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Jun 25, 2023
Watts Q2 2023 Earnings Report
Reported record results exceeding expectations, driven by the continued operational excellence.
Key Takeaways
Watts Water Technologies reported a 1% increase in sales to $533 million, with organic sales flat. EPS increased by 9% to $2.26, and adjusted EPS increased by 11% to $2.34. The company is increasing its full-year 2023 outlook.
Sales of $533 million increased 1%; organic sales were flat
Reported operating margin of 18.8%, up 60 bps; adjusted operating margin of 19.5%, up 100 bps
Reported EPS of $2.26, up 9%; adjusted EPS of $2.34, up 11%
Delivered strong year-to-date operating cash flow of $101 million and free cash flow of $89 million
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is increasing its full-year 2023 outlook. Organic revenue growth is now expected to range from negative 2% to positive 2%, raising the midpoint by 2%. Adjusted operating margin is now expected to range from 16.7% to 17.3%, raising the midpoint by 100 basis points.
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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