Pentair plc PNR, which delivers a comprehensive range of smart, sustainable water solutions to homes, business and industry around the world, reported third-quarter 2020 results, wherein adjusted earnings of 70 cents beat the Zacks Consensus Estimate of 52 cents.
Revenue: Pentair posted revenues of $799 million in the quarter, which beat the Zacks Consensus Estimate of $682 million.
Outlook: Pentair raised its adjusted earnings per share guidance to $2.35-$2.40 for 2020. The company expects revenues of $2.95 billion.
Estimates Revision: The Zacks Consensus Estimate for third quarter has gone up 4% over the past 30 days. In all 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 12.8%.
Pentair plc Price and EPS Surprise
Zacks Rank: Currently, Pentair carries a Zacks Rank #2 (Buy) 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 this Pentair earnings report later!
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Pentair plc (PNR): Free Stock Analysis Report
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