logo
Plus   Neg
Share
Email

Watts Water Technologies Q2 Results Beat Street View

Watts Water Technologies, Inc. (WTS) Monday reported second-quarter net income of $20.2 million or $0.59 per share, down from $36.4 million or $1.06 per share last year.

Adjusted earnings for the quarter were $0.74 per share, down from $1.09 per share last year.

Revenues for the quarter dropped 19% to $338.7 million from $416.8 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.39 per share on revenues of $315.64 million.

Regarding second quarter results, CEO Robert Pagano noted, "Although the COVID-19 pandemic continued to negatively impact year-over-year comparisons, second quarter sales and adjusted operating margin were both better than we had anticipated, with order rate declines moderating as the quarter progressed and as government restrictions eased."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Consumers plan to spend less overall on gifts, holiday items, and non-gift purchases for themselves this holiday season, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics. The survey also found that one in five, or 19 percent of holiday shoppers who typically travel for the holidays, prefer to remain at home this year due to the coronavirus pandemic. Microsoft is in agreement with Alaska Airlines to enable flying more sustainably on three most popular routes traveled by Microsoft employees on Alaska Airlines, which uses sustainable aviation fuel (SAF). The SAF, supplied by SkyNRG, is an important option for the aviation industry to reduce carbon (CO2) emissions on a life-cycle basis. Walmart and Sam's Club announced options for customers to safely dispose unused, unwanted and expired medication throughout the year. With this, the retail giant aims to help the public from potential danger for misuse and abuse of prescription medications. On Saturday, October 24, the company will host in-person medication disposal events at select store and club locations across U.S.
RELATED NEWS
Follow RTT