Pentair Q3 Profit Jumps; Updates 2013 Adj. EPS View - Quick Facts

(RTTNews) - Pentair Ltd. (PNR) reported third-quarter 2013 sales of $1.8 billion, with sales being down by 2 percent compared with last year. Analysts estimated revenues of $1.90 billion for the quarter.

On a GAAP basis, the company reported earnings per share of $0.85 compared to $0.31 in the third quarter of 2012. Adjusted third-quarter 2013 earnings per share were $0.86. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.86 for the quarter. Analysts' estimates typically exclude one-time items.

Going ahead, the company updated its full-year 2013 adjusted EPS outlook to a range of $3.19 - $3.21 from its earlier range of $3.15 - $3.25. The company anticipates annual sales of $7.4 billion, or up about 1 percent over 2012 adjusted pro forma sales.