Brief: Watts Water Technologies Reports Q1 Adjusted Earnings Per Share $0.94

Watts Water Technologies

06/05/2020 22:56

May 6 (Reuters) - Watts Water Technologies Inc  WTS.N :
    * WATTS WATER TECHNOLOGIES REPORTS FIRST QUARTER 2020
RESULTS
    * Q1 SALES $383 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$372.9
MILLION
    * Q1 ADJUSTED EARNINGS PER SHARE $0.94
    * Q1 EARNINGS PER SHARE ESTIMATE $0.87 -- REFINITIV IBES
DATA
    * WITHDRAWING 2020 FULL YEAR OUTLOOK DUE TO COVID-19
UNCERTAINTY
    * HAVE INITIATED SEVERAL COST MANAGEMENT ACTIONS THAT ARE
ANTICIPATED TO REDUCE ONGOING COSTS
    * COST MANAGEMENT ACTIONS IMPLEMENTED INCLUDE HEADCOUNT
REDUCTIONS
    * IMPLEMENTED MERIT DEFERRALS, SALARY AND INCENTIVE
REDUCTIONS,
FURLOUGHS AND REDUCED DISCRETIONARY SPENDING
    * PLANNING TO TEMPORARILY SUSPEND OUR STOCK REPURCHASE
PROGRAM

Source text for Eikon:  ID:nBw3BNW50a 
Further company coverage:  WTS.N 

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