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Sep 26, 2021
Watts Q3 2021 Earnings Report
Reported record results driven by double digit growth in all regions.
Key Takeaways
Watts Water Technologies reported a record third quarter with sales of $455 million, up 18% and 17% on an organic basis. GAAP EPS was $1.37 and adjusted EPS was $1.39, representing increases of 41% and 32%, respectively. The company is increasing its full year 2021 sales outlook and maintaining its previous expectations for adjusted operating margin expansion.
Sales of $455 million increased 18% on a reported basis and 17% on an organic basis, driven by double digit growth in all regions.
GAAP operating margin of 14.2%, up 170 bps.
Adjusted operating margin of 14.4%, up 60 bps.
GAAP and adjusted EPS of $1.37 and $1.39, representing increases of 41% and 32%, respectively.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company has increased its full year 2021 organic sales growth outlook to be 14% to 17% and are maintaining our previous expectations for adjusted operating margin expansion.
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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