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Pentair’s earnings improved year over year, while revenues declined in fourth-quarter 2023. The company beat the Zacks Consensus Estimate for revenues and earnings. Pentair beat earnings estimates in each of the trailing four quarters, the average surprise being 8.6%.
The Zacks Consensus Estimate for PNR’s first-quarter revenues is pegged at $1.01 billion, indicating a decline of 2% from the year-ago reported figure.
The consensus estimate for earnings is pegged at 90 cents per share, suggesting a year-over-year dip of 1.1%. The Zacks Consensus Estimate for quarterly earnings has been unchanged in the past 60 days.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Pentair this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: Pentair has an Earnings ESP of -3.47%.
Zacks Rank: Pentair currently carries a Zacks Rank of 3.
Key Factors to Note
Pentair’s pool business has been bearing the brunt of weak demand. We, thus, expect volume to fall 4.5% year over year in the first quarter. We, however, expect this to be offset by a 1.4% increase in pricing.
Pentair has been witnessing a tight supply of raw materials, such as metals, resins and electronics, along with rising logistics costs. Also, supply-chain pressures and inflationary costs are likely to have weighed on the quarter’s performance. Gains from the Manitowoc Ice acquisition and benefits from the Transformation program are expected to have helped offset these impacts on its earnings in the quarter.
Segmental Projections
The company has been witnessing weak demand in the pool business recently. Reflecting this, we expect the Pool segment’s sales to be $353 million, indicating a year-over-year decline of 3.1%. The segment’s operating income is expected to fall 0.1% year over year to $116 million.
Our model predicts the Water Solutions segment’s net sales to fall 2.3% year over year to $266 million in the quarter. The operating income is expected to increase 1.5% to $53 million.
We expect Industrial & Flow Technologies’ revenues to be $389 million, indicating a decline of 0.8% from the prior-year quarter’s reported figure. Our estimate for this segment’s operating profit is $65 million, suggesting a dip of 0.1% from the year-ago reported figure.
Price Performance
PNR shares have gained 53.5% in the past year compared with the industry’s growth of 11.1%.
Image Source: Zacks Investment Research
Stocks That Warrant a Look
Here are some companies with the right combination of elements to post an earnings beat in their upcoming releases.
Crane Company (CR - Free Report) is scheduled to release its first-quarter 2024 results on Apr 22. It has an Earnings ESP of +0.28% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CR’s first-quarter earnings is pegged at $1.12 per share. It has a trailing four-quarter average surprise of 25.1%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, has an Earnings ESP of +2.05%.
The consensus estimate for Eaton’s earnings for the first quarter of 2024 is pegged at $2.28 per share. ETN currently carries a Zacks Rank of 2. It has a trailing four-quarter average surprise of 4.5%
Deere & Company (DE - Free Report) , expected to release earnings results soon, has an Earnings ESP of +0.76% and a Zacks Rank of 3.
The Zacks Consensus Estimate for Deere’s fiscal second-quarter 2024 earnings is pegged at $7.82 per share. It has a trailing four-quarter average surprise of 17.1%.
Image: Bigstock
Pentair (PNR) to Report Q1 Earnings: What's in the Cards?
Pentair plc (PNR - Free Report) is scheduled to report first-quarter 2024 results on Apr 23, before the opening bell.
Q4 Results
Pentair’s earnings improved year over year, while revenues declined in fourth-quarter 2023. The company beat the Zacks Consensus Estimate for revenues and earnings. Pentair beat earnings estimates in each of the trailing four quarters, the average surprise being 8.6%.
Pentair plc Price and EPS Surprise
Pentair plc price-eps-surprise | Pentair plc Quote
Q1 Estimates
The Zacks Consensus Estimate for PNR’s first-quarter revenues is pegged at $1.01 billion, indicating a decline of 2% from the year-ago reported figure.
The consensus estimate for earnings is pegged at 90 cents per share, suggesting a year-over-year dip of 1.1%. The Zacks Consensus Estimate for quarterly earnings has been unchanged in the past 60 days.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Pentair this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: Pentair has an Earnings ESP of -3.47%.
Zacks Rank: Pentair currently carries a Zacks Rank of 3.
Key Factors to Note
Pentair’s pool business has been bearing the brunt of weak demand. We, thus, expect volume to fall 4.5% year over year in the first quarter. We, however, expect this to be offset by a 1.4% increase in pricing.
Pentair has been witnessing a tight supply of raw materials, such as metals, resins and electronics, along with rising logistics costs. Also, supply-chain pressures and inflationary costs are likely to have weighed on the quarter’s performance. Gains from the Manitowoc Ice acquisition and benefits from the Transformation program are expected to have helped offset these impacts on its earnings in the quarter.
Segmental Projections
The company has been witnessing weak demand in the pool business recently. Reflecting this, we expect the Pool segment’s sales to be $353 million, indicating a year-over-year decline of 3.1%. The segment’s operating income is expected to fall 0.1% year over year to $116 million.
Our model predicts the Water Solutions segment’s net sales to fall 2.3% year over year to $266 million in the quarter. The operating income is expected to increase 1.5% to $53 million.
We expect Industrial & Flow Technologies’ revenues to be $389 million, indicating a decline of 0.8% from the prior-year quarter’s reported figure. Our estimate for this segment’s operating profit is $65 million, suggesting a dip of 0.1% from the year-ago reported figure.
Price Performance
PNR shares have gained 53.5% in the past year compared with the industry’s growth of 11.1%.
Image Source: Zacks Investment Research
Stocks That Warrant a Look
Here are some companies with the right combination of elements to post an earnings beat in their upcoming releases.
Crane Company (CR - Free Report) is scheduled to release its first-quarter 2024 results on Apr 22. It has an Earnings ESP of +0.28% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CR’s first-quarter earnings is pegged at $1.12 per share. It has a trailing four-quarter average surprise of 25.1%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, has an Earnings ESP of +2.05%.
The consensus estimate for Eaton’s earnings for the first quarter of 2024 is pegged at $2.28 per share. ETN currently carries a Zacks Rank of 2. It has a trailing four-quarter average surprise of 4.5%
Deere & Company (DE - Free Report) , expected to release earnings results soon, has an Earnings ESP of +0.76% and a Zacks Rank of 3.
The Zacks Consensus Estimate for Deere’s fiscal second-quarter 2024 earnings is pegged at $7.82 per share. It has a trailing four-quarter average surprise of 17.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.