Why Watts Water Technologies Stock Just Popped
Watts Water Technologies (NYSE: WTS) stock was up by 10.4% as of 11:45 a.m. ET Tuesday after the company delivered top- and bottom-line beats after the close of trading Monday.
Heading into its fourth-quarter report, analysts forecast the water systems equipment supplier would earn $1.91 per share, adjusted for one-time items, on sales of $537.1 million. In fact, it earned $2.05 per share on quarterly sales of $540 million.
Not all the news was good. Watts' sales slipped by 1% year over year, and were down by 5% before accounting for new revenues from the company's acquisition of I-CON Systems, which it closed last month.
Source Fool.com
