A. O. Smith (AOS) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter declined compared to the prior quarter but rose compared to the same quarter last year. The sequential decrease reflects a continuation of the downward trend seen in recent quarters.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter declined compared to the prior quarter but rose compared to the same quarter last year. The sequential decrease reflects a continuation of the downward trend seen in recent quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$937.5M
Revenue reported for this quarter.
Quarter-over-quarter
-2.4%
Change from the immediately preceding quarter.
Year-over-year
+7.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.8B
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 |
|---|---|---|
| Dec 31, 2022 | $936.1M | -6.0% |
| Mar 31, 2023 | $966.4M | -1.2% |
| Jun 30, 2023 | $960.8M | -0.5% |
| Sep 30, 2023 | $937.5M | +7.2% |
Revenue performance
The reported revenue decreased from the immediately preceding quarter, marking a further sequential decline. However, compared to the same quarter one year earlier, revenue was higher.
Quarterly comparison
Revenue was lower than the prior quarter, continuing the pattern of sequential declines observed throughout the fiscal year. In contrast, revenue exceeded the level reported for the same quarter in the prior year.
What to watch
The filing notes that revenue is reduced for variable consideration related to customer rebates and expected product returns, which could affect future reported amounts.