Pentair Analysts Increase Their Forecasts Following Better-Than-Expected Q3 Results

Pentair plc (NYSE:PNR) reported better-than-expected results for its third quarter on Tuesday.

The company reported that third-quarter 2024 net sales fell 2% year over year to $993 million, beating the consensus of $988.8 million. Adjusted EPS rose 16% Y/Y to $1.09, surpassing the consensus of $1.07.

For FY24 Outlook, Pentair raised adjusted EPS to $4.27 (from $4.25) vs. consensus of $4.25. Meanwhile, the company continues to see sales growth of roughly flat to down 1% on a reported basis.

Pentair sees fourth-quarter adjusted EPS of $1.02 versus a consensus of $1.02 and sales of around $965 million-$975 million vs. a consensus of $989.2 million.

CEO John L. Stauch said, “Our relentless dedication to strong execution, Transformation, and delivering value to our customers has driven yet another quarter ...