Pentair Sees 2013 Revenue of $7.7 Billion Following Tyco Merger
Pentair Ltd. (PNR), a water filtration and flow-control company, said today that it expects revenue of $7.6 billion to $7.8 billion in 2013.
That compares with estimated sales next year of as much as $8.12 billion with a median of $7.85 billion, according to 14 analysts surveyed by Bloomberg. The guidance was provided ahead of Pentair’s annual investor and analyst day today in New York City, led by Chief Executive Officer Randall J. Hogan.
Pentair said it “expects to continue generating free cash flow in excess of net income for 2013” following its merger this year with Tyco International Ltd. (TYC)’s flow-control business.
The company, incorporated in Switzerland for tax reasons with its main offices in Minneapolis, also re-affirmed adjusted fourth-quarter 2012 earnings per share guidance of 40 cents to 45 cents. The stock has surged 44 percent this year.
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