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FOR IMMEDIATE RELEASE Contact : Timothy M. MacPhee Treasurer , VP – Investor Relations Telephone : Fax : ( 978 ) 689-6201 ( 978 ) 794-0353 Exhibit 99 WATTS WATER TECHNOLOGIES REPORTS RECORD SECOND QUARTER 2021 RESULTS Reported sales of $ 467 million , up 38 % ; up 32 % on an organic basis GAAP operating margin of 11.3 % , up 210 bps ; adjusted operating margin of 14.9 % , up 380 bps ■ GAAP EPS of $ 1.11 , up 88 % ; adjusted EPS of $ 1.48 , up 100 % Recorded $ 18 million of restructuring and other charges related to French facility exit Increasing adjusted full year 2021 outlook Note : Second quarter 2021 performance relative to second quarter in 2020 North Andover , Mass ... August 4 , 2021. Watts Water Technologies , Inc. ( NYSE : WTS ) today announced second quarter 2021 results . Chief Executive Officer Robert J. Pagano Jr. commented , " I want to recognize and thank the exemplary performance of the Watts team and especially our associates in supply chain and operations in navigating through the dual challenges of stronger than anticipated market demand as well as unique dynamics challenging the supply chains globally . Although much of this quarter's performance improvement is related to COVID - 19's impact last year , underlying market conditions , especially in repair and replacement , were stronger than we originally anticipated . Consequently , we delivered a record quarter , with both sales and adjusted operating margin higher than expected across all regions . As we guided , the February weather freeze in the South - Central U.S. continued to benefit us . After another stronger than expected quarter , which included recording restructuring and other charges associated with the successfully completed negotiations to exit one of our French operations , we are again raising our adjusted full year 2021 outlook . " A summary of second quarter results is as follows : ( In millions , except per share information ) Sales Net income Diluted net income per share Special items ( 1 ) Adjusted earnings per share ( 1 ) June 27 , 2021 Second Quarter Ended June 28 , 2020 % Change $ 467.0 $ 338.7 38 % 37.5 20.2 86 % $ 1.11 $ 0.59 88 % 0.37 0.15 1.48 $ 0.74 100 % ( 1 ) Special items and adjusted earnings per share represent non - GAAP financial measures . For a reconciliation of GAAP to non - GAAP items please see the tables attached to this press release .