|Bid||42.95 x 800|
|Ask||43.01 x 900|
|Day's Range||42.83 - 43.39|
|52 Week Range||22.01 - 47.43|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||21.71|
|Earnings Date||Oct 21, 2020 - Oct 26, 2020|
|Forward Dividend & Yield||0.76 (1.75%)|
|Ex-Dividend Date||Jul 23, 2020|
|1y Target Est||46.19|
Image source: The Motley Fool. Pentair PLC (NYSE: PNR)Q2 2020 Earnings CallJul 23, 2020, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorLadies and gentlemen, thank you for standing by and welcome to the Q2 2020 Pentair plc Earnings Conference Call.
(Bloomberg) -- Sun-starved shut-ins spending more time in their backyard oases are proving to be a boon for companies in the pool industry.Supply and equipment distributor Pool Corp. reported a 14% net sales increase from a year ago to a record $1.28 billion for the second quater. Meanwhile, water pumps and filtration systems maker Pentair’s profit sailed past estimates.The quarter presented a “unique opportunity,” Pool Corp. Chief Executive Officer Peter Arvan said, noting on the conference call that pool owners who typically delay openings until warmer weather arrives wanted to dive in sooner than usual.“Most of our dealers quickly became inundated with repair and upgrade requests from pool owners,” Arvan said, adding that demand for new pools picked up significantly as consumers sheltered in place.The pandemic has steered consumer focus to the home and backyard amid limited options for entertainment, with restaurants facing social distancing restrictions and movie theaters shuttered. Stocks of home-focused companies have thrived, including deck materials maker Trex Co. and rural retailer Tractor Supply Co.Early in the pandemic, local government closures hurt contractors’ efforts to obtain construction permits to build pools, Berenberg’s Alex Maroccia wrote. The analyst predicts that has created backlogs that could continue into next year, which would help Pool Corp. In the company’s earnings on Thursday, management boosted its full-year profit guidance amid the renewed interest in pools and outdoor living. Shares touched an all-time high before turning negative.London-based Pentair, which gets the majority of its revenue from the U.S. and is a supplier to Pool Corp., said its residential-facing businesses, which include the pool segment, experienced “healthy improvements” in May and June. However, Pentair was hurt by Covid-related manufacturing delays and supplier disruptions, and the pool business delivered flat sales for the quarter.Citi analyst Andrew Kaplowitz said he’s encouraged that Pentair re-instated its guidance. “We think residential pool displayed a solid level of resilience that should continue through the summer season,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Pentair (PNR) delivers better-than-expected Q2 performance and projects adjusted earnings per share (EPS) between $2.00 and $2.20 for the current year.