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Mar 26, 2023
Watts Q1 2023 Earnings Report
Reported record results driven by organic sales growth in all regions and record operating earnings.
Key Takeaways
Watts Water Technologies reported a record first quarter in 2023, with sales of $472 million, a 2% increase. Organic sales increased by 4%. The company reported EPS of $1.93, up 20%, and adjusted EPS of $1.92, up 18%.
Sales of $472 million increased 2%; organic sales increased 4%.
Operating margin of 18.0%, up 260 bps; adjusted operating margin of 17.9%, up 220 bps.
EPS of $1.93, up 20%; adjusted EPS of $1.92, up 18%.
Operating cash flow of $33 million and free cash flow of $28 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is increasing its full year 2023 adjusted operating margin outlook to a range of 15.7% to 16.3% and maintaining its full year 2023 organic sales growth outlook of negative 5% to positive 2%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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