Watts Water Technologies, Inc. - WTS STOCK NEWS

Watts Water Technologies (WTS) reported Q3 2022 sales of $488 million, a 7% increase year-over-year, and a 12% rise in organic sales. GAAP operating margin improved to 16.5%, up 230 bps, while GAAP EPS reached $1.75, up 28%. The CEO highlighted a strong performance, particularly in the Americas, prompting an increase in the full-year outlook for organic revenue growth to 11%-12%. However, cash flow decreased to $86 million from $135 million in the prior year due to increased inventory costs. The company remains watchful of global economic conditions.

Watts Water Technologies, Inc. (NYSE: WTS) announced a quarterly dividend of $0.30 per share, payable on December 15, 2022, to stockholders of record on December 1, 2022. As a global manufacturer, Watts Water offers one of the most extensive plumbing, heating, and water quality product lines worldwide, catering to commercial, residential, and industrial markets. This dividend underscores the company’s commitment to returning value to shareholders while maintaining robust operations in the plumbing and heating solutions sector.

Watts Water Technologies, Inc. (NYSE: WTS) will present at the 2022 Baird Global Industrial Conference on November 9, 2022, at 7:55 AM Central Time. The presentation will feature CEO Robert J. Pagano, CFO Shashank Patel, and SVP Diane McClintock. The event will take place at the Ritz-Carlton Chicago, located at Water Tower Place, 160 East Pearson Street, Chicago, Illinois. Watts Water, a global manufacturer based in the USA, specializes in plumbing, heating, and water quality solutions for various applications.

Watts Water Technologies, Inc. (NYSE: WTS) will hold a live webcast on November 3, 2022, at 9:00 a.m. EDT, to discuss its Third Quarter 2022 financial results. The results will be released after market close on November 2, 2022. Investors can access the webcast via the Investor Relations section of the company’s website. An archived version will be available until November 3, 2023.

Watts Water Technologies has achieved verification under The Water Council's WAVE: Water Stewardship Verified program. This accomplishment reflects the company's commitment to assessing and managing water-related risks and impacts. Key actions taken include prioritizing high-risk sites, improving water metering, and enhancing community engagement. The CEO, Robert J. Pagano, emphasized the importance of understanding water as a shared resource and the need for broader impacts beyond their operational footprint. This update aligns with Watts' goal of advancing water stewardship globally.

Watts Water Technologies, Inc. (NYSE: WTS) announced participation in the Seaport Research Partners Annual Summer Investor Virtual Conference on August 23, 2022, at 8:00 a.m. EDT. Leaders Robert J. Pagano Jr. (CEO & President) and Diane McClintock (SVP FP&A and Investor Relations) will represent the company. Watts Water is a global manufacturer based in the USA, providing a wide range of plumbing, heating, and water quality products for various applications. Discover more at www.wattswater.com.

Watts Water Technologies reported Q2 2022 sales of $527 million, a 13% increase from the previous year, with organic sales rising 16%. The GAAP operating margin improved to 18.2%, up 690 bps, while GAAP EPS reached $2.07, marking an 86% increase. CEO Robert J. Pagano Jr. noted strong performance in the Americas, prompting an increased full-year outlook for organic revenue growth of 8% to 11%. Despite challenges like inflation and supply chain issues, operational metrics remain strong, reflecting the company's confidence in its business model.

Watts Water Technologies, Inc. (NYSE: WTS) has declared a quarterly dividend of $0.30 per share for both Class A and Class B Common Stocks. The dividend will be paid on September 15, 2022, to stockholders of record as of September 1, 2022. This reflects the company's commitment to delivering value to its shareholders, affirming its financial stability and operational success in the plumbing, heating, and water quality sectors, where it is recognized as a global leader.

Watts Water Technologies (NYSE: WTS) announced the appointment of Andre Dhawan as Chief Operating Officer, effective August 15, 2022. Dhawan transitions from Gilbarco Veeder-Root, where he served as President of the Americas. He replaces Munish Nanda, who is retiring after years of leadership. CEO Robert Pagano expressed confidence in Dhawan's ability to drive growth and operational excellence, noting his experience in successful product launches and market expansions. This leadership change aims to enhance the company's strategic direction and performance.