Watts Water reports record Q4 and full year 2022; sales up 6% Q4, EPS up 74%

WATTS WATER TECHNOLOGIES INC

2022-FY EPS reported $7.48 revenue$1,979,500,000

Q4 sales $501.9M, up 6% reported and 11% organically; full year sales $1.98B, up 9% reported and 13% organically.
Q4 GAAP EPS $2.05, up 74%; adjusted EPS $1.60, up 13%. Full year GAAP EPS $7.48, up 53%; adjusted EPS $7.13, up 29%.
Full year operating cash flow $224M; free cash flow $201M, up 24% and 26% respectively.
Q4 GAAP operating margin 13.4% (+20 bps); adjusted operating margin 14.3% (+90 bps). Full year 15.9% and 16.4% respectively.
Management expects softer market conditions as 2023 progresses; actions underway to adjust cost structure.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WATTS WATER TECHNOLOGIES INC reported fiscal quarter ended December 31, 2022 results: revenue $502 million, net income $68.6 million, EPS $1.60.

Period: fiscal quarter ended December 31, 2022
Revenue: $502 million
Net income: $68.6 million
EPS: $1.60
Result: reported results

Exact text from the filing

Q4 sales of $502 million, up 6% on a reported basis and 11% organically

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WATTS WATER TECHNOLOGIES INC reported full year 2022 results: revenue $1.98 billion, net income $251.5 million, EPS $7.48.

Period: full year 2022
Revenue: $1.98 billion
Net income: $251.5 million
EPS: $7.48
Result: reported results

Exact text from the filing

full year reported sales of $1.98 billion, up 9% on a reported basis and 13% organically

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Source: SEC EDGAR

accession 0001558370-23-001035

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