Watts Water Technologies Q3 Profit Retreats 4%

(RTTNews) - Watts Water Technologies (WTS) released earnings for third quarter that lost ground compared to the same period last year.

The company said its bottom line came in at $23.6 million, or $0.67 per share. This was lower than $24.7 million, or $0.70 per share, in last year's third quarter.

Analysts had expected the company to earn $0.64 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 29.2% to $266.3 million. This was down from $376.0 million last year.

Watts Water Technologies earnings at a glance:

-Earnings (Q3): $23.6 Mln. vs. $24.7 Mln. last year. -Earnings Decline (Y-o-Y): -4.5% -EPS (Q3): $0.67 vs. $0.70 last year. -EPS Decline (Y-o-Y): -4.3% -Analysts Estimate: $0.64 -Revenue (Q3): $266.3 Mln vs. $376.0 Mln last year. -Revenue Change (Y-o-Y): -29.2%