NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported first-quarter earnings of $74 million.
The North Andover, Massachusetts-based company said it had net income of $2.21 per share. Earnings, adjusted for one-time gains and costs, were $2.37 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $558 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $540.7 million.
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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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