Pentair Updates Guidance - Quick Facts

Pentair plc (PNR) updated its estimated 2018 GAAP EPS from continuing operations to a range of $1.75 to $1.80 and on an adjusted EPS basis to a range of $2.25 to $2.30. The company updated sales guidance to $2.96 billion, up 3 to 4 percent on a reported and core basis over 2017. The company is targeting to deliver full year free cash flow of approximately 100 percent of adjusted net income.

For the second quarter 2018, the company expects GAAP EPS from continuing operations of $0.44 to $0.46 and, on an adjusted EPS basis, of $0.67 to $0.69. The company expects second quarter sales to be approximately $0.79 billion, up 4 to 5 percent on a reported basis and up 3 to 4 percent on a core basis compared to second quarter 2017.

The company expects to complete the previously announced tax-free spin-off of its Electrical business to its shareholders on April 30, 2018. The company noted that the full year and second quarter 2018 outlook reflects the anticipated separation of the Electrical business and the reporting of Electrical's results as discontinued operations. nVent Electric plc provided 2018 GAAP EPS guidance at a range of $1.38 to $1.48 and on an adjusted basis at a range of $1.70 to $1.80.

Pentair plc reported first-quarter earnings per share from continuing operations of $0.58 compared to $0.44 in the first quarter of 2017. On an adjusted basis, the company reported EPS of $0.88 compared to $0.65 in the first quarter of 2017. First-quarter sales of $1.3 billion, up 7 percent compared to sales for the same period last year. Excluding currency translation and acquisitions, core sales grew 4 percent in the first quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Mallinckrodt plc announced Wednesday that the U.S. Food and Drug Administration or FDA has approved StrataGraft (allogeneic cultured keratinocytes and dermal fibroblasts in murine collagen - dsat) for the treatment of adult patients with thermal burns containing intact dermal elements for which surgical intervention is clinically indicated. Worldwide 5G mobile subscriptions are estimated to exceed 580 million by the end of 2021, according to the Ericsson Mobility Report. With subscriptions increasing at a rate of about a million per day, 5G remains on track to become the fastest adopted mobile generation in history. The growth in subscriptions is being lead by China, North America and the Gulf Cooperation Council markets. Elanco Animal Health Inc. (ELAN) and veterinary biopharmaceutical company Kindred Biosciences, Inc. (KIN) announced Wednesday they have entered into a definitive agreement for Elanco to acquire Kindred for $9.25 per share, or approximately $440 million. The acquisition further accelerates Elanco's...
Follow RTT