Watts Water Technologies (WTS) Tops Q2 EPS by 4c, Revenues Beat; 'Raising FY18 Organic Sales Growth Outlook'

Watts Water Technologies (NYSE: WTS) reported Q2 EPS of $1.05, $0.04 better than the analyst estimate of $1.01. Revenue for the quarter came in at $408 million versus the consensus estimate of $403.42 million.

• Reported record sales of $408 million, up 8%
• Organic sales growth +5%, foreign exchange +3%
• 2Q operating margin of 12.8%; up 100 bps on GAAP basis, up 30 bps on adjusted basis
• Record EPS of $1.05, up 33% on GAAP basis, up 27% on adjusted basis
• Raising full year 2018 organic sales growth outlook

Commenting on operating results, Chief Executive Officer Robert J. Pagano Jr., said, “We continued to drive strong top-line growth and productivity during the quarter, especially in the Americas. This enabled us to deliver record sales, adjusted operating margin and EPS. For the first half of 2018, we delivered 5% organic growth, double digit earnings growth and strong operating margin. We are raising our full year organic sales growth outlook given results to date and our prospects for the second half of 2018.”

For earnings history and earnings-related data on Watts Water Technologies (WTS) click here.

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