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Pentair (PNR) Q2 Earnings in Line with Estimates, Sales Lag
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Pentair Plc (PNR - Free Report) is a global water, fluid, thermal management, and equipment protection partner with industry leading products, services, and solutions. It has a market capitalization of $11.8 billion.
Pentair is poised to gain from consistent dealer wins, product innovations and the sale of the Valves & Controls business. The company also continues to record sound growth in the biogas business, which further showed signs of strengthening earlier this year on the back of the Union Engineering acquisition. In addition, Pentair’s Aquatic & Environmental Systems business is poised to grow on industry strength, constant dealer wins and strategic product innovations.
Investors have thus been eagerly waiting to see how the company fares in its second quarter earnings results. Let’s have a quick look at the earnings release of this diversified industrial manufacturing company.
Estimate Trend & Surprise History: You should note that the earnings estimate revisions for Pentair have remained stable prior to the earnings release. The Zacks Consensus Estimate currently stands at $1.00 for the second quarter.
As regards earnings surprise, Pentair has outpaced the Zacks Consensus Estimate in the past 4 quarters, with an average beat of 5.29%.
Earnings: Pentair’s adjusted earnings of $1.00 came in line with the Zacks Consensus Estimate in the second quarter. Earnings came ahead of the management guidance range.
Revenue: Pentair missed on revenues. It reported second quarter revenues of $1.265 billion, fell short the Zacks Consensus Estimate of $1.269 billion.
Key Developments to Note: Pentair updated its full year 2017 adjusted EPS guidance range to $3.50 on the back of revenues of $4.9 billion. It also guided third quarter 2017 adjusted EPS guidance range of 91–93 cents. The company expects third quarter revenue to be approximately $1.22 billion, up approximately 1% on a reported and core basis compared to third quarter 2016 revenue.
Zacks Rank: Currently, Pentair carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
Market Reaction: Shares remained flat in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Pentair earnings report later!
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Pentair (PNR) Q2 Earnings in Line with Estimates, Sales Lag
Pentair Plc (PNR - Free Report) is a global water, fluid, thermal management, and equipment protection partner with industry leading products, services, and solutions. It has a market capitalization of $11.8 billion.
Pentair is poised to gain from consistent dealer wins, product innovations and the sale of the Valves & Controls business. The company also continues to record sound growth in the biogas business, which further showed signs of strengthening earlier this year on the back of the Union Engineering acquisition. In addition, Pentair’s Aquatic & Environmental Systems business is poised to grow on industry strength, constant dealer wins and strategic product innovations.
Investors have thus been eagerly waiting to see how the company fares in its second quarter earnings results. Let’s have a quick look at the earnings release of this diversified industrial manufacturing company.
Estimate Trend & Surprise History: You should note that the earnings estimate revisions for Pentair have remained stable prior to the earnings release. The Zacks Consensus Estimate currently stands at $1.00 for the second quarter.
As regards earnings surprise, Pentair has outpaced the Zacks Consensus Estimate in the past 4 quarters, with an average beat of 5.29%.
Pentair PLC. Price and EPS Surprise
Pentair PLC. Price and EPS Surprise | Pentair PLC. Quote
Earnings: Pentair’s adjusted earnings of $1.00 came in line with the Zacks Consensus Estimate in the second quarter. Earnings came ahead of the management guidance range.
Revenue: Pentair missed on revenues. It reported second quarter revenues of $1.265 billion, fell short the Zacks Consensus Estimate of $1.269 billion.
Key Developments to Note: Pentair updated its full year 2017 adjusted EPS guidance range to $3.50 on the back of revenues of $4.9 billion. It also guided third quarter 2017 adjusted EPS guidance range of 91–93 cents. The company expects third quarter revenue to be approximately $1.22 billion, up approximately 1% on a reported and core basis compared to third quarter 2016 revenue.
Zacks Rank: Currently, Pentair carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
Market Reaction: Shares remained flat in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Pentair earnings report later!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artifical intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>