Pentair Boosts FY19 Earnings Guidance - Quick Facts

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

For fiscal 2019, the company now projects earnings of about $2.13 per share and adjusted earnings of about $2.35 per share. The company now expects sales to be about flat to up 1 percent on a reported basis and about flat to down 1 percent on a core basis from last year.

The company reiterates its full year 2019 sales guidance of up approximately 1 to 2 percent on a reported basis and approximately flat to up 1 percent on a core basis

Previously, the company expected earnings from continuing operations in a range of about $2.04 to $2.09 per share and on an adjusted basis in the range of about $2.30 to $2.35 per share. It also projected full year 2019 sales to be up about 1 to 2 percent on a reported basis and about flat to up 1 percent on a core basis.

On average, 16 analysts polled by Thomson Reuters expect the company to report earnings of $2.31 per share on sales growth of 1.4 percent to $3.01 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company projects earnings in a range of about $0.50 to $0.52 per share and on an adjusted basis in the range of about $0.54 to $0.56 per share on sales of about flat to up 2 percent on a reported basis and about down 1 to 3 percent on a core basis from last year.

The Street is looking for earnings of $0.57 per share on sales growth of 4.5 percent to $743.26 million for the third quarter.