Outlook
2024 Outlook
(in millions except per share amounts)
|
2023 |
2024 Outlook |
|||
|
Actual |
Low End |
High End |
||
|
Net sales |
$ 3,853 |
$ 3,800 |
$ 3,900 |
|
|
Diluted earnings per share |
$ 3.69 |
$ 3.70 |
$ 3.85 |
|
|
Adjusted earnings per share |
$ 3.811 |
$ 3.70 |
$ 3.85 |
|
|
1 Excludes restructuring and impairment expenses. See accompanying GAAP to Non-GAAP reconciliations |
"Because we expect consumer demand to remain challenged in China through the end of the year and we are cautious about North America residential and commercial water heater end-market demand, we announced on October 11, and reaffirm today, that we lowered our sales outlook for 2024 to be approximately flat to last year. We also lowered our full year EPS outlook to a range of between $3.70 and $3.85, a year-over-year decline of 1% over 2023 adjusted EPS, at the midpoint," stated Wheeler. "Our improved lead times are expected to continue through the remainder of the year, and we have adjusted our North America residential and commercial water heater facilities to improve production efficiencies at lower levels."
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