Watts Water: 2Q Earnings Snapshot
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.