Pentair Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Pentair plc (PNR) reported second-quarter income from continuing operations of $153.9 million or $0.84 per share compared to $159.2 million or $0.81 per share, last year. Adjusted earnings per share from continuing operations was $0.96, for the quarter.

On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.66 billion compared to $1.83 billion, a year ago. Analysts expected revenue of $1.64 billion for the quarter. Total sales declined 9 percent consisting of a 2 percent decline in core sales and FX translation impact of negative 7 percent.

Pentair said, going forward, it will exclude non-cash amortization from adjusted EPS guidance to better reflect the company's performance. Pentair updated its 2015 adjusted EPS guidance to a range of $3.80 - $3.90. This excludes approximately $0.45 per share of non-cash amortization. The company's prior adjusted EPS guidance of $3.80 included non-cash amortization. The company anticipates full year 2015 sales of $6.4 billion. Analysts expect the company to report fiscal year earnings per share of $3.72 on revenue of $6.45 billion.

Pentair introduced third quarter adjusted EPS guidance of $0.94 - $0.97, which excludes $0.12 of non-cash amortization. The company expects third quarter revenue to be approximately $1.6 billion. Analysts expect the company to report third-quarter earnings per share of $1.01 on revenue of $1.62 billion.