Watts Water: 2Q Earnings Snapshot
Aug. 01, 2018
NORTH ANDOVER, Mass. (AP) _ Watts Water Technologies Inc. (WTS) on Wednesday reported second-quarter net income of $36 million.
On a per-share basis, the North Andover, Massachusetts-based company said it had net income of $1.05.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $407.9 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $402.4 million.
Watts Water shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $84, a climb of 32 percent in the last 12 months.