Pentair Plc Q2 Profit Increases, Beats Estimates - Update

(Adds Revised Outlook)

Pentair plc (PNR) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $152.9 million, or $0.92 per share. This compares with $132.1 million, or $0.79 per share, in last year's second quarter.

Excluding items, Pentair plc reported adjusted earnings of $169.0 million or $1.02 per share for the period.

Analysts on average had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.8% to $1.06 billion from $0.94 billion last year.


For the full year, the company now expects adjusted EPS to be in the range of $3.70 to $3.75 compared with prior outlook of $3.70 to $3.80.

Sales for the year are expected to grow 8%-10% , lower than the previous outlook of 9%-11% growth.

Analysts expect the company to report earnings of $3.71 per share on revenue growth of 9.5% for the year.

For the third quarter, adjusted EPS is expected to be in the range of $0.93 to $0.95 and sales to grow 3%-5%. Analysts expect the company to report earnings of $0.95 per share.

Pentair plc earnings at a glance (GAAP) :

-Earnings (Q2): $152.9 Mln. vs. $132.1 Mln. last year.
-EPS (Q2): $0.92 vs. $0.79 last year.
-Analyst Estimate: $1.00
-Revenue (Q2): $1.06 Bln vs. $0.94 Bln last year.

Next quarter EPS guidance: $0.93 to $0.95
Full year EPS guidance: $3.70 to $3.75

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