Watts Water Technologies (WTS) Tops Q3 EPS by 18c, Revenues Beat
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Watts Water Technologies Reports Third Quarter 2020 Results
November 4, 2020 4:05 PM ESTReported sales of $384 million, down 3% on reported basis; down 5% on organic basis GAAP operating margin of 12.5%, up 10 bps; adjusted operating margin of 13.8%, up 50 bps GAAP and adjusted EPS of $0.97 and $1.05, representing increases of 3% and 1%, respectively Recorded $3.4 million of restructuring and other related costs Generated operating cash flow of $127 million and free cash flow of $95 million year-to-date, approximately 34% and 25% increase, respectively, over same period last year
Note: Current quarter performance relative to comparable third quarter in 2019
NORTH ANDOVER, Mass.--(BUSINESS WIRE)-- Watts... More
