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Last $54.23 USD
Change Today +0.38 / 0.71%
Volume 803.5K
PNR On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 8:04 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

pentair plc (PNR) Key Developments

ERICO Global Company, Pentair plc - M&A Call

To discuss the acquisition of ERICO Global Company for $1.8 billion in cash, including the repayment of ERICO debt

Pentair plc Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 27, 2015 ; Updates Earnings Guidance for the Year 2015 ; Provides Earnings Guidance for the Third Quarter of 2015

Pentair plc announced unaudited consolidated earnings results for second quarter and six months ended June 27, 2015. For the quarter, the company reported net sales of $1,661.2 million, operating income of $217.9 million, income from continuing operations before income taxes of $199.9 million, net income from continuing operations of $153.9 million or $0.84 per diluted share, net income of $147.8 million or $0.81 per diluted share compared to the net sales of $1,834.1 million, operating income of $226.4 million, income from continuing operations before income taxes of $208.6 million, net income from continuing operations of $159.2 million or $0.81 per diluted share, net income of $161.5 million or $0.82 per diluted share for the same quarter a year ago. For the six months period, the company reported net sales of $3,136.2 million, operating income of $389.1 million, income from continuing operations before income taxes of $353.4 million, net income from continuing operations of $272.1 million or $1.49 per diluted share, net income of $261.7 million or $1.43 per diluted share compared to the net sales of $3,478.1 million, operating income of $408.5 million, income from continuing operations before income taxes of $374.9 million, net income from continuing operations of $284.7 million or $1.44 per diluted share, net income of $280.1 million or $1.41 per diluted share for the same period a year ago. The company updated its full year 2015 adjusted EPS guidance to a range of $3.80 - $3.90, which excludes approximately $0.45 per share of non-cash amortization. The prior 2015 adjusted EPS guidance of $3.80 included non-cash amortization. The company anticipated full year 2015 sales of $6.4 billion, or down approximately 8% to 9% over 2014 sales on a reported basis and down 2% to 3% on a core basis. The company expects to generate free cash flow in excess of 120% of net income in 2015. Going forward, Pentair will exclude non-cash amortization from adjusted EPS guidance to better reflect the company's performance. The company introduced third quarter 2015 adjusted EPS guidance of $0.94 - $0.97, which excludes $0.12 of non-cash amortization, and down approximately 14% versus the same quarter last year's adjusted EPS. The company expected third quarter revenue to be approximately $1.6 billion, which would be down approximately 8% to 9% on a reported basis and down 2% to 3% on a core basis compared to third quarter 2014 revenue.

Pentair plc to Report Q2, 2015 Results on Jul 21, 2015

Pentair plc announced that they will report Q2, 2015 results at 9:00 AM, US Eastern Standard Time on Jul 21, 2015

Pentair plc, Q2 2015 Earnings Call, Jul 21, 2015

Pentair plc, Q2 2015 Earnings Call, Jul 21, 2015

Pentair Seeks Acquisitions

Trian Fund Management, L.P. has built a stake of 7.24% in Pentair plc (NYSE:PNR) and is asking it to consider buying up rivals in an effort to consolidate the fragmented market for the specialized parts, according to people familiar with the matter. Pentair has around $800 million in cash to spend on acquisitions, Pentair Chairman and Chief Executive Randall Hogan has said, but would consider using stock to fund a deal. He has pledged to remain a disciplined buyer.

 

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PNR

Industry Average

Valuation PNR Industry Range
Price/Earnings 16.9x
Price/Sales 1.4x
Price/Book 2.1x
Price/Cash Flow 49.3x
TEV/Sales 0.9x
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