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Pentair (PNR) Beats Earnings & Revenue Estimates in Q3
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Pentair plc (PNR - Free Report) , a diversified industrial manufacturing company, reported third-quarter 2018 results, wherein adjusted earnings of 54 cents beat the Zacks Consensus Estimate of 52 cents.
Revenue: Pentair posted revenues of $711.4 million in the third quarter, which beat the Zacks Consensus Estimate of $700.3 million.
Outlook: Pentair revised its full-year 2018 adjusted earnings per share guidance to around $2.33 (up from roughly $2.31 expected earlier) and sales outlook to $2.96 billion (slightly up from $2.95 billion). Revenues are now expected to be up 4-5% on a reported and core basis respectively over 2017.
Pentair projects fourth-quarter 2018 adjusted earnings per share of roughly 59 cents. Sales are expected to be around $736 million, up 1-2% on a reported basis and up 4-5% on a core basis compared to fourth-quarter 2017. Both projections reflect the separation of its Electrical business, on Apr 30, 2018.
Earnings Estimates Revision: The Zacks Consensus Estimate for third quarter has been stable over the past 30 days. In three of the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average positive surprise of 2.5%.
Market Reaction: Pentair’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Pentair earnings report!
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Pentair (PNR) Beats Earnings & Revenue Estimates in Q3
Pentair plc (PNR - Free Report) , a diversified industrial manufacturing company, reported third-quarter 2018 results, wherein adjusted earnings of 54 cents beat the Zacks Consensus Estimate of 52 cents.
Revenue: Pentair posted revenues of $711.4 million in the third quarter, which beat the Zacks Consensus Estimate of $700.3 million.
Outlook: Pentair revised its full-year 2018 adjusted earnings per share guidance to around $2.33 (up from roughly $2.31 expected earlier) and sales outlook to $2.96 billion (slightly up from $2.95 billion). Revenues are now expected to be up 4-5% on a reported and core basis respectively over 2017.
Pentair projects fourth-quarter 2018 adjusted earnings per share of roughly 59 cents. Sales are expected to be around $736 million, up 1-2% on a reported basis and up 4-5% on a core basis compared to fourth-quarter 2017. Both projections reflect the separation of its Electrical business, on Apr 30, 2018.
Pentair plc Price and EPS Surprise
Pentair plc Price and EPS Surprise | Pentair plc Quote
Earnings Estimates Revision: The Zacks Consensus Estimate for third quarter has been stable over the past 30 days. In three of the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average positive surprise of 2.5%.
Zacks Rank: Currently, Pentair carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction: Pentair’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Pentair earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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