Pentair Beats Q3 Estimates, Raises Profit Outlook As CEO Credits 'Strong Execution'
Portfolio Pulse from Lekha Gupta
Pentair plc (NYSE:PNR) reported better-than-expected Q3 2024 results, with net sales of $993 million and adjusted EPS of $1.09, both surpassing consensus estimates. The company raised its FY24 adjusted EPS outlook and continues its share repurchase program. Pentair's shares rose 1.49% premarket. Investors can also gain exposure through Invesco Global Water ETF (NASDAQ:PIO) and Global X Clean Water ETF (NASDAQ:AQWA).
October 22, 2024 | 1:29 pm
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POSITIVE IMPACT
Global X Clean Water ETF includes Pentair, which reported strong Q3 results and raised its FY24 EPS outlook.
Pentair's strong performance and positive outlook may positively influence ETFs like AQWA that hold Pentair, potentially boosting the ETF's short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Invesco Global Water ETF provides exposure to Pentair, which reported strong Q3 results and raised its FY24 EPS outlook.
Pentair's positive earnings report may benefit ETFs like PIO that include Pentair in their holdings, potentially leading to a positive short-term impact on the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Pentair reported strong Q3 results, beating sales and EPS estimates, and raised its FY24 EPS outlook. The company continues its share repurchase program and pays a quarterly dividend.
Pentair's Q3 results exceeded expectations, with strong EPS growth and a raised FY24 outlook, indicating positive investor sentiment. The continuation of the share repurchase program and dividend payment further supports a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100