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Watts Water Technologies, Inc. reported record first quarter 2024 results with sales of $571 million, a 21% increase, and organic sales up 6%. Reported EPS was $2.17, a 12% increase, adjusted EPS of $2.33, up 21%. Operating margin was 16.9%, down 110 bps, adjusted margin was 18.2%, up 30 bps. Quarterly dividend payments increased by 19%. Full-year 2024 outlook raised with organic sales growth ranging from -4% to 1% and adjusted margin from 17.1% to 17.7%. Acquisitions integration progressing well with strong balance sheet and cash flow.
Watts Water Technologies, Inc. (NYSE: WTS) announced a quarterly dividend of $0.43 per share for both Class A and Class B Common Stock. The dividend will be paid on June 14, 2024, to stockholders of record on May 31, 2024. Watts Water Technologies is a global manufacturer offering plumbing, heating, and water quality solutions for commercial, residential, and industrial applications.
Watts Water Technologies, Inc. is celebrating its 150th anniversary with a bell ringing ceremony at the New York Stock Exchange. The CEO will ring the bell on May 6, 2024, to mark the occasion. Watts leaders, global team members, and customers will be in attendance to commemorate the company's legacy of innovation and customer satisfaction over the past 150 years.