Pentair plc (PNR) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Pentair plc (PNR) reported revenue of $1.01 billion, down 4.4% over the same period last year. EPS came in at $0.94, compared to $0.99 in the year-ago quarter.
The reported revenue represents a surprise of +1.82% over the Zacks Consensus Estimate of $990.76 million. With the consensus EPS estimate being $0.87, the EPS surprise was +8.05%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Pentair plc performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue Growth - Core - Water Solutions: -0.2% versus the three-analyst average estimate of -0.6%.
Revenue Growth - Core - Pool: -20.8% versus the three-analyst average estimate of -16.3%.
Revenue Growth - Core - Industrial & Flow Technologies: 1.1% versus the three-analyst average estimate of 0.7%.
Revenue Growth - Core - Total Pentair: -7.3% versus the three-analyst average estimate of -8.8%.
Net Sales- Pool: $308.80 million versus $300.12 million estimated by seven analysts on average.
Net Sales- Industrial & Flow Technologies: $400.20 million versus the seven-analyst average estimate of $396.83 million. The reported number represents a year-over-year change of +2.8%.
Net Sales- Water Solutions: $299.40 million compared to the $293.01 million average estimate based on seven analysts.
Net Sales- Other: $0.40 million compared to the $0.34 million average estimate based on four analysts. The reported number represents a change of +33.3% year over year.
Segment income (loss)- Other: -$24.80 million compared to the -$19.73 million average estimate based on seven analysts.
Segment income (loss)- Pool: $90.60 million versus $92.01 million estimated by seven analysts on average.
Segment income (loss)- Water Solutions: $68.80 million versus the seven-analyst average estimate of $59.04 million.
Segment income (loss)- Industrial & Flow Technologies: $77.50 million versus the seven-analyst average estimate of $70.28 million.
View all Key Company Metrics for Pentair plc here>>>
Shares of Pentair plc have returned -5% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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