Pentair expects fourth-quarter profit in line with estimates, raises full-year profit outlook above view

WASHINGTON (dpa-AFX) – Pentair Plc. (PNR), a water treatment company, on Tuesday released fourth-quarter earnings guidance in line with analyst estimates. Additionally, the company revised its full-year earnings outlook upwards above estimates.

John Stauch, CEO of Pentair, said: “We remain confident in our Transformation and 80/20 initiatives and expect them to continue to guide strategic decisions and operational efficiencies across our entire water portfolio. balance.

For the fourth quarter, Pentair expects net income per share of approximately $0.95, while adjusted earnings of approximately $1.02 per share, up approximately 17% from the same period of the previous year.

Sales are expected to be between $965 million and $975 million, down 1 to 2 percent year-over-year.

On average, 16 analysts polled by Thomson Reuters expect the company to earn $1.02 per share, on revenue of $989.24 million, for the quarter. Analyst estimates generally exclude special items.

For the full year, Pentair now expects net income per share of around $3.70, lower than the previous forecast of $3.81 per share.

Excluding items, the company expects earnings per share of about $4.27, compared with a previous forecast of $4.25 per share.

However, the company continues to expect its annual sales to remain roughly flat or even down 1%, or between $4.075 billion and $4.085 billion.

Analysts on average suggest the company will report EPS of $4.25, on revenue of $4.09 billion, for the year.

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