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Jun 30, 2024
Watts Q2 2024 Earnings Report
Watts Water Technologies reported record sales, operating income, and EPS, driven by growth in the Americas and APMEA regions, offsetting weakness in Europe.
Key Takeaways
Watts Water Technologies reported a 12% increase in sales to $597 million, with flat organic sales growth. EPS increased by 8% to $2.44, and adjusted EPS rose by 5% to $2.46. The company is maintaining its full-year 2024 outlook.
Reported sales increased by 12%, reaching $597 million, however organic sales were flat.
Operating margin was 18.7%, a slight decrease of 10 bps, while adjusted operating margin was 18.8%, down 70 bps.
Reported EPS increased by 8% to $2.44, with adjusted EPS up 5% to $2.46.
The company amended and extended its existing credit facility, effective July 12, 2024, and is maintaining its full-year 2024 outlook.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is maintaining its previous full year outlook. We expect reported sales to increase +7% to +12% and organic sales to range from -4% to +1%. Full year adjusted operating margin is expected to be between 17.1% and 17.7%, or down 70 basis points to 10 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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