Pentair plc (PNR - Free Report) , a diversified industrial manufacturing company, reported first-quarter 2019 results, wherein adjusted earnings of 43 cents came in line with the Zacks Consensus Estimate.
Revenue: Pentair posted revenues of $689 million in the quarter, which beat the Zacks Consensus Estimate of $687 million.
Outlook: For 2019, Pentair reiterated adjusted EPS guidance of $2.30-$2.35. Sales in 2019 will likely be up 1-2% on a reported basis and sales growth will be flat to up 1% on a core basis.
Pentair provided second-quarter 2019 adjusted earnings per share guidance at 63-66 cents. Sales in the quarter are anticipated to increase 1-2% on a reported basis and approximately flat to up 1 percent on a core basis compared with the prior-year quarter.
Estimates Revision: The Zacks Consensus Estimate for first quarter has been revised downward 4% over the past 7 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 3.62%.
Pentair plc Price and EPS Surprise
Zacks Rank: Currently, Pentair carries a Zacks Rank #3 (Hold) 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 dipped 1.98% in pre-market trading. Check back later for our full write up on Pentair earnings report!
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