Pentair Plc Q2 Profit Increases, Beats Estimates

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

The company's bottom line came in at $186.1 million, or $1.11 per share. This compares with $154.2 million, or $0.93 per share, in last year's second quarter.

Excluding items, Pentair plc reported adjusted earnings of $203.9 million or $1.22 per share for the period.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.6% to $1.099 billion from $1.082 billion last year.

Pentair plc earnings at a glance (GAAP) :

-Earnings (Q2): $186.1 Mln. vs. $154.2 Mln. last year. -EPS (Q2): $1.11 vs. $0.93 last year. -Revenue (Q2): $1.099 Bln vs. $1.082 Bln last year.

-Guidance: Next quarter EPS guidance: Around$1.06 to $1.08 Next quarter revenue guidance: Down 2% to 3% Full year EPS guidance: Around $4.25 Full year revenue guidance: Flat to down 1%