A. O. Smith (AOS) Revenue — Quarter Ended Mar 31, 2023
Revenue increased from the prior quarter but decreased compared with the same period a year ago. The sequential gain reversed the decline seen in the two preceding quarters.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue increased from the prior quarter but decreased compared with the same period a year ago. The sequential gain reversed the decline seen in the two preceding quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$966.4M
Revenue reported for this quarter.
Quarter-over-quarter
+3.2%
Change from the immediately preceding quarter.
Year-over-year
-1.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $965.9M | +12.3% |
| Sep 30, 2022 | $874.2M | -4.4% |
| Dec 31, 2022 | $936.1M | -6.0% |
| Mar 31, 2023 | $966.4M | -1.2% |
Revenue performance
Reported revenue rose sequentially, marking a rebound after consecutive quarterly declines. The year-over-year comparison, however, showed a decrease.
Quarterly comparison
Compared with the immediately preceding quarter, revenue was higher, but relative to the same quarter one year earlier it was lower. No other quarterly figures were provided for additional context.
What to watch
The allowance for credit losses increased from the end of the prior year, and revenue may be affected by variable considerations such as customer rebates and product returns.