Exhibit 99.1




Timothy M. MacPhee



Treasurer, VP — Investor Relations




(978) 689-6201




(978) 794-0353




·                  Reported record 1Q sales of $379 million, up 9%


·                  Organic sales growth + 4%, foreign exchange + 5%


·                  Record 1Q operating margin of 11.6%; up 130 bps on GAAP basis, up 50 bps on an adjusted basis


·                  Record 1Q EPS of $0.82, up 30% on GAAP basis, up 26% on adjusted basis


North Andover, MA…May 3, 2018. 

Watts Water Technologies, Inc. (NYSE: WTS) today announced results for the first quarter of 2018.


“Strong top-line growth along with productivity initiatives, drove record first quarter sales, operating margin and EPS,” commented Chief Executive Officer Robert J. Pagano Jr.  “As anticipated, sales momentum from the second half of 2017 continued into the first quarter.  We strengthened our balance sheet by reducing net debt by $50 million as a result of cash repatriation.   Overall, the first quarter was in line with our expectations and puts us in a good position to achieve our 2018 outlook.”


Sales for the first quarter were $379 million, up 9% as compared to the same period last year.  First quarter net income per diluted share (EPS) on both a GAAP and adjusted basis was $0.82, as compared to $0.63 on a GAAP basis and $0.65 on an adjusted basis for the prior-year period.  EPS for the first quarter improved due to volume, productivity, a lower effective tax rate and favorable foreign exchange.   A summary of first quarter results is as follows:


The following information was filed by Watts Water Technologies Inc (WTS) on Thursday, May 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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