A. O. Smith (AOS) Revenue — Quarter Ended Jun 30, 2023
Revenue for the quarter declined compared to both the prior quarter and the same period a year earlier. The decrease was modest relative to the preceding quarter and similar in magnitude to the year-over-year decline.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue for the quarter declined compared to both the prior quarter and the same period a year earlier. The decrease was modest relative to the preceding quarter and similar in magnitude to the year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$960.8M
Revenue reported for this quarter.
Quarter-over-quarter
-0.6%
Change from the immediately preceding quarter.
Year-over-year
-0.5%
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 |
|---|---|---|
| Sep 30, 2022 | $874.2M | -4.4% |
| Dec 31, 2022 | $936.1M | -6.0% |
| Mar 31, 2023 | $966.4M | -1.2% |
| Jun 30, 2023 | $960.8M | -0.5% |
Revenue performance
The reported revenue moved lower from the immediately preceding quarter. The decline was less pronounced than the sequential drop seen in the prior quarter.
Quarterly comparison
Compared with the same quarter one year earlier, revenue also decreased. The year-over-year change was similar in scale to the sequential change.
What to watch
The filing notes that revenue is reduced for variable consideration such as customer rebates and expected product returns, which could affect future reported amounts.