Pentair Backs FY19 Earnings Guidance - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, Pentair plc (PNR) maintained its earnings and adjusted earnings guidance for the full-year 2019, while trimming sales growth guidance. The company also initiated fourth-quarter outlook.

For fiscal 2019, the company continues to project earnings of about $2.09 per share and adjusted earnings of about $2.35 per share. The company now expects sales to be about flat on a reported basis and down about 1 percent on a core basis from last year.

Previously, the company expected annual sales to be flat to up about 1 on a reported basis and about flat to down 1 percent on a core basis

On average, 17 analysts polled by Thomson Reuters expect the company to report earnings of $2.33 per share on sales growth of 0.4 percent to $2.98 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company projects earnings in a range of about $0.60 to $0.62 per share and on an adjusted basis in a range of about $0.64 - $0.66 per share on sales growth of about 2 percent on a reported basis and about flat on a core basis from last year.

The Street is looking for earnings of $0.66 per share on sales growth of 3.7 percent to $767.91 million for the quarter.