Watts Water Technologies Q1 Profit Increases, Beats Estimates

(RTTNews) - Watts Water Technologies (WTS) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $74.0 million, or $2.21 per share. This compares with $72.6 million, or $2.17 per share, last year.

Excluding items, Watts Water Technologies reported adjusted earnings of $79.5 million or $2.37 per share for the period.

Analysts on average had expected the company to earn $2.13 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.3% to $558.0 million from $570.9 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings: $74.0 Mln. vs. $72.6 Mln. last year. -EPS: $2.21 vs. $2.17 last year. -Revenue: $558.0 Mln vs. $570.9 Mln last year.