Pentair plc (PNR - Free Report) , a diversified industrial manufacturing company, reported second-quarter 2019 results, wherein adjusted earnings of 69 cents beat the Zacks Consensus Estimate of 66 cents.
Revenue: Pentair posted revenues of $800 million in the quarter, which beat the Zacks Consensus Estimate of $791 million.
Outlook: For 2019, Pentair updated adjusted EPS guidance to $2.35. Sales in 2019 will likely be flat to up 1% on a reported basis and sales growth will be flat to down 1% on a core basis.
Pentair provided third-quarter 2019 adjusted earnings per share guidance at 54-56 cents. Sales in the quarter are anticipated to be flat to up 2% on a reported basis and down 1% to 3% on a core basis compared with the prior-year quarter.
Estimates Revision: The Zacks Consensus Estimate for second quarter has remained 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 2.11%.
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 were inactive following the release. Check back later for our full write up on Pentair earnings report!
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