Pentair Re-instates FY20 Adj. EPS Outlook In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Pentair plc (PNR) re-instated its earnings, adjusted earnings and sales guidance for the full-year 2020.

For fiscal 2020, the company now projects earnings of about $1.70 to $1.90 per share and adjusted earnings of about $2.00 to $2.20 per share on sales of about $2.8 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.07 per share on sales of $2.77 billion for the year. Analysts' estimates typically exclude special items.

In late March, the company had withdrawn its financial guidance for the first quarter and fiscal 2020, due to the recent impacts caused by the coronavirus (COVID-19) pandemic.

Pentair Board of Directors said it will pay the previously announced 6 percent higher regular quarterly cash dividend of $0.19 per share on August 7, 2020 to shareholders of record at the close of business on July 24, 2020. This was earlier announced on May 5, 2020.