secwatch.observer — SEC 8-K summary
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Issuer:     WATTS WATER TECHNOLOGIES INC (WTS)
CIK:        0000795403
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001558370-24-007370
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Watts Water Q1 record sales $571M, EPS $2.17; raises FY2024 outlook
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- Record Q1 sales of $570.9M (+21% reported, +6% organic); reported EPS $2.17 (+12%), adjusted EPS $2.33 (+21%).
- Adjusted operating margin 18.2%, up 30 bps; reported operating margin 16.9%, down 110 bps.
- Announced 19% increase in quarterly dividend payments.
- Raising FY2024 outlook: organic sales growth -4% to +1% (midpoint +50 bps); adj op margin 17.1%-17.7% (midpoint +20 bps).
- Acquisitions of Bradley, Josam, Enware integrating well; strong cash flow supports strategic investments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/795403/000155837024007370/0001558370-24-007370-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/795403/000155837024007370/wts-20240508x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-007370

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