Watts Water reports record Q3: sales $455M (+18%), EPS $1.37 (+41%), raises FY outlook

WATTS WATER TECHNOLOGIES INC

2021-Q3 EPS reported $3.70 revenue$1,335,300,000

Net sales $455M, up 18% YoY; organic sales up 17%; GAAP operating margin 14.2% (+170 bps).
GAAP EPS $1.37 (+41%); adjusted EPS $1.39 (+32%); strong earnings growth.
Year-to-date operating cash flow $135M, free cash flow $120M, up 6% and 26% respectively.
Full-year 2021 organic sales growth outlook raised to 14%-17%; adjusted margin expansion expected as previously guided.
CEO cited record quarter despite supply chain disruptions; reaffirms strategic flexibility.

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