Watts Water sees FY24 revenue growth 9%-10%

The company said, “The Company is raising the midpoint of its full year operating margin outlook by 20 basis points and narrowing its full year sales guidance compared to our previous outlook. We expect reported sales to increase 9% to 10% and organic sales to decline between 1% and 2%. Full year operating margin is expected to be between 17.2% and 17.4% and adjusted operating margin to be between 17.5% and 17.7%, or down 10 basis points to 30 basis points.”