Watts Water Technologies (WTS) Tops Q4 EPS by 1c, Revenues Beat; Announces $150M Share Buyback
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Watts Water Technologies Reports Strong Finish to Record Year and Announces $150 Million Share Repurchase Program
February 7, 2019 4:15 PM EST4Q18 sales increased 6% to $388 million; organic growth of 7% 4Q18 operating margin of 11.7%; up 150 bps on GAAP basis, up 30 bps on adjusted basis 4Q18 GAAP EPS of $0.85 increased $0.92 compared to prior year; results in 4Q17 include a tax charge of $0.73 per share related to the Tax Cuts and Jobs Act of 2017 (the Tax Act) 4Q18 adjusted EPS up 19% to $0.88 2018 operating cash flow of $169 million and free cash flow of $136 million, a 9% and 7% increase, respectively, over the prior year... More
