Watts Water Technologies (WTS) Tops Q2 EPS by 1c

Watts Water Technologies (NYSE: WTS) reported Q2 EPS of $0.69, $0.01 better than the analyst estimate of $0.68. Revenue for the quarter came in at $369 million versus the consensus estimate of $385.52 million.

Robert J. Pagano Jr., Chief Executive Officer, commented, “We were pleased with our sales efforts in all regions during the second quarter. The Americas was able to rebound from first quarter weather-related issues, EMEA increased sales in a still uncertain pan European market, and Asia-Pacific returned to double digit growth. Our order rates in the Americas and Asia-Pacific increased over Q1 levels, while EMEA order rates softened slightly during the quarter. Adjusted operating margins were flat with the second quarter of 2013, with margin expansion hindered in the Americas due to production disruptions in our foundry and more favorable absorption in the prior year. We did see strong margin expansion in EMEA, being driven by the ongoing restructuring and transformation projects, and from top line growth.”

For earnings history and earnings-related data on Watts Water Technologies (WTS) click here.

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