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ACSmith A. O. Smith Reports Record Third Quarter Sales October 28 , 2021 MILWAUKEE , Oct. 28 , 2021 / PRNewswire / -- ACSmith Third Quarter 2021 Highlights ( Comparisons are year - over - year , unless otherwise noted ) • Record sales of $ 914.6 million , an increase of 20 % driven by inflation - related pricing actions and strong worldwide demand • Net earnings of $ 131.6 million , an increase of 25 % fueled by the benefit of pricing actions and higher volumes and despite higher material and logistics costs • Earnings per share ( " EPS " ) of $ 0.82 , an increase of 26 % amid resilient sales and a $ 0.03 per share favorable tax impact • Nine - month free cash flow¹ of $ 331.5 million , an increase of 13 % driven by strong earnings • Raising full year 2021 outlook for both sales and EPS Innovation has a name . ¹Reconciliation of operating cash flow to free cash flow is provided in the attached financial tables Product demand is strong across all geographies resulting in record third quarter sales . ( in millions , except per share amounts ) Net sales Net earnings Diluted earnings per share Q3 2021 $ 914.6 $ 131.6 Global water technology company A. O. Smith Corporation ( the " Company " ) ( NYSE : AOS ) today announced its record third quarter 2021 results . Key Financial Metrics Third Quarter Q3 2020 $ 760.0 $ 105.4 % change vs Q3 2020 20 % 25 % $ 0.82 $ 0.65 " Our global A. O. Smith team delivered strong third quarter results driven by a 20 % increase in sales compared with the third quarter of 2020 , " noted Kevin J. Wheeler , chairman and chief executive officer . " Demand for our products is strong across all geographies , particularly in North America , resulting in record third quarter sales . Our record performance is a result of focused execution globally and tremendous effort by our procurement and operations teams in an environment in which we were challenged with component shortages , logistical bottlenecks and rapidly rising costs . We remain in close contact with our suppliers and logistics providers to troubleshoot and resolve bottlenecks , as the environment can change quickly and frequently . I have confidence in our teams ' abilities to continue to successfully navigate through this environment . 26 % " Our strategy of focusing on growing profitably through innovative and energy - efficient water heating and water treatment products , while capitalizing on a steady replacement cycle is paying dividends , " continued Wheeler . " We believe our strong performance continues to position us well to execute our long - term strategy and achieve sustained growth in sales and earnings . " Segment - level Performance North America Sales in the North America segment of $ 658.2 million increased 21 % compared with the third quarter of 2020 driven primarily by price increases , largely on water heaters , which were implemented in response to rapidly rising material costs and increased transportation costs , along with higher