10 slides from A.o. Smith's earnings presentation, Jul 29, 2021
Slide 1: Second Quarter 2021 Results
(<6 Smith. Innovation has a name. Second Quarter 2021 Results
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains statements that we believe are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of words such as “may,” “will,” “expect,” “i
Slide 3: Second Quarter Commentary
Second Quarter Commentary Record Q2 Boiler sales NA Water U.S. Water Fourth 2021 China sales EPS of $0.73 grow 35 Treatment Heater water heater grow 26 percent grows 17 volumes price increase percent in percent increase effective local currency August 1 3
Slide 4: Second Quarter Results
Second Quarter Results $ in millions except per share data 2021 2020 Change % Change Sales $ 859.8 $ 663.9 $ 195.9 30% Net Earnings $ 118.2 $ 67.8 $ 50.4 74% EPS $ 0.73 $ 0.42 $ 0.31 74% 4
Slide 5: Second Quarter Sales
Second Quarter Sales $ in millions 2021 2020 Change % Change North America $ 603.6 $ 480.5 $ 123.1 26% Rest of World 263.2 189.7 73.5 39% Intersegment (7.0) (6.3) (0.7) Total $ 859.8 $ 663.9 $ 195.9 30% 5
Slide 6: Second Quarter Earnings (Loss)
Second Quarter Earnings (Loss) $ in millions 2021 2020 Change % Change Segment Earnings (Loss) North America $ 141.7 $ 105.4 $ 36.3 34% Rest of World 22.3 (5.8) 28.1 NA Intersegment - (0.3) Total Segment Earnings 164.0 99.3 64.7 65% Corporate (11.8) (9.8) (2.0) (20)% Interest Expense (0.9) (2.5) 1.6
Slide 7: Strong Capital Position
Strong Capital Position1 Cash Flow from Operations $ in millions $196M 5.5% $582M $225 $196 $200 $179 Cash provided Debt to Cash balance2 $175 by operations capital ratio $150 $125 $476M ~3.0M $100 $75 Net cash position Shares repurchased $50 totaling ~$198M $25 $0 1 as of June 30, 2021 2 includes c
Slide 8: 2021 EPS Guidance and Assumptions
2021 EPS Guidance and Assumptions ($ in millions) 2021 Projections EPS $2.70 to $2.76 per share Operating Cash Flow $500 - $525 Capital Expenditures $85 - $90 Depreciation & Amortization Approximately $80 Corporate/Other Expense Approximately $50 Effective Tax Rate Approximately 23 percent Stock Rep
Slide 9: 2021 Outlook
2021 Outlook • Revenue increases between 17 and 18 percent, including two percent growth from China FX benefit • U.S. residential water heater volumes up approximately three percent, commercial water heater industry volumes up approximately two percent • China sales increase 20 – 22% in local curren
Slide 10: (X6 Smith.
(X6 Smith. Innovation has a name.