Record Sales and Earnings
Watts Water Technologies reported record sales of $644 million, operating income, and earnings per share due to strong performance in the Americas region, with organic sales increasing by 6% in the quarter.
Favorable Price/Cost Dynamics
The company experienced a favorable price/cost dynamic, with adjusted operating margin of 21.6% due to price increases and effective cost management strategies.
Successful Acquisitions and Integrations
The acquisitions of I-CON and EasyWater contributed positively to sales, and integration efforts for Bradley, Josam, I-CON, and EasyWater are ahead of original synergy estimates.
Strong Performance in Data Center Segment
There was strong growth in the data center segment, which helped offset residential market softness.
Sustainability Progress
The company published its 2024 sustainability report, showing progress in reducing carbon emissions and advancing sustainability initiatives.
Increased Full Year Outlook
Due to strong first half performance, Watts increased their full year sales and margin outlook, expecting reported sales growth of up to 5%.