Pentair Q1 Profit Rises; Reaffirms 2014 Adj. EPS Guidance - Quick Facts

(RTTNews) - Pentair Ltd. (PNR) reported that its first-quarter net income to company increased to $118.6 million from $51.7 million. Earnings per share was $0.59, compared to $0.25, a year ago. Net income attributable to Pentair as adjusted was $145.0 million or $0.73 per share, for the quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.73 for the quarter. Analysts' estimates typically exclude special items.

Net sales decreased to $1.72 billion from $1.77 billion, a year ago. Analysts expected revenue of $1.79 billion for the quarter.

The company reaffirmed its 2014 adjusted earnings per share guidance of $3.85-$4.00. The company anticipates full year 2014 sales of $7.7 billion, or up approximately 2 to 4 percent over 2013 sales. Analysts expect the company to report 2014 profit per share of $3.96 on revenue of $7.73 billion.

Thee company introduced its second-quarter 2014 adjusted earnings per share guidance of $1.02-$1.05. The company expects second-quarter revenue to be approximately $1.95 billion, which is flat to down 1 percent compared to second quarter 2013 revenue. Analysts expect the company to report second-quarter profit per share of $1.10 on revenue of $2.03 billion.