct 29, 2025 |
| Robert W. Baird | Analyst unavailable | $76 | $66.84 | +28.3% | Oct 29, 2025 |
| UBS | Damian Karas | $74 | $67.3 | +25.0% | Jan 31, 2025 |
| Oppenheimer | Bryan Blair | $88 | $68.3 | +48.6% | Jan 14, 2025 |
| Robert W. Baird | Michael Halloran | $81 | $78.21 | +36.8% | Oct 23, 2024 |
| D.A. Davidson | Matt Summerville | $80 | $78.21 | +35.1% | Oct 23, 2024 |
| UBS | Damian Karas | $80 | $78.21 | +35.1% | Oct 23, 2024 |
| CFRA | Emily Nasseff Mitsch | $90 | $78.21 | +52.0% | Oct 22, 2024 |
| Robert W. Baird | Michael Halloran | $82 | $80.87 | +38.5% | Oct 14, 2024 |
| Stifel Nicolaus | Nathan Jones | $98 | $82.18 | +65.5% | Jul 24, 2024 |
| Stifel Nicolaus | Nathan Jones | $97 | $90.14 | +63.8% | Jul 18, 2024 |
| UBS | Damian Karas | $75 | $80.86 | +26.6% | Jul 8, 2024 |
| Jefferies | Saree Boroditsky | $90 | $86.31 | +52.0% | Apr 12, 2024 |
| UBS | Damian Karas | $64 | $58.45 | +8.1% | May 20, 2022 |
Track every rating change on AOS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationA. O. Smith Corporation (AOS) is a global manufacturer and marketer specializing in a comprehensive array of water heating and treatment solutions. Its operations span North America, China, Europe, and India, organized into two primary geographic segments: North America and Rest of World. The company's product portfolio is extensive, featuring residential and commercial water heaters (gas, heat pump, and electric models), boilers, storage tanks, and various water treatment systems. These products cater to a wide range of applications, including homes, apartments, and condominiums, as well as commercial entities such as restaurants, hotels, office buildings, laundries, car washes, small businesses, hospitals, and schools.…
Historical context
All AOS earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| JBHT J.B. Hunt Transport Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | -2.0% | J.B. Hunt: Strong demand, but margin repair remains central |
| FAST Fastenal Company | FY2026 Q3 · Calendar Q4 2026 | +3.3% | +1.1% | Fastenal Q3: Share Gains and Digital Adoption Lift Growth |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-18T20:00:41.806767+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-18T20:00:41.803916+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.