Water Filtration Company Pentair Advances After Earnings ResultsRandall Hackley
Pentair Ltd., a maker of water filtration systems and industrial pumps, climbed for a second day in New York trading after reporting first-quarter sales of almost $1.8 billion.
Pentair rose as much as 3.4 percent to $54.49 after surging
5.8 percent yesterday when the company said it expects revenue of $1.9 billion next quarter. It confirmed 2013 adjusted earnings per share guidance of $3.10 to $3.30 and said water and fluid solutions sales in the first quarter rose 5 percent to $782 million from the year-earlier period.
Pentair, whose shares have risen 11 percent this year, was formed by the 2012 merger of Pentair Inc. with Tyco International Ltd.’s flow-control unit.