AO Smith (NYSE: AOS) reported earnings on July 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), AO Smith beat expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

Margins increased across the board.

Revenue details
 AO Smith logged revenue of $549.1 million. The 11 analysts polled by S&P Capital IQ predicted revenue of $518.0 million on the same basis. GAAP reported sales were 13% higher than the prior-year quarter's $484.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.52. The 13 earnings estimates compiled by S&P Capital IQ forecast $0.43 per share. Non-GAAP EPS of $0.52 for Q2 were 37% higher than the prior-year quarter's $0.38 per share. GAAP EPS of $0.45 for Q2 were 18% higher than the prior-year quarter's $0.38 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 36.1%, 300 basis points better than the prior-year quarter. Operating margin was 12.1%, 140 basis points better than the prior-year quarter. Net margin was 7.7%, 50 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $503.2 million. On the bottom line, the average EPS estimate is $0.42.

Next year's average estimate for revenue is $2.09 billion. The average EPS estimate is $1.81.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 177 members out of 182 rating the stock outperform, and five members rating it underperform. Among 58 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 57 give AO Smith a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AO Smith is hold, with an average price target of $40.11.

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