Watts Water Technologies (WTS) Tops Q4 EPS by 1c, Slight Beats on Revenues

Watts Water Technologies (NYSE: WTS) reported Q4 EPS of $0.74, $0.01 better than the analyst estimate of $0.73. Revenue for the quarter came in at $366.3 million versus the consensus estimate of $365.42 million.

• 4Q17 sales increased 7% to $366 million; organic growth of 3%
• 4Q17 GAAP operating margin up 100 bps to 10.2%; adjusted operating margin of 11.4%, up 50 bps; both records for the fourth quarter
• GAAP EPS for 4Q17 of $(0.07) includes estimated tax charge of $25.1 million1, or $(0.73) per share related to the Tax Cuts and Jobs Act of 2017 (the “Tax Act”)
• Record 4Q17 adjusted EPS up 16% to $0.74
• 2017 operating cash flow of $156 million and free cash flow of $127 million, a 13% and 24% increase, respectively, over the prior year

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

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