Watts Q2 2022 Earnings Report
Key Takeaways
Watts Water Technologies reported a record second quarter in 2022. Sales increased by 13% to $527 million, with organic sales up 16%. GAAP EPS was $2.07, up 86%, and adjusted EPS was $2.11, up 43%. Given the strong first half, the company is increasing its full-year 2022 outlook.
Reported sales of $527 million increased 13%; organic sales increased 16%
GAAP operating margin of 18.2%, up 690 bps; adjusted operating margin of 18.5%, up 360 bps
GAAP EPS of $2.07, up 86% and adjusted EPS of $2.11, up 43%
Increased adjusted full-year 2022 outlook
Watts
Watts
Watts Revenue by Geographic Location
Forward Guidance
The company now expects organic revenue growth of 8% to 11% and adjusted operating margin expansion of 110 to 160 basis points, compared to last year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income