Pentair plc (NYSE:PNR) , a diversified industrial manufacturing company, reported fourth-quarter 2019 results, wherein adjusted earnings of 68 cents beat the Zacks Consensus Estimate of 60 cents.
Revenue: Pentair posted revenues of $755 million in the quarter, which beat the Zacks Consensus Estimate of $752 million.
Outlook: For 2020, Pentair initiated adjusted EPS guidance at $2.50-$2.55. Sales in the ongoing year are projected be up 1-3% on a reported basis 2-4% on a core basis compared with 2019.
Pentair provided first-quarter 2020 adjusted earnings per share guidance at 48-51 cents. Sales in the quarter are anticipated to be up 3 to 5% on a reported basis and up around 4-6% on a core basis from the prior year quarter.
Estimates Revision: The Zacks Consensus Estimate for the fourth quarter has remained stable over the past 30 days. In all of the trailing four quarters, the company’s earnings have surpassed the Zacks Consensus Estimate by an average positive surprise of 2.92%.
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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Pentair plc (PNR): Free Stock Analysis Report
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