CORRECTION: Pentair Q4 Adj. EPS $0.87 Beats $0.86 Estimate, Sales $984.60M Beat $976.03M Estimate
Portfolio Pulse from Benzinga Newsdesk
Pentair (NYSE:PNR) reported Q4 adjusted EPS of $0.87, surpassing the consensus estimate of $0.86, marking a 6.1% increase from the previous year. Quarterly sales reached $984.60M, slightly beating estimates of $976.03M but showing a 1.83% decrease from the same period last year.
January 30, 2024 | 12:17 pm
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Pentair reported a positive earnings surprise with Q4 adjusted EPS of $0.87, beating estimates and showing year-over-year growth, but with a slight decline in sales compared to last year.
The positive earnings beat and year-over-year growth in EPS are likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price. However, the slight decline in sales may temper some of the investor enthusiasm, but overall, the earnings beat is a stronger factor in the short term.
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IMPORTANCE 80
RELEVANCE 100