Watts Water Technologies Q3 Profit Declines

(RTTNews) - Watts Water Technologies Inc. (WTS) reported that its third-quarter net income was $15.4 million, or $0.43 per share, compared to $18.7 million or $0.53 per share, last year.

Adjusted earnings per share were $0.58, down from $0.62 per share in the prior year quarter. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

Sales were $371.8 million, compared to $352.8 million last year, while ten analysts expected revenue of $370.21 million for the quarter.