Watts Water Technologies Q3 Profit Increases, Beats Estimates

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

The company's bottom line totaled $69.1 million, or $2.06 per share. This compares with $65.8 million, or $1.96 per share, in last year's third quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $68.1 million or $2.03 per share for the period.

Analysts on average had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.8% to $543.6 million from $504.3 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q3): $69.1 Mln. vs. $65.8 Mln. last year. -EPS (Q3): $2.06 vs. $1.96 last year. -Revenue (Q3): $543.6 Mln vs. $504.3 Mln last year.