Pentair Boosts FY21 Outlook; Guides Q4 In Line - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, Pentair plc (PNR) raised its earnings, adjusted earnings and sales guidance for the full-year 2021. The company also provided outlook for the fourth quarter.

For fiscal 2021, the company now projects earnings of about $3.19 to $3.25 per share and adjusted earnings of about $3.34 to $3.40 per share, both on continuing operations basis, on sales growth of about 22 to 23 percent.

Previously, the company expected earnings of about $3.13 to $3.23 per share and adjusted earnings of about $3.30 to $3.40 per share, both on continuing operations basis, on sales growth of about 21 to 23 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.36 per share on sales growth of 22.4 percent to $3.69 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company now projects earnings of about $0.77 to $0.83 per share and adjusted earnings of about $0.81 to $0.87 per share, both on continuing operations basis, on sales growth of about 15 to 19 percent.

The Street is currently looking for earnings of $0.87 per share on sales growth of 18.5 percent to $943.55 million for the quarter.