Record Sales and Earnings
Watts achieved record sales of $644 million, up 8% on a reported basis and 6% on an organic basis, with notable growth in the Americas segment.
Strong Operating Margin Performance
Adjusted operating margin reached 21.6%, a record for the company, driven by favorable price/cost dynamics, volume leverage, productivity, and cost containment.
Successful Acquisitions and Integrations
The integrations of Bradley, Josam, I-CON, and EasyWater are progressing ahead of schedule, contributing to an increase in sales and synergy realization beyond original estimates.
Increased Full Year Outlook
Based on strong first-half performance, Watts increased its full-year sales and margin outlook, expecting organic sales growth of flat to up 3%, and reported sales growth up 2% to 5%.
Sustainability Initiatives
Watts published its 2024 sustainability report, emphasizing progress in carbon emissions reduction and advancing its sustainability mission.