8-K
filed February 12, 2024, 6:59 PM ET
ticker WTS
CIK 0000795403
earnings
confidence high
sentiment positive
materiality 0.75
Watts Water reports record Q4: sales $548M, adj. EPS $1.97 up 23% YoY
WATTS WATER TECHNOLOGIES INC
2023-FY EPS reported
$7.82
revenue$2,056,300,000
- Q4 reported sales $548M (+9% reported, -1% organic); full-year sales $2.06B (+4% reported, +1% organic).
- Q4 adjusted operating margin 15.8%, up 150 bps; full-year adjusted operating margin 17.8%, up 140 bps.
- Q4 reported EPS $1.67 (-19%); adjusted EPS $1.97 (+23%); full-year adjusted EPS $8.27 (+16%).
- Operating cash flow $311M (+39%); free cash flow $281M (+40%) for full year 2023.
- Closed acquisitions of Bradley Corporation in Q4 and Josam Company effective Jan 1, 2024; management notes softening global outlook.
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 fiscal quarter ended December 31, 2023 results: revenue $548 million, EPS $1.67.
- Period
- fiscal quarter ended December 31, 2023
- Revenue
- $548 million
- EPS
- $1.67
- Result
- reported results
Exact text from the filing
investorrelations@wattswater.com WATTS WATER TECHNOLOGIES REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2023 RESULTS Fourth Quarter 2023 Highlights ◾ Reported sales of $548 million, up 9% on a reported basis and down 1% organically ◾ Reported operating margin of 14.4%, up 100 bps; adjusted operating margin of 15.8%, up 150 bps ◾ Reported EPS of $1.67,
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
WATTS WATER TECHNOLOGIES INC reported year ended December 31, 2023 results: revenue $2.06 billion, EPS $7.82.
- Period
- year ended December 31, 2023
- Revenue
- $2.06 billion
- EPS
- $7.82
- Result
- reported results
Exact text from the filing
up 100 bps; adjusted operating margin of 15.8%, up 150 bps ◾ Reported EPS of $1.67, down 19%; adjusted EPS of $1.97, up 23% Full Year 2023 Highlights ◾ Reported sales of $2.06 billion, up 4% on a reported basis and 1% organically ◾ Reported operating margin of 17.1%, up 120 bps; adjusted operating margin of 17.8%, up 140 bps ◾ Reported EPS of $7.82, up 5%;
View on SEC.gov
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