UPDATE: Watts Water Technologies (WTS) Tops Q3 EPS by 2c (correction)
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(Updated - November 2, 2016 4:54 PM EDT)
(update corrects EPS amount)
Watts Water Technologies (NYSE: WTS) reported Q3 EPS of $0.71, 2 cents than the analyst estimate of $0.69. Revenue for the quarter came in at $341 million versus the consensus estimate of $352.64 million.
Remarking on operating results, Chief Executive Officer, Robert J. Pagano Jr., said, “We delivered another strong quarter of EPS growth and operating margin expansion despite some top-line headwinds. Margins continued to benefit from our transformation and productivity initiatives. We had a strong quarter in cash flow generation, and we expect that trend to continue through the fourth quarter.”
Commenting on the acquisition of PVI Industries, LLC, Mr. Pagano noted, “We are excited about adding PVI to our portfolio. PVI is a market leader in high capacity commercial water heaters and complements AERCO’s position in high efficiency boilers. Like AERCO, PVI is focused on differentiated product design for project specific customer applications.”
For earnings history and earnings-related data on Watts Water Technologies (WTS) click here.
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