earnings
confidence high
sentiment positive
materiality 0.80
Watts Water Q3 sales $504M (+3%); adjusted EPS $2.04 (+14%); raises FY margin outlook
WATTS WATER TECHNOLOGIES INC
2023-Q3 EPS reported
$6.15
revenue$1,508,800,000
- Sales $504.3M (+3% YoY); organic sales flat; reported operating margin 17.3% (+80bps).
- Adjusted EPS $2.04 (+14% YoY); reported EPS $1.96 (+12%).
- Year-to-date operating cash flow $201M, free cash flow $182M.
- Full-year 2023 adjusted operating margin outlook raised to 17.6%-17.7% (midpoint +60bps).
- Completed acquisition of Bradley Corporation on Oct 23, 2023; integration underway.