Watts Water Technologies (WTS) Tops Q1 EPS by 18c
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Watts Water Technologies Reports Solid First Quarter Results Driven by Strong Operating Performance
May 4, 2016 4:31 PM EDTSales totaled $344 million, down 3.4% year-over-year due to the 2015 exit of non-core product Organic sales up 6% driven by growth across all regions and additional shipping days Adjusted operating margin expanded 260 bps to 10.8% (GAAP margin of 9.1%) due to stronger volume, favorable product mix and productivity, including incremental restructuring savings Adjusted EPS of $0.57 and GAAP EPS of $0.47, up 27% and 42%, respectively Maintaining full year outlook
NORTH ANDOVER, Mass.--(BUSINESS WIRE)-- Watts Water Technologies,... More
