Pentair Plc, a water and filtration-system provider, tumbled the most in three months after saying it expects first-quarter revenue to be lower than it estimated on slowed orders and a stronger dollar.
Pentair slid 3.5 percent to $62.21 at the close in New York, the most since Jan. 5. Earlier, the shares declined as much as 5.5 percent, the biggest drop since July 31.
Pentair is expecting revenue of about $1.48 billion compared with an earlier estimate of $1.6 billion, the Manchester, U.K.-based company said in a statement Tuesday. Revenue is curbed because of a stronger dollar and shipment slowdowns linked to the oil and natural gas industries, it said.
“The year has started even slower than we anticipated,” Chief Executive Officer Randall J. Hogan said in the statement.
Pentair reports first-quarter earnings before the start of regular trading in New York on April 21.