Watts Water Technologies (NYSE: WTS) reported earnings on July 30. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Watts Water Technologies met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share grew. GAAP earnings per share grew.

Margins grew across the board.

Revenue details
 Watts Water Technologies tallied revenue of $371.3 million. The 10 analysts polled by S&P Capital IQ predicted revenue of $376.0 million on the same basis. GAAP reported sales were 0.1% higher than the prior-year quarter's $371.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 EPS came in at $0.57. The 11 earnings estimates compiled by S&P Capital IQ anticipated $0.55 per share. Non-GAAP EPS of $0.57 for Q2 were 7.5% higher than the prior-year quarter's $0.53 per share. GAAP EPS of $0.53 for Q2 were 3.9% higher than the prior-year quarter's $0.51 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
 For the quarter, gross margin was 36.0%, 50 basis points better than the prior-year quarter. Operating margin was 10.1%, 70 basis points better than the prior-year quarter. Net margin was 5.1%, 10 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $372.4 million. On the bottom line, the average EPS estimate is $0.65.

Next year's average estimate for revenue is $1.49 billion. The average EPS estimate is $2.38.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 343 members out of 360 rating the stock outperform, and 17 members rating it underperform. Among 100 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 95 give Watts Water Technologies a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Watts Water Technologies is hold, with an average price target of $46.00.

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