Watts Water Technologies, Inc. - WTS STOCK NEWS

Watts Water Technologies (NYSE: WTS) has announced the acquisition of I-CON Systems, a leading provider of plumbing control solutions primarily serving the corrections market. The acquisition, funded with cash on hand, brings I-CON's annualized sales of approximately $25 million under Watts' umbrella.

The strategic move aligns with Watts' growth strategy, enabling the company to expand its digital offerings and capitalize on growth opportunities in the correctional niche of the institutional market. The integration process is underway, with additional transaction details to be discussed during Watts' fourth quarter earnings call in February 2025.

Watts Water Technologies (NYSE: WTS) has been recognized as one of the Top Places to Work in Massachusetts by The Boston Globe for the second consecutive year. The recognition is based on employee surveys conducted by Energage, covering nearly 68,000 employees across 323 Massachusetts organizations. The survey evaluated various aspects including company direction, execution, management, work environment, compensation, and employee engagement.

Employees from Watts' Andover and North Andover locations participated in the survey. The company, a global manufacturer of plumbing, heating, and water quality products, attributes this recognition to its focus on providing meaningful employee experiences, career development opportunities, competitive benefits, and fostering an inclusive culture.

Watts Water Technologies (NYSE: WTS) has been named one of America's Most Responsible Companies 2025 by Newsweek magazine for the sixth consecutive year, earning the designation of 'All Time Champion.' The company ranked among the Top 600 most responsible companies from 2,000 of the largest U.S. firms across 14 industries.

The selection process involved analyzing key performance indicators from corporate social responsibility and sustainability reports, along with an independent survey of over 26,000 U.S. residents. CEO Robert J. Pagano, Jr. highlighted the company's 150-year legacy in water technologies and their commitment to reducing environmental impacts, supporting customers with innovations, and protecting communities through water stewardship efforts.

Watts Water Technologies (NYSE: WTS) has announced its participation in the upcoming NYSE Industrials Virtual Conference. The company will be represented by CEO & President Robert J. Pagano, Jr., CFO Shashank Patel, and SVP FP&A and Investor Relations Diane McClintock. The presentation is scheduled for Tuesday, November 19, 2024, at 10:00 AM Eastern Time.

Watts Water Technologies is a global manufacturer based in the USA, specializing in plumbing, heating, and water quality products. The company offers innovative solutions for controlling water efficiency, safety, and quality across commercial, residential, and industrial applications.

Watts Water Technologies (NYSE: WTS) announced that Chief Financial Officer Shashank Patel will retire on March 15, 2025, after serving since July 2018. Patel will remain in his position until a successor is appointed, with the company initiating a comprehensive search including both internal and external candidates. During Patel's tenure, the company achieved profitable growth, increased free cash flow, and executed a balanced capital deployment strategy. The transition plan aims to ensure continued value creation and smooth leadership succession.

Watts Water Technologies (NYSE: WTS) reported third quarter 2024 results with sales of $544 million, up 8% but down 4% organically. The company achieved reported EPS of $2.06, up 5%, while adjusted EPS was $2.03. Operating margin was 17.1%, down 20 basis points. Americas sales increased 14% to $400 million, Europe sales decreased 11% to $107 million, and APMEA sales grew 10% to $36 million. The company is raising its full-year 2024 operating margin outlook midpoint and expects reported sales growth of 9-10% with organic sales declining 1-2%. CFO Shashank Patel announced retirement effective March 15, 2025.

Watts Water Technologies (NYSE: WTS) has announced its participation in the 2024 Baird Global Industrial Conference. The company's leadership team, including CEO Robert J. Pagano, Jr., CFO Shashank Patel, COO Andre Dhawan, and SVP Diane McClintock, will present on Wednesday, November 13, 2024, at 8:30 AM Central Time at the Ritz-Carlton Chicago.

Watts Water Technologies is a global manufacturer of plumbing, heating, and water quality products, offering solutions for commercial, residential, and industrial applications.

Watts Water Technologies (NYSE: WTS) has declared a quarterly dividend of $0.43 per share on both its Class A and Class B Common Stock. The dividend will be paid on December 13, 2024, to stockholders of record as of November 29, 2024. The company is a global manufacturer based in the USA, specializing in plumbing, heating, and water quality products for commercial, residential, and industrial applications.

Watts Water Technologies, Inc. (NYSE: WTS) has announced its upcoming Third Quarter 2024 earnings release and conference call. The company will release its financial results after market close on Wednesday, October 30, 2024. A live webcast of the conference call to discuss these results will be held on Thursday, October 31, 2024, at 9:00 a.m. Eastern Standard Time.

Investors can access the webcast through the Investor Relations section of the company's website at www.watts.com. An archived version of the call will be available at the same address until October 30, 2025. Watts Water Technologies is a global manufacturer of plumbing, heating, and water quality products, offering innovative solutions for commercial, residential, and industrial applications.