Watts Water Technologies Q3 Profit Increases, beats estimates

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

The company's bottom line came in at $65.8 million, or $1.96 per share. This compares with $58.7 million, or $1.75 per share, in last year's third quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $68.4 million or $2.04 per share for the period.

Analysts on average had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.4% to $504.3 million from $487.8 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q3): $65.8 Mln. vs. $58.7 Mln. last year. -EPS (Q3): $1.96 vs. $1.75 last year. -Analyst Estimate: $1.83 -Revenue (Q3): $504.3 Mln vs. $487.8 Mln last year.