Watts Q4 2023 Earnings Report
Key Takeaways
Watts Water Technologies reported record fourth-quarter and full-year results for 2023. Sales increased by 9% to $548 million, and adjusted EPS rose by 23% to $1.97. The company completed the acquisitions of Bradley Corporation and Josam Company, expanding its market presence. While monitoring weakening global economic indicators, Watts is taking actions to adjust its cost structure and remains confident in navigating the dynamic operating environment.
Sales increased by 9% to $548 million.
Adjusted EPS increased by 23% to $1.97.
Operating margin increased by 100 bps to 14.4%.
Completed the acquisitions of Bradley Corporation and Josam Company.
Watts
Watts
Watts Revenue by Geographic Location
Forward Guidance
As Watts enters 2024, the company is monitoring weakening global economic indicators. They are expecting softer market conditions as the year progresses and have incorporated these expectations into their outlook. They are taking actions as needed to adjust their cost structure and are confident that their experienced team is well-equipped to navigate the dynamic operating environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income