Watts Water Technologies Q2 Profit Increases, beats estimates

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

The company's earnings totaled $75.9 million, or $2.26 per share. This compares with $69.7 million, or $2.07 per share, in last year's second quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $78.4 million or $2.34 per share for the period.

Analysts on average had expected the company to earn $2.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.2% to $532.8 million from $526.6 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q2): $75.9 Mln. vs. $69.7 Mln. last year. -EPS (Q2): $2.26 vs. $2.07 last year. -Analyst Estimate: $2.04 -Revenue (Q2): $532.8 Mln vs. $526.6 Mln last year.