Watts Water Technologies Q2 Profit Increases, Beats Estimates

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

The company's bottom line totaled $82.0 million, or $2.44 per share. This compares with $75.9 million, or $2.26 per share, in last year's second quarter.

Excluding items, Watts Water Technologies reported adjusted earnings of $2.46 per share for the period.

Analysts on average had expected the company to earn $2.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.1% to $597.3 million from $532.8 million last year.

Watts Water Technologies earnings at a glance (GAAP) :

-Earnings (Q2): $82.0 Mln. vs. $75.9 Mln. last year. -EPS (Q2): $2.44 vs. $2.26 last year. -Revenue (Q2): $597.3 Mln vs. $532.8 Mln last year.