Watts Water Technologies, Inc. - WTS STOCK NEWS

Watts Water Technologies (NYSE: WTS) reported record second quarter 2024 results with sales of $597 million, a 12% increase. Key highlights include:

- Reported operating margin of 18.7%, down 10 bps
- Adjusted operating margin of 18.8%, down 70 bps
- Reported EPS of $2.44, up 8%; adjusted EPS of $2.46, up 5%
- Organic sales were flat, with growth in Americas and APMEA offsetting weakness in Europe
- Acquisitions contributed $65 million in sales
- Amended and extended credit facility through July 2029

The company maintains its full-year 2024 outlook, expecting reported sales to increase 7% to 12% and organic sales to range from -4% to +1%. Adjusted operating margin is projected between 17.1% and 17.7%.

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 September 13, 2024, to stockholders of record as of August 30, 2024. Watts Water Technologies is a global manufacturer headquartered in the USA, offering a wide range of plumbing, heating, and water quality products. The company provides innovative solutions for controlling water efficiency, safety, and quality across commercial, residential, and industrial applications.

Watts Water Technologies, Inc. (NYSE: WTS) has announced its upcoming Second Quarter 2024 earnings release and conference call. The company will release its financial results after market close on Wednesday, August 7, 2024. A live webcast of the conference call to discuss these results will be held on Thursday, August 8, 2024, at 9:00 a.m. Eastern Daylight 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 An archived version of the call will be available at the same address until August 7, 2025. Watts Water Technologies is a global manufacturer providing a wide range of plumbing, heating, and water quality products for commercial, residential, and industrial applications.

Watts Water Technologies (NYSE: WTS) has released its 2023 Sustainability Report, showcasing its commitment to environmental, social, and governance (ESG) practices. The report highlights several key achievements, including a new target to reduce absolute carbon emissions by 30% by 2034. Watts has also introduced measurable goals across four strategic pillars: Footprint, Handprint, Social Responsibility, and Corporate Governance. Over the past decade, the company has reduced global water usage by over 100 million liters, surpassing its initial goal by achieving a 62% reduction in water use intensity since 2018. In partnership with the Planet Water Foundation, Watts has provided clean water to over 70,000 people in nine countries. The company has received accolades such as America's Greenest Companies by Newsweek, America's Climate Leaders 2023 by USA Today, and America's Most Responsible Companies for the fifth consecutive year. Watts was also named among the Top Places to Work in Massachusetts in 2023 by The Boston Globe.

Watts Water Technologies (NYSE: WTS) has been named one of America's Climate Leaders by USA Today for the second consecutive year. This recognition comes as the company marks its 150th anniversary. Watts was selected from over 2,000 American companies with revenues exceeding $50 million in 2022, based on its significant reduction in Scope 1 and 2 greenhouse gas emissions relative to revenue between 2020 and 2022. CEO Robert J. Pagano, Jr. highlighted the efforts of stakeholders and employees in advancing the company's sustainability strategies. Watts' broad portfolio includes plumbing, heating, and water quality solutions for various applications. For more details, visit the company's sustainability report and official website.

Watts Water Technologies (NYSE: WTS) announced that key executives will attend the Stifel 2024 Cross Sector Insight Conference on June 4, 2024, at the InterContinental Hotel in Boston, MA. Representing Watts Water will be CEO Robert J. Pagano, Jr., CFO Shashank Patel, COO Andre Dhawan, and SVP Diane McClintock. Watts Water, a global manufacturer based in the USA, offers an extensive range of plumbing, heating, and water quality products for various applications. More details can be found on their official website.

Watts Water Technologies (NYSE: WTS) has announced participation in the KeyBanc Capital Markets’ 2024 Industrials & Basic Materials Conference. The event will take place on May 29, 2024, at 8:00 a.m. (Eastern Time) at the InterContinental Hotel in Boston, MA. Key attendees from Watts Water include CEO Robert J. Pagano, Jr., CFO Shashank Patel, and SVP FP&A and Investor Relations Diane McClintock. Watts Water, a global manufacturer, offers an extensive range of plumbing, heating, and water quality products for various applications. This participation aims to enhance investor relations and provide insights into the company's operations and growth strategies.

Watts Water Technologies (NYSE: WTS) announced that their CFO, Shashank Patel, and Senior VP, Diane McClintock, will present at the TD Cowen 2nd Annual Sustainability Virtual Conference on May 22, 2024, at 10:10 AM (ET). The company, headquartered in North Andover, MA, is a global manufacturer offering a wide range of plumbing, heating, and water quality products. They aim to enhance water efficiency, safety, and quality across various applications. Post-presentation, they will also engage in investor meetings.

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.