Pentair plc (NYSE:PNR) , a diversified industrial manufacturing company, reported fourth-quarter 2018 results, wherein adjusted earnings of 60 cents beat the Zacks Consensus Estimate of 59 cents.
Revenue: Pentair posted revenues of $741 million in the quarter, which beat the Zacks Consensus Estimate of $737 million.
Outlook: For 2019, Pentair projects adjusted earnings per share (EPS) in the band of $2.50-$2.60. The company expects sales for full year to grow roughly 5-6% on reported basis and 4-5% on core basis.
The company also provided earnings guidance for first-quarter 2019. It expects adjusted EPS in range of 52-55 cents. Net sales for the quarter are projected to inch up around 0-1% on reported basis and roughly 4-5% on a core basis compared with first-quarter 2018.
Estimates Revision: The Zacks Consensus Estimate for fourth 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 2.9%.
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. 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!
Wall Street’s Next Amazon (NASDAQ:AMZN)
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Pentair plc (PNR): Get Free Report
Original post
Zacks Investment Research