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Watts Water: 2Q Earnings Snapshot

July 31, 2019

NORTH ANDOVER, Mass. (AP) _ Watts Water Technologies Inc. (WTS) on Wednesday reported second-quarter earnings of $36.4 million.

On a per-share basis, the North Andover, Massachusetts-based company said it had net income of $1.06. Earnings, adjusted for restructuring costs, came to $1.09 per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The maker of valves for plumbing, heating and water needs posted revenue of $416.8 million in the period, matching Street forecasts.

Watts Water shares have climbed 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $92.85, a rise of 8.5% in the last 12 months.

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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

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