NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Monday reported fourth-quarter profit of $67.5 million.
The North Andover, Massachusetts-based company said it had profit of $2.02 per share. Earnings, adjusted for one-time gains and costs, came to $2.05 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $540.4 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $537.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WTS at https://www.zacks.com/ap/WTS
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