NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported first-quarter profit of $72.6 million.
The North Andover, Massachusetts-based company said it had profit of $2.17 per share. Earnings, adjusted for one-time gains and costs, were $2.33 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $570.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $551.6 million.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
