WASHINGTON (dpa-AFX) - Water technology company A. O. Smith Corporation (AOS) Tuesday reported a profit of $137.3 million or $0.92 per share for the fourth quarter, compared with a loss of $120.1 million or $0.78 per share in the same quarter a year ago, primarily due to pension settlement expense of $417.3 million in the previous-year quarter.
Excluding one-time items, earnings were $144.4 million or $0.97 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.96 per share. Analysts' estimates typically exclude special items.
Sales for the quarter increased to $988.1 million from $936.1 million last year. The consensus estimate stood at $987.19 million.
For 2024, the company expects adjusted EPS to be in the range of $3.90-$4.15. Sales for the year are expected between $3.97 billion and $4.05 billion. Analysts expect the company to report earnings of $4.05 per share on revenue of $3.99 billion.
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