Watts Water: Q1 Earnings Snapshot

NORTH ANDOVER, Mass. (AP) _ Watts Water Technologies Inc. (WTS) on Tuesday reported first-quarter earnings of $41.7 million.

On a per-share basis, the North Andover, Massachusetts-based company said it had profit of $1.23. Earnings, adjusted for non-recurring costs, came to $1.24 per share.

The results beat Wall Street expectations. The average estimate of four 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 $413.3 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $388.4 million.

Watts Water shares have risen almost 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $126.05, a climb of 54% in the last 12 months.


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