Pentair (PNR) Beats Q3 Earnings, Lags Revenue Estimates
Pentair plc PNR, a diversified industrial manufacturing company, reported third-quarter 2019 results, wherein adjusted earnings of 58 cents beat the Zacks Consensus Estimate of 55 cents.
Revenue: Pentair posted revenues of $714 million in the quarter, which missed the Zacks Consensus Estimate of $718 million.
Outlook: For 2019, Pentair reaffirms adjusted EPS guidance of $2.35. Sales in 2019 are forecast be flat on a reported basis and down roughly 1% on a core basis compared with 2018.
Pentair provided fourth-quarter 2019 adjusted earnings per share guidance of 64-66 cents. Sales in the quarter are projected to be up roughly 2% on a reported basis and flat on a core basis compared with the prior-year quarter.
Estimates Revision: The Zacks Consensus Estimate for third quarter has remained stable over the past 30 days. In three of the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average positive surprise of 2.52%.
Pentair plc Price and EPS Surprise
Zacks Rank: Currently, Pentair carries a Zacks Rank #4 (Sell) 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. Check back later for our full write up on Pentair earnings report!
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