Watts Water Technologies (WTS) Tops Q1 EPS by 2c, Slight Beat on Revenues

Watts Water Technologies (NYSE: WTS) reported Q1 EPS of $0.94, $0.02 better than the analyst estimate of $0.92. Revenue for the quarter came in at $388.7 million versus the consensus estimate of $388.49 million.

• Reported 1Q sales of $389 million, up 3%
• Organic sales growth +6%, foreign exchange -3%
• GAAP operating margin of 12%, up 40 bps; adjusted operating margin of 12.4%, up 80 bps
• 1Q GAAP and adjusted EPS of $0.91 and $0.94 respectively, up 11% on GAAP basis and up 15% on adjusted basis

Chief Executive Officer Robert J. Pagano Jr. commented, “Solid top-line growth drove record first quarter results. As anticipated, we continued to benefit from previously enacted pricing actions and organic volume in both the Americas and Europe. Our start puts us in a good position to realize the full year outlook we provided in February 2019.”

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

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