Watts Water reports Q3 adjusted EPS $2.04, consensus $1.83

Reports Q3 revenue $504.3M, consensus $497.39M. Chief Executive Officer Robert Pagano Jr. commented, “I would like to thank the Watts team for delivering another quarter of outperformance. We achieved record third quarter sales, operating earnings, operating margin and EPS, even in comparison to a very strong third quarter in 2022. Given our performance through the third quarter and our fourth quarter expectations, we are increasing our full-year 2023 operating margin outlook. Adjusted operating margin is now expected to range from 17.6% to 17.7%, raising the midpoint by over 60 basis points.”