Wedbush Raises Watts Water Technologies' (WTS) Price Target on Better Than Expected 4Q Results

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Go back to Wedbush Raises Watts Water Technologies' (WTS) Price Target on Better Than Expected 4Q Results

Watts Water Technologies Reports Fourth Quarter and Full Year Results for 2015

February 16, 2016 5:16 PM EST

4Q15 sales totaled $358 million, down 5% with 4% organic growth 4Q15 adjusted operating margin expanded 60 bps to 9.9%; GAAP margin of (32.8%) 4Q15 adjusted EPS was $0.59, up $0.01; GAAP EPS of ($3.41) 2015 adjusted free cash flow was $131 million, up 17% year-over-year Recorded non-cash goodwill impairment of $130 million and initiated additional restructuring, both items associated with the EMEA business Announced settlement-in-principle of class actions involving legacy products Successfully completed the previously announced Apex acquisition; strengthens presence in... More