Watts Water: 4Q Earnings Snapshot
NORTH ANDOVER, Mass. (AP) _ Watts Water Technologies Inc. (WTS) on Monday reported fourth-quarter earnings of $31.8 million.
The North Andover, Massachusetts-based company said it had profit of 93 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, were $1 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The maker of valves for plumbing, heating and water needs posted revenue of $400.3 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $397.2 million.
For the year, the company reported profit of $131.5 million, or $3.85 per share. Revenue was reported as $1.6 billion.
Watts Water shares have increased roughly 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $101.45, a climb of 24% in the last 12 months.