Pentair Expects Q4 Earnings In Line With Estimates, Lifts Annual Profit Outlook Above View

(RTTNews) - Pentair Plc. (PNR) a water treatment company, on Tuesday initiated fourth-quarter earnings guidance in line with analysts' estimates. In addition, the firm has revised up annual profit outlook above estimates.

John Stauch, CEO of Pentair, said: "We remain confident in our Transformation initiatives and 80/20 and expect them to continue to drive strategic decisions and operational efficiencies across our balanced water portfolio."

For the fourth quarter, Pentair expects net earnings per share of around $0.95, while adjusted earnings of approximately $1.02 per share, up approximately 17 percent from the prior year period.

Sales are projected to be around $965 million to $975 million, down 1 percent to 2 percent, year-on-year basis.

On average, 16-analysts polled by Thomson Reuters forecast the firm to earn $1.02 per share, on revenue of $989.24 million, for the quarter. Analysts' estimates typically exclude special items.

For the full year, Pentair now expects net earnings per share of around $3.70, lower than the prior outlook of $3.81 per share.

Excluding items, the firm projects earnings per share of around $4.27, compared with previous guidance of $4.25 per share.

However, the company continues to expect annual sales to remain roughly flat to down 1 percent, or $4.075 billion to $4.085 billion.

Analysts, on average guide the company to register EPS of $4.25, on sales of $4.09 billion, for the year.