RTTNews | Jan 28, 2021 07:15AM EST

07:14 Thursday, January 28, 2021 (RTTNews.com) - A. O. Smith Corporation (AOS) announced its full-year 2021 earnings guidance in a range between $2.40 and $2.50 per share. The mid-point of the guidance range represents an increase of 13 percent compared with 2020 adjusted earnings results.

Fourth quarter earnings per share was $0.74, compared to $0.56, prior year. Sales were $834.5 million, up approximately 11 percent from a year ago, primarily due to higher residential water heater volumes in North America and higher sales in China.

As of December 31, 2020, the company had cash and marketable securities balances totaling $689.6 million and undrawn borrowing capacity on its credit facility totaling $500.0 million. The company's total debt was $113.2 million at the end of December.

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