Watts Water Technologies Reports Second Quarter 2020 Results
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Watts Water Technologies (WTS) Tops Q2 EPS by 35c, Revenues Beat
August 3, 2020 4:11 PM EDTWatts Water Technologies (NYSE: WTS) reported Q2 EPS of $0.74, $0.35 better than the analyst estimate of $0.39. Revenue for the quarter came in at $339 million versus the consensus estimate of $315.64 million.
Reported sales of $339 million, down 19% on both reported and organic basisGAAP operating margin of 9.2%, down 380 bps; adjusted operating margin of 11.1%, down 220 bpsGAAP and adjusted EPS of $0.59 and $0.74, representing declines of 44% and 32%, respectivelyRecorded $6.7 million of... More