Plus   Neg

Pentair Q4 Cont. EPS Increases,Announces Resignation Plan For CFO Mark Borin

Sustainable water solutions provider Pentair plc (PNR) announced increase in fourth quarter earnings per share from continuing operations to $0.61 from $0.54 in the prior year. Adjusted earnings were $0.68 per share.

On average, 18 analysts polled by Thomson Reuters were looking for $0.65 per share. Analysts estimates usually exclude special items.

Net sales for the quarter climbed 2 percent to $755 million from the previous year. Excluding items core sales were down 1 percent in the fourth quarter. Wall Street expected $754.1 million.

Looking ahead, the company expects earnings of $2.36 to $2.41 and adjusted earnings in a range of $2.50 to $2.55 for the full year. The full year 2020 sales projection is approximately 1 to 3 percent on a reported basis and up approximately 2 to 4 percent on a core basis. Analysts are looking for 2.35 per share on sales of 2.96 billion.

On a continuing operations basis, guidance is $0.44 to $0.47 and on an adjusted basis
of $0.48 to $0.51. First quarter sales is expected to increase approximately 3 to 5 percent on a reported basis and up approximately 4 to 6 percent on a core basis from the prior year.

In a separate announcement, Pentair its EVP, CFO and Chief Accounting Officer Mark Borin's plan to resign, accepting an operational leadership opportunity at a private firm.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT