Record Third Quarter Sales
Sales reached $612 million, setting a third quarter record for Watts, reflecting a growth of 13% on a reported basis and 9% on an organic basis.
Strong Performance in Americas
Reported sales in the Americas were up 16% and organic sales were up 13%, driven by favorable price, volume, and approximately $11 million of pull-forward demand.
Successful Acquisition of Haws Corporation
Watts acquired Haws Corporation, expected to add approximately $60 million in annual sales, enhancing their value proposition with emergency, safety, and hydration solutions.
Increased Full Year Sales and Margin Outlook
Due to strong third quarter performance, Watts increased their full year sales and margin outlook, with expectations for organic sales growth of 4% to 5% and reported sales growth of 7% to 8%.
Improved Margins Across All Segments
Adjusted EBITDA margin increased by 140 basis points to 20.9%, with margin improvements in Americas (23.7%), Europe (12.2%), and APMEA (19.4%).