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WTSBearishEarningsnews
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Watts Water (WTS) Q1 Earnings Beat Estimates, Revenues Up Y/Y

May 9, 2024, 2:48 PM EDT1 sourcesAI-analyzed

AI summary

What happened, with direct paths to the underlying reporting

- WTS reported Q1 2024 EPS of $2.33, up 21% YoY, and net sales of $570.9 million. - Organic sales up 6% YoY, driven by higher revenue growth in APMEA and Americas. - For Q2 2024, WTS expects a decrease in organic sales and adjusted margins. - Cash from operating activities increased to $45.6 million in Q1 2024. - WTS has a Zacks Rank #2 (Buy) and expects organic sales to be down 4% to increase 1%. Price Impact Rating: bearish Impact Horizon Rating: short-term Type: Earnings

  • WTS reported Q1 2024 EPS of $2.33, up 21% YoY, and net sales of $570.9 million.
  • Organic sales up 6% YoY, driven by higher revenue growth in APMEA and Americas.
  • For Q2 2024, WTS expects a decrease in organic sales and adjusted margins.
  • Cash from operating activities increased to $45.6 million in Q1 2024.
  • WTS has a Zacks Rank #2 (Buy) and expects organic sales to be down 4% to increase 1%.

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