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Pentair beats 4Q profit forecasts

MANCHESTER, United Kingdom (AP) _ Pentair PLC (PNR) on Tuesday reported fourth-quarter net income of $131 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Manchester, United Kingdom-based company said it had profit of 71 cents. Earnings, adjusted for one-time gains and costs, came to 78 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The diversified industrial manufacturer posted revenue of $1.19 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.21 billion.

For the year, the company reported net income of $522.2 million, or $2.85 per share, swinging to a profit in the period. Revenue was reported as $4.89 billion.

For the current quarter ending in April, Pentair expects its per-share earnings to be 61 cents.

The company said it expects revenue in the range of $1.14 billion for the fiscal first quarter.

Pentair expects full-year earnings in the range of $3.45 to $3.55 per share.

Pentair shares have increased slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 2 percent. The stock has increased 34 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNR at https://www.zacks.com/ap/PNR

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Keywords: Pentair, Earnings Report