NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported second-quarter net income of $118.3 million.
The North Andover, Massachusetts-based company said it had profit of $3.53 per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were $3.66 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.34 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $763.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $725.8 million.
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