Weak Demand in Domestic Residential HVAC Market

A. O. Smith's chairman and CEO noted weak customer demand, primarily in the domestic residential HVAC and water heating markets, and a more than 10 percent decline in the HVAC market segment for Electrical Products.

“The improvement in first quarter performance resulted from the addition of GSW and a lower tax rate, which more than offset weak customer demand, primarily in the domestic residential HVAC and water heating markets”

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