Watts Water Technologies Q1 Profit Increases, beats estimates

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

The company's earnings totaled $64.7 million, or $1.93 per share. This compares with $54.5 million, or $1.61 per share, in last year's first quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $64.5 million or $1.92 per share for the period.

Analysts on average had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.8% to $471.7 million from $463.2 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q1): $64.7 Mln. vs. $54.5 Mln. last year. -EPS (Q1): $1.93 vs. $1.61 last year. -Analyst Estimate: $1.64 -Revenue (Q1): $471.7 Mln vs. $463.2 Mln last year.