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Jun 27, 2021
Watts Q2 2021 Earnings Report
Record results were achieved, driven by global economic recovery and strong performance across all regions.
Key Takeaways
Watts Water Technologies reported a record second quarter in 2021, with sales of $467 million, up 38% compared to Q2 2020. GAAP EPS was $1.11, up 88%, and adjusted EPS was $1.48, up 100%. The company is raising its adjusted full year 2021 outlook due to accelerating demand.
Sales of $467 million, up 38% reported and 32% organically.
GAAP operating margin of 11.3%, up 210 bps; adjusted operating margin of 14.9%, up 380 bps.
GAAP EPS of $1.11, up 88%; adjusted EPS of $1.48, up 100%.
Increased adjusted full year 2021 outlook.
Watts
Watts
Watts Revenue by Segment
Watts Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAPMEA Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAPMEA Revenue
CapyFin.com Forward Guidance
The company is updating its adjusted full year 2021 outlook. We now expect consolidated organic revenue growth of 10% to 14% and consolidated adjusted operating margin expansion of 100 to 150 basis points, compared to last year.
Positive Outlook
- Consolidated organic revenue growth of 10% to 14%
- Consolidated adjusted operating margin expansion of 100 to 150 basis points
Challenges Ahead
- Monitoring nonresidential new construction activity
- Supply chain issues
- Inflation
- Vaccine implementations
- Impact of the virus variants
Revenue & Expenses
Visualization of income flow from segment revenue to net income