Watts Water Technologies (WTS) has reported a decline in its profit for the fourth quarter of the past year compared to the corresponding quarter in the previous year. Nevertheless, it surpassed market expectations. The company recorded earnings of $55.8 million, translating to $1.67 per share. This is in contrast to $68.9 million, or $2.05 per share, that was reported in the last year's fourth quarter.
When certain items are omitted, the company's adjusted earnings stand at $66.1 million, equivalent to $1.97 per share for the period being analyzed.
Market analysts had expected the company's earnings to average at $1.78 per share. These projections are based on figures provided by Thomson Reuters and often ignore unique items.
The company's revenue for the quarter under review marked a 9.1% progression to $547.5 million, rising from $501.9 million reported during the same period last year.
A brief overview of Watts Water Technologies' earnings (GAAP) reveals the following: The earnings for Q4 amount to $55.8 million, which is less compared to $68.9 million in the previous year. The earnings per share (EPS) for Q4 came in at $1.67, lesser than the $2.05 recorded the previous year. The average estimate from analysts was at $1.78. The revenue for Q4 was at $547.5 million, an increase from $501.9 million in the previous year.
