Pentair PlcPNR , a diversified industrial manufacturing company, reported second-quarter 2018 results, wherein adjusted earnings of 71 cents beat the Zacks Consensus Estimate of 69 cents.
Revenue: Pentair posted revenues of $781 million in the second quarter, which fell short of the Zacks Consensus Estimate of $788 million.
Outlook: Pentair revised its full-year 2018 adjusted earnings per share guidance to $2.31 and sales outlook to $2.95 billion. Sales is expected to be up 3-4% on a reported and core basis respectively over 2017.
Pentair initiated third-quarter 2018 adjusted earnings per share guidance of 52 cents. Sales is expected to be around $700 million, up 1-2% on a reported basis and up 4-5% on a core basis compared to third-quarter 2017. Both the guidance reflects the separation of its Electrical business, on Apr 30, 2018 and the reporting of Electrical's results as discontinued operations.
Pentair plc Price and EPS Surprise
Earnings Estimates Revision: The Zacks Consensus Estimate for second quarter has been stable over the past 30 days. In the trailing four quarters, excluding quarter under review, the company's earnings have surpassed the Zacks Consensus Estimate by an average of 1.78%.
Zacks Rank: Currently, Pentair carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Market Reaction: Pentair's shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Pentair earnings report!
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