NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported fourth-quarter earnings of $83.7 million.
The North Andover, Massachusetts-based company said it had profit of $2.50 per share. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to $2.62 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $625.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $611.3 million.
For the year, the company reported profit of $340.8 million, or $10.17 per share. Revenue was reported as $2.44 billion.
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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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