Watts Water: Q3 Earnings Snapshot
NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported third-quarter net income of $65.8 million.
On a per-share basis, the North Andover, Massachusetts-based company said it had profit of $1.96. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $2.04 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.83 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $504.3 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $503.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WTS at https://www.zacks.com/ap/WTS