secwatch.observer — SEC 8-K summary
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Issuer:     WATTS WATER TECHNOLOGIES INC (WTS)
CIK:        0000795403
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001558370-23-012943
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Watts Water Q2 record sales $533M, EPS $2.26; raises FY23 outlook; authorizes $150M buyback
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- Record Q2 sales $532.8M (+1% YoY); net income $75.9M, diluted EPS $2.26 (+9%).
- Adjusted EPS $2.34 (+11% YoY); adjusted operating margin 19.5% (+100 bps).
- Raised FY23 outlook: organic sales -2% to +2%, adj. op. margin 16.7%-17.3% (midpoint +100 bps).
- Board authorized additional $150M share repurchase program.
- Bylaws amended: mandatory expense advancement for directors/officers, exclusive forum, remote meeting rules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/795403/000155837023012943/0001558370-23-012943-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/795403/000155837023012943/wts-20230731x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-012943

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer