NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported first-quarter net income of $99.6 million.
On a per-share basis, the North Andover, Massachusetts-based company said it had profit of $2.97. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $3.04 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.72 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $677.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $632.1 million.
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