Pentair plc Q1 Profit Increases, beats estimates

(RTTNews) - Pentair plc (PNR) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $129.7 million, or $0.79 per share. This compares with $117.6 million, or $0.70 per share, in last year's first quarter.

Excluding items, Pentair plc reported adjusted earnings of $151.1 million or $0.91 per share for the period.

Analysts on average had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.0% to $1.03 billion from $0.99 billion last year.

Pentair plc earnings at a glance (GAAP) :

-Earnings (Q1): $129.7 Mln. vs. $117.6 Mln. last year. -EPS (Q1): $0.79 vs. $0.70 last year. -Analyst Estimate: $0.77 -Revenue (Q1): $1.03 Bln vs. $0.99 Bln last year.

-Guidance: Next quarter EPS guidance: $0.94 to $0.96 Full year EPS guidance: $3.60 to $3.70