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NORTH ANDOVER, Mass. (AP) — NORTH ANDOVER, Mass. (AP) — Watts Water Technologies Inc. (WTS) on Wednesday reported first-quarter net income of $64.7 million.
The North Andover, Massachusetts-based company said it had net income of $1.93 per share. Earnings, adjusted for restructuring gains, came to $1.92 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The maker of valves for plumbing, heating and water needs posted revenue of $471.7 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $474.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a WTS">Zacks stock report on WTS at https://www.zacks.com/ap/WTS