Watts Water Technologies (WTS) Tops Q2 EPS by 5c
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Watts Water Technologies Reports Record Second Quarter EPS Driven by Strong Operating Performance
August 4, 2016 5:11 PM EDTSales totaled $371 million, down 4.1% year-over-year due to the exit of undifferentiated products Organic sales were up 4% with growth across all regions GAAP and adjusted operating margin expanded by 330 bps and 100 bps, to 12.3% and 11.9%, respectively, due to stronger volume, favorable product mix and productivity, including sourcing and incremental restructuring savings Record GAAP EPS and adjusted EPS of $0.83 and $0.75, up 51% and 9%, respectively GAAP results include an after-tax gain of $8.3 million on sale of a China subsidiary; the gain is excluded from... More
