Watts Water reports record Q1; adjusted EPS $1.92 (+18% YoY); raised margin guidance

WATTS WATER TECHNOLOGIES INC

2023-Q1 EPS reported $1.93 revenue$471,700,000

Record Q1 sales $471.7M, up 2% reported / 4% organic; EPS $1.93 up 20%, adjusted EPS $1.92 up 18%.
Record operating margin 18.0% (up 260bps); adjusted operating margin 17.9% (up 220bps).
Raised FY2023 adjusted operating margin outlook to 15.7-16.3% from 15.4-16.0%; maintained organic sales guidance of -5% to +2%.
Acquired Enware Australia (specialty plumbing/safety) for ~$30M annual revenue; closed March 31, 2023.
Operating cash flow $33M, free cash flow $28M in Q1, significant YoY increase.

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 0.9

WATTS WATER TECHNOLOGIES INC reported the fiscal quarter ended March 26, 2023 results: revenue $471.7 million, net income $64.7 million, EPS $1.93. Guidance raised.

Period: the fiscal quarter ended March 26, 2023
Revenue: $471.7 million
Net income: $64.7 million
EPS: $1.93
Guidance: raised
Result: reported results

Exact text from the filing

SVP FP&A & Investor Relations email: investorrelations@wattswater.com WATTS WATER TECHNOLOGIES REPORTS RECORD FIRST QUARTER 2023 RESULTS ◾ Reported sales of $472 million increased 2%; organic sales increased 4% ◾ Reported operating margin of 18.0%, up 260 bps; adjusted operating margin of 17.9%, up 220 bps ◾ Reported EPS of $1.93, up 20%;

View on SEC.gov

Browse all earnings releases →

WATTS WATER TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0001558370-23-007865

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.