pentair plc (PNR) Key Developments
Pentair plc Reports Un-Audited Consolidated Earnings Results for the First Quarter Ended March 28, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
Apr 21 15
Pentair plc reported un-audited consolidated earnings results for the first quarter ended March 28, 2015. For the quarter, the company reported net sales of $1,475.0 million compared to $1,644.0 million, operating income of $171.2 million compared to $182.1 million, income from continuing operations before income taxes of $153.5 million compared to $166.3 million, net income from continuing operations of $118.2 million or $0.65 per diluted share compared to $125.5 million or $0.63 per diluted share and net income of $113.9 million or $0.62 per diluted share compared to $118.6 million or $0.59 per diluted share for the last year. Net cash used for operating activities was $133.2 million compared to net cash provided by operating activities of $2.5 million, capital expenditures was $34.8 million compared to $27.2 million and free cash flow was $158.7 million compared to $39.5 million for the last year.
The company provided earnings guidance for the second quarter and full year of 2015. For the second quarter, the company expected net sales of $1,640 million, operating income of $207 million, net income from continuing operations of $144 million or $0.78 to $0.79 per share, operating income—as adjusted of $247 million and net income from continuing operations—as adjusted of $175 million or $0.95 to $0.96 per share.
For the year, the company expected net sales of $6,470 million, operating income of $913 million, net income from continuing operations of $647 million or $3.55 per share, operating income—as adjusted of $973 million and net income from continuing operations—as adjusted of $693 million or $3.80 per share.
Pentair Declares Quarterly Cash Dividend Payable on May 8, 2015
Apr 9 15
Pentair plc announced that it will pay a regular quarterly cash dividend of $0.32 per share on May 8, 2015 to shareholders of record at the close of business on April 24, 2015. Pentair had previously announced on December 10, 2014 the approval by its Board of Directors an annual cash dividend of $1.28 per share, payable in four equal quarterly installments in 2015. Pentair paid dividends of $1.10 per share in 2014. Pentair has increased its dividend for 39 consecutive years.
Crescent Capital Seeks To Sell Pentair Water Transport Business
Apr 8 15
Crescent Capital has put the water transport business of Pentair plc (NYSE:PNR) up for sale. The company is looking for a sale and leaseback program for the Pentair business's four major industrial properties across Australia. They include assets in Queensland at Carole Park and Currumbin, one asset in Victoria at Somerton and another in Western Australia at Kwinana.
Pentair plc Revised Earnings Guidance for the First Quarter Ending March 28, 2015
Apr 7 15
Pentair plc has provided an update to its earnings guidance for the first quarter ending March 28, 2015. For the first quarter, the company now expects revenue of $1.48 billion or approximately $120 million lower than it previously expected. The company's revenue expectations have been negatively impacted by the stronger dollar, slower than expected oil and gas industry shipments and orders, broad-based slowing of global capital spending, and customer inventory de-stocking. As a result of the lower revenue expectations, the company now expects first quarter earnings per diluted share from continuing operations (EPS) will be approximately $0.65. The company previously expected first quarter EPS would be in the range of $0.75 - $0.77.
Pentair plc to Report Q1, 2015 Results on Apr 21, 2015
Apr 7 15
Pentair plc announced that they will report Q1, 2015 results at 9:00 AM, Eastern Daylight on Apr 21, 2015