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Sep 24, 2023
Watts Q3 2023 Earnings Report
Achieved record sales, operating earnings, operating margin, and EPS, even compared to a strong Q3 2022.
Key Takeaways
Watts Water Technologies reported a 3% increase in sales to $504 million, with flat organic sales. EPS increased by 12% to $1.96, and adjusted EPS rose by 14% to $2.04. The company also increased its full-year 2023 operating margin outlook and completed the acquisition of Bradley Corporation.
Reported sales increased 3%; organic sales were flat versus prior year
Reported operating margin of 17.3%, up 80 bps; adjusted operating margin of 18.0%, up 120 bps
Reported EPS of $1.96, up 12%; adjusted EPS of $2.04, up 14%
Closed on the acquisition of Bradley Corporation on October 23, 2023
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is increasing its full-year 2023 operating margin outlook. Adjusted operating margin is now expected to range from 17.6% to 17.7%, raising the midpoint by over 60 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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