Filing Flows › Watts Water Technologies (WTS) › Q2 2026 › vs Q1 2026
Watts Water Technologies (WTS) Q2 2026 vs Q1 2026 (quarter over quarter)
Watts Water Technologies's revenue rose $85.9M (+13%) from $677M in Q1 2026 to $763M in Q2 2026. The biggest changes: Flow control and Protection +$52.5M (+13%); HVAC and Gas Products +$24.2M (+15%); Drainage and Water Re-use Products +$9.2M (+13%). Gross margin 49.0% against 48.1% (+0.9 pts).
Watts Water Technologies, Q2 2026: revenue $763M (+19% year over year), operating margin 20.2%, net earnings $118M, operating cash flow $103M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 49.0% | 48.1% | +0.9 pts |
| Operating margin | 20.2% | 19.6% | +0.5 pts |
| Net margin | 15.5% | 14.7% | +0.8 pts |
| Free cash flow margin | 12.0% | 1.0% | +11.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Flow control and Protection | $472M | $419M | $52.5M | +13% |
| HVAC and Gas Products | $181M | $157M | $24.2M | +15% |
| Drainage and Water Re-use Products | $78.8M | $69.6M | $9.2M | +13% |
| Water quality | $31.7M | $31.7M | $0 | 0% |
| Revenue | $763M | $677M | $85.9M | +13% |
| Gross profit | $374M | $326M | $48.0M | +15% |
| Cost of revenue | $389M | $351M | $37.9M | +11% |
| Operating profit | $154M | $133M | $21.0M | +16% |
| Operating expenses | $220M | $193M | $27.0M | +14% |
| Pre-tax earnings | $154M | $131M | $22.3M | +17% |
| Net earnings | $118M | $99.6M | $18.7M | +19% |
| Income tax | $35.4M | $31.8M | $3.6M | +11% |
| Depreciation & amortization | $15.8M | $15.4M | $400K | +3% |
| Share-based compensation | $8.3M | $5.2M | $3.1M | +60% |
| Working capital & other | $39.5M | $102M | −$62.8M | -61% |
| Operating cash flow | $103M | $17.9M | $85.0M | +475% |
| Free cash flow (OCF − capex) | $91.6M | $6.6M | $85.0M | 14× |
| Capital expenditures | $11.3M | $11.3M | $0 | 0% |
Questions
How much did Watts Water Technologies's revenue grow quarter over quarter in Q2 2026?
Watts Water Technologies's revenue rose $85.9M (+13%) from $677M in Q1 2026 to $763M in Q2 2026.
What drove Watts Water Technologies's revenue change in Q2 2026?
Flow control and Protection +$52.5M (+13%); HVAC and Gas Products +$24.2M (+15%); Drainage and Water Re-use Products +$9.2M (+13%).