Pentair Boosts Q2, FY21 Outlook - Quick Facts

(RTTNews) - Ahead of its 2021 Virtual Investor Day later on Thursday, Pentair plc (PNR) raised its earnings, adjusted earnings and sales guidance for the second quarter and the full-year 2021.

For the second quarter, the company now projects earnings of about $0.71 to $0.76 per share and adjusted earnings of about $0.75 to $0.80 per share, both on continuing operations basis, on sales growth of about 25 to 29 percent.

Previously, the company expected earnings of about $0.65 to $0.70 per share and adjusted earnings of about $0.69 to $0.74 per share, both on continuing operations basis, on sales growth of about 13 to 16 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.98 per share on sales growth of 11.3 percent to $3.36 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2021, the company now earnings of about $2.95 to $3.05 per share and adjusted earnings of about $3.10 to $3.20 per share, both on continuing operations basis, on sales growth of about 17 to 19 percent.

Previously, the company expected earnings of about $2.65 to $2.80 per share and adjusted earnings of about $2.80 to $2.95 per share, both on continuing operations basis, on sales growth of about 6 to 11 percent. The Street is currently looking for earnings of $0.71 per share on sales growth of 21.5 percent to $823.98 million for the year.