Wedbush Raises Watts Water Technologies' (WTS) Price Target on Better Than Expected 4Q Results
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Watts Water Technologies Reports Fourth Quarter and Full Year Results for 2015
February 16, 2016 5:16 PM EST4Q15 sales totaled $358 million, down 5% with 4% organic growth 4Q15 adjusted operating margin expanded 60 bps to 9.9%; GAAP margin of (32.8%) 4Q15 adjusted EPS was $0.59, up $0.01; GAAP EPS of ($3.41) 2015 adjusted free cash flow was $131 million, up 17% year-over-year Recorded non-cash goodwill impairment of $130 million and initiated additional restructuring, both items associated with the EMEA business Announced settlement-in-principle of class actions involving legacy products Successfully completed the previously announced Apex acquisition; strengthens presence in... More
