Pentair Updates FY23 Guidance: Sees Adjusted EPS Of $3.70-$3.75 (Prior $3.65-$3.75) Vs. Consensus of $3.73; Expects Sales To Be Down ~1% On A Reported Basis (Prior Down ~2% To Flat)
Portfolio Pulse from Benzinga Newsdesk
Pentair has updated its FY23 guidance, expecting an adjusted EPS of $3.70-$3.75, compared to the previous range of $3.65-$3.75 and consensus of $3.73. The company also anticipates sales to decrease by approximately 1% on a reported basis, an improvement from the previous estimate of a 2% decrease to flat. The company's GAAP EPS from continuing operations is estimated to be $3.25-$3.30. Pentair's full year free cash flow is expected to be approximately 100% of net income.
October 24, 2023 | 11:04 am
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POSITIVE IMPACT
Pentair's updated FY23 guidance indicates an improved outlook, with an increased adjusted EPS and a less severe decrease in sales. This could potentially have a positive impact on the company's stock price.
The company's updated guidance indicates strong execution across all segments, despite global macroeconomic and geopolitical uncertainties. The increase in the lower end of the adjusted EPS guidance and the less severe decrease in sales could be seen as positive by investors, potentially leading to an increase in the stock price.
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