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Sep 29, 2024
Watts Q3 2024 Earnings Report
Watts' Q3 2024 performance saw sales increase by 8%, but organic sales decreased by 4%.
Key Takeaways
Watts Water Technologies reported an 8% increase in sales to $544 million, although organic sales declined by 4%. The company is raising the midpoint of its full-year 2024 operating margin outlook. EPS increased to $2.06, up 5% from the prior year.
Reported sales increased 8% to $544 million; organic sales were down 4%.
Operating margin was 17.1%, a decrease of 20 bps; adjusted operating margin was also 17.1%, down 90 bps.
Reported EPS rose 5% to $2.06; adjusted EPS was $2.03, compared to $2.04 in the previous year.
The midpoint of the full-year 2024 operating margin outlook is being raised.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is raising the midpoint of its full year operating margin outlook by 20 basis points and narrowing its full year sales guidance compared to our previous outlook. We expect reported sales to increase 9% to 10% and organic sales to decline between 1% and 2%. Full year operating margin is expected to be between 17.2% and 17.4% and adjusted operating margin to be between 17.5% and 17.7%, or down 10 basis points to 30 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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