Watts Water Technologies (WTS) Tops Q2 EPS by 35c, Revenues Beat
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Watts Water Technologies Reports Second Quarter 2020 Results
August 3, 2020 4:05 PM EDTReported sales of $339 million, down 19% on both reported and organic basis GAAP operating margin of 9.2%, down 380 bps; adjusted operating margin of 11.1%, down 220 bps GAAP and adjusted EPS of $0.59 and $0.74, representing declines of 44% and 32%, respectively Recorded $6.7 million of restructuring, impairment and other charges Generated operating cash flow of $47 million and free cash flow of $25 million year-to-date, approximately 140% and 360% increase, respectively, over same period last year Acquired Australian Valve Group Pty Ltd (AVG) in an all-cash transaction on July 3, 2020
Note: Current quarter performance... More
