Watts Q4 2020 Earnings Report
Key Takeaways
Watts Water Technologies reported a 1% increase in sales to $403 million, with a 2% decline in organic sales. GAAP EPS was $0.86, down 8%, while adjusted EPS was $1.15, up 15%. The company's performance was driven by better than anticipated sales in the Americas and Europe, along with continued cost action savings.
Reported sales increased 1% to $403 million; organic sales declined 2%.
GAAP and adjusted operating margin of 13.5% and 13.6%, respectively; up 170 bps on GAAP basis, up 110 bps on adjusted basis.
GAAP EPS of $0.86, down 8% vs. last year; adjusted EPS of $1.15, up 15%.
Full year 2020 operating cash flow of $229 million and full year free cash flow of $187 million, an 18% and 14% increase, respectively, over the prior year.
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Watts Revenue by Geographic Location
Forward Guidance
COVID-19 will continue to affect our business in 2021, but I am confident that our experienced team will again proactively manage the business to meet and exceed the expectations of our customers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income