A. O. Smith (AOS) Revenue — Quarter Ended Mar 31, 2024
For the quarter, revenue declined compared to the immediately preceding quarter. However, revenue rose when compared with the same quarter one year earlier.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
For the quarter, revenue declined compared to the immediately preceding quarter. However, revenue rose when compared with the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$978.8M
Revenue reported for this quarter.
Quarter-over-quarter
-0.9%
Change from the immediately preceding quarter.
Year-over-year
+1.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.9B
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, 2023 | $960.8M | -0.5% |
| Sep 30, 2023 | $937.5M | +7.2% |
| Dec 31, 2023 | $988.1M | +5.6% |
| Mar 31, 2024 | $978.8M | +1.3% |
Revenue performance
The sequential decline followed a period of growth in the immediately preceding quarter, while the year-over-year gain represents a continuation of positive annual comparisons. The company's revenue recognition includes estimates for customer rebates and product returns, which are reflected in the reported figures.
Quarterly comparison
Compared to the immediately preceding quarter, revenue was lower, reversing the prior quarter's increase. Versus the same quarter one year earlier, revenue was higher, indicating sustained year-over-year growth.
What to watch
Future revenue may be subject to adjustments if actual customer rebate usage or product returns deviate from the company's estimates.