Every material Form 8-K Watts Water Technologies filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Watts Water Technologies reported third-quarter 2024 reported sales of $544 million, up 8%, but organic sales fell 4%, and adjusted EPS of $2.03 was slightly below $2.04 a year earlier. The company raised the midpoint of its full-year operating margin outlook and narrowed its sales guidance. Chief Financial Officer Shashank Patel plans to retire on March 15, 2025, and the company has started a search for a successor.
Reported sales were $543.6 million, up 8%; organic sales declined 4%, and acquisitions added $59 million in the Americas.
Reported diluted EPS was $2.06, up 5%; adjusted EPS was $2.03, compared with $2.04 a year earlier.
Full-year 2024 outlook: reported sales growth of 9% to 10%, organic sales down 1% to 2%, and reported operating margin of 17.2% to 17.4%, with the midpoint raised by 20 basis points.
CFO Shashank Patel will retire March 15, 2025, and remain CFO until a successor is named.
Watts Water Technologies reported second-quarter 2024 sales of $597 million, up 12% on a reported basis but flat organically, and reported EPS of $2.44, up 8%. The company kept its full-year 2024 outlook and extended its revolving credit facility to July 12, 2029.
Reported sales of $597.3 million rose 12% from $532.8 million a year earlier; organic sales were flat, and acquisitions added $65 million
Reported EPS was $2.44, up from $2.26; adjusted EPS was $2.46, up 5% from $2.34
Reported operating margin was 18.7%, down 10 basis points; Europe sales fell 16% and its operating margin fell 580 basis points
Full-year 2024 outlook maintained: reported sales growth of 7% to 12% and adjusted operating margin of 17.1% to 17.7%
Watts Water Technologies entered a Third Amended and Restated Credit Agreement on July 12, 2024, extending the maturity of its $800 million senior unsecured revolving credit facility from March 30, 2026 to July 12, 2029. The expansion option was amended to $400 million, while the benchmark spread and financial covenants were not changed. For shareholders, this is a routine refinancing that pushes out the company's main credit facility maturity by about three years.
Revolving credit facility maturity extended from March 30, 2026 to July 12, 2029
Expansion option amended to $400 million
Benchmark spread and financial covenants unchanged
Domestic subsidiaries guarantee obligations under the Third Amended and Restated Guaranty dated July 12, 2024
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Watts Water Technologies filing is on SEC EDGAR ↗. 8-K briefs of other companies →