A.O. Smith Corp. reported Thursday double-digit sales growth in China in the first quarter of 2017, contributing to company management’s decision to lift the earnings guidance for the year.
Milwaukee-based water heater manufacturer and water technology company A.O. Smith (NYSE: AOS) reported net income of $87.7 million, or 50 cents per share, for the first quarter, compared with $73.5 million, or 41 cents per share, for the same period a year ago. Net sales grew 16 percent to $740 million from $636.9 million on revenue growth in China and the U.S.