Watts Water Q2 sales $527M (+13% YoY); EPS $2.07 (+86%); raises FY2022 outlook

WATTS WATER TECHNOLOGIES INC

2022-Q2 EPS reported $3.68 revenue$989,800,000

Sales $526.6M (+13% YoY); organic sales +16% driven by strong Americas execution.
GAAP EPS $2.07 (+86%); adjusted EPS $2.11 (+43%); operating margin expanded 690 bps (GAAP) and 360 bps (adjusted).
Raised full-year 2022 outlook: organic revenue growth 8-11%, adjusted operating margin expansion 110-160 bps.
CEO cites record quarter despite inflation, Ukraine war, China lockdowns, and supply chain disruptions.
Business model driven by repair/replacement activity; confident navigating softening economy.

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