Pentair Q2: Earnings Beat, Raised Bottomline Guidance & More
Portfolio Pulse from Akanksha Bakshi
Pentair PLC (PNR) reported Q2 FY23 net sales growth of 1.7% YoY to $1.08 billion, beating the consensus of $1.06 billion. Adjusted EPS was $1.03, above the consensus of $0.95. The company raised its FY23 EPS guidance to $3.65-$3.75 from $3.60-$3.70. However, it expects sales to be down approximately 2% to flat on a reported basis. PNR shares are trading higher by 2.97% at $68.91.
July 27, 2023 | 4:09 pm
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Pentair PLC reported better than expected Q2 FY23 results and raised its FY23 EPS guidance, leading to a 2.97% increase in its stock price.
Pentair PLC reported a YoY net sales growth of 1.7% to $1.08 billion, beating the consensus of $1.06 billion. The adjusted EPS was also above the consensus. The company raised its FY23 EPS guidance, indicating confidence in its future performance. These positive results and outlook led to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100